Services
Business Receipts Index (BRI)
The Business Receipts Index (BRI) measures the short-term performance of the services industries (excluding Wholesale Trade, Retail Trade, Accommodation, and Food Services) based on the operating revenue of services establishments. The base year for the index is 2014. The BRI measures the change in operating revenue which can result from changes in both price and quantity.
Depreciation
Refers to the decline in value of physical assets (such as buildings,plant and machinery) over time, measured at current replacement cost. This decline occurs due to normal wear and tear from use, technological obsolescence, and typical accidental damage. Depreciation represents the portion of an asset's value that is consumed during a specific accounting period.
E-commerce Revenue
Refers to the revenue earned from the sale of goods and services whereby the company remotely receives orders or agrees on the price and terms of sale via online means. This includes transactions through the company's website, third-party websites (e.g., online marketplaces, food delivery platforms), mobile applications, extranet or Electronic Data Interchange (e.g., GeBIZ, the Singapore Government’s one-stop e-procurement portal), regardless of how or where the goods and services are delivered or collected. This excludes orders made via telephone calls, facsimile, in-premise orders via kiosks or QR codes, and manually entered emails or messages. Payment may or may not be made online.
Enterprise
Refers to an incorporated or registered entity (such as company, sole-proprietorship, partnership, association or society, etc).
Establishment
An establishment refers to a business or organisational unit that is engaged in one primary economic activity at a single physical location.
Multiple activities at one location: When an organisation operates different economic activities at the same physical address (such as a hotel with a restaurant, retail shop, and conference facilities), each distinct activity is treated as a separate establishment for statistical purposes.
Multiple locations with same activity: When an organisation operates the same type of business at different physical addresses (such as a retail chain with stores in various locations), each location is counted as a separate establishment, even if they share the same ownership, management, or brand name.
Food & Beverage Services Index
The Food & Beverage Services Index (FSI) measures the short-term performance of the food & beverage (F&B) services industry based on the sales records of F&B services establishments. Individual stalls in hawker centres, food courts, coffee shops or canteens are not covered. The base year for the indices is 2017. The FSI is available at current prices and in chained volume terms. The indices at current prices measure the change in sales values which can result from changes in both price and quantity, while the indices in chained volume terms measure the change in the volume of economic activity by removing the price effect.
Gross Operating Surplus
The surplus accruing to owners from production before deducting property incomes payable on financial assets and other natural resources required to carry on the production. Estimates for Gross Operating Surplus are mainly derived as the value of output less intermediate consumption, Compensation of Employees and Other Taxes less Subsidies on Production. National accounts adjustments such as financial intermediation services implicitly measured (FISIM) and capitalisation of software as well as research & development (R&D) expenditure are incorporated.
Net Weighted Balance
Used in the measure of Business Expectations, to indicate the likely overall direction of change of a particular activity or industry. Net weighted balance is calculated by taking the difference between the weighted percentages of 'ups' and 'downs'.
A positive net weighted balance indicates an upward trend while a negative net weighted balance indicates a downward trend.
Operating Expenditure
Refers to costs incurred in an entity's day-to-day operations, adjusted for changes in inventory. These expenses are fully recognised in the current accounting period and include remuneration, purchases of goods and materials, work contracted out, rental and maintenance of premises, machinery and equipment, professional services, utilities, transport, advertising, depreciation, indirect taxes, and other expenses directly related to the entity's operations. This excludes capital expenditure, loan principal repayments, and interest expenses.
Operating Revenue
Refers to income generated from an entity's operational activities, including both primary and secondary activities. This generally excludes investment income, gains (net of losses) from asset sales, or other non-operating sources, though specific inclusions may vary by industry.
For Services industry: This includes income from services rendered, sale of goods, commission fees, and rental of premises, machinery and equipment.
For Utilities industry: This includes income from supply or resale of utilities (such as electricity, gas, and water), resale of other goods (such as recycled materials), and provision of environmental health services including waste treatment and disposal.
Operating Revenue Per Square Metre
Defined as operating revenue divided by total floor area (in square metres). Floor area includes selling space, office space and storage space at the premise, but excludes those rented out, open spaces, open car parks, staff accommodation and unoccupied premises. Space occupied by concessionaires is also included for department stores and supermarkets.
Remuneration
Comprises all forms of compensation provided to employees and includes:
- Wages and salaries including commissions, bonuses and overtime pay before deduction of employee's contribution to CPF or any other deductions, as well as paid annual leave and paid sick leave.
- Employer's contribution to CPF and pension funds, but excludes pension and gratuities paid to retired employees.
- Stock options and other share-based payments given to employees as part of their remuneration package.
- Staff benefits such as medical care, meals, housing, transport, and other benefits-in-kind provided to employees by the firm, but excludes retrenchment benefits, entertainment allowances, cost of staff uniforms, and travel, accommodation, and other daily allowances provided in connection with business travel (i.e. per diems).
Retail Sales Index
The Retail Sales Index (RSI) measures the short-term performance of the retail trade industry based on the sales records of retail trade establishments. The base year for the indices is 2017. The RSI is available at current prices and in chained volume terms. The indices at current prices measure the change in sales values which can result from changes in both price and quantity, while the indices in chained volume terms measure the change in the volume of economic activity by removing the price effect.
Seasonally Adjusted
Seasonal adjustment is the process of estimating and removing the seasonal and calendar effects from a time series so as to show its underlying trend and short-term movements clearly. The seasonally adjusted time series facilitate a better assessment of their recent movements.
Wholesale Trade Index
The Wholesale Trade Index (WTI) measures the short-term performance of the wholesale trade industry based on the sales records of wholesale establishments. The index series consist of the Domestic WTI and Foreign WTI. The Domestic WTI measures the trend of wholesale sales in Singapore, while the Foreign WTI measures that of wholesale sales outside Singapore, comprising sales of off-shore merchandise, domestic exports, re-exports and transshipment cargo. The base year for the indices is 2017. The Domestic WTI and Foreign WTI are available at current prices and in chained volume terms. The indices at current prices measure the change in sales values which can result from changes in both price and quantity, while the indices in chained volume terms measure the change in the volume of economic activity by removing the price effect.
Value Added
Gross value added is derived by the output or income approach. The output approach measures value added as output less intermediate consumption. Output refers to the value of goods and services produced while intermediate consumption is value of goods and services consumed as inputs by a process of production, e.g. materials, utilities, fuel, rental paid for premises and equipment, banking and financial charges and other operating costs. The income approach derives value added as the sum of incomes generated from the domestic production of goods and services, which comprise gross operating surplus, remuneration and taxes (less subsidies) on production.