Services

Business Receipts Index

Measures the changes in the amount of business or operating receipts on a quarterly basis. It covers the services industries, excluding wholesale & retail trade and accommodation & food services.

The BRI is compiled based on survey data and administrative records of more than 11,000 enterprises. They include:

  • Transport & Storage services
  • Information & Communications services
  • Financial & Insurance services
  • Business services
  • Recreation, Community & Personal services.

 The BRI is compiled at current prices. The base year for the BRI is 2014.

Establishment

An establishment in the services industry refers to a unit within an enterprise. This unit operates in a single location and engages in one activity. An enterprise is an incorporated or registered entity. It could be a company, business, association or society, etc.

Gross Operating Surplus

The surplus accruing to owners from production before deducting any explicit or implicit interest charges, rent or other property incomes payable on the financial assets, land and other natural resources required to carry on the production.

Net Weighted Balance

Used in the Business Expectations Survey, to indicate the likely overall direction of change of a particular activity or industry. It is the difference between the weighted percentages of 'ups' and 'downs'.

A positive net weighted balance indicates a net upward trend. A negative net weighted balance indicates a downward trend.

Operating Expenditure

All expenditure incurred by the establishment in its business with adjustment for changes in inventory.

For local branches of foreign airlines and foreign shipping lines, operating expenditure refers only to:

  • Expenses incurred by the branch offices in providing support services to their head offices; and
  • Expenses paid by them on behalf of their head offices.

Operating expenditure includes:

  • Remuneration
  • Purchases
  • Taxes (less subsidies) on production
  • Work given out
  • Rental and maintenance of machinery and equipment
  • Legal, accounting and other professional services
  • Rental and maintenance of premises
  • Depreciation
  • Transport and travelling utilities
  • Advertisement
  • Entertainment
  • Stationery and printing
  • Postage and telecommunications
  • Fuel and lubricants
  • Cargo handling expenses
  • Port charges
  • Charter fees
  • Other general expenses that are connected with the establishment's operation

Operating Receipts/Turnover

Income earned by the establishment from business operations. Operating receipts include income from:

  • Services rendered
  • Sales of goods
  • Commission fees
  • Rental of premises, machinery and equipment

For local branches of foreign airlines and foreign shipping lines, their operating receipts are not the same. It refers to the reimbursement from their head offices for the operating expenditure they incurred.

Remuneration

 The total remuneration of employees. Remuneration comprises three components, namely:

  • Wages and salaries
  • Employers' contribution to Central Provident Fund (CPF) or pension funds
  • Other benefits

It does not include the remuneration of working proprietors and partners.

Retail Sales and Food & Beverage Services Indices

Measure the short-term performance of retail and food & beverage services industries. Data are compiled based on the sales records of retail and food & beverage establishments. These are primarily obtained from more than 5,000 establishments covered in the monthly retail sales and food & beverage services surveys. The base year of the indices is 2014.

The indices are presented at current and constant prices. Changes in the indices at current prices measure changes in sales values resulting from changes in price and quality. By removing the price effect, changes in indices at constant prices measure changes in the volume of economic activity.

Wholesale Trade Index

Measures the short-term performance of wholesale trade activities. Data for the compilation of the WTI are sourced from over 700 wholesale establishments covered in the quarterly survey of wholesale trade as well as from administrative records. The base year for the WTI is 2012.

Two series of the WTI are compiled - Domestic WTI and Foreign WTI. The Domestic WTI records wholesale sales in Singapore. The Foreign WTI pertains to wholesale sales outside Singapore which comprises domestic exports, re-exports, transhipment cargo and offshore merchandise.

The indices are presented at current prices and constant prices. The indices at current prices measure the changes in sales values which can result from changes in both price and quantity. By removing the price effect, the indices at constant prices measure the changes in sales volume.