Trade in Services

Exports of Services

Refers to the value of cross-border services which are provided by residents to non-residents. In the case of Singapore, these exports represent the value of services provided by entities in Singapore to entities in other countries.

Imports of Services

Refers to the value of cross-border services which are provided by non-residents to residents. In the case of Singapore, these imports represent the value of services provided by entities in other countries to entities in Singapore.

Residency

Conceptually, international trade in services is said to have taken place when one company provides a service to a company resident in another geographical territory. An entity is said to be a resident of a geographical territory when it engages in significant economic activities in the geographical territory for a period of time, usually more than one year.