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 and Recreation
  • Community & Personal services.

 The BRI is compiled at current prices, with 2014 as the base year.

Establishment

Defined as a business or organisation unit engaged in one activity and operating in a single location. Thus, for a multi-activity firm or organisation, units engaged in separate activities in the same location constitute distinct establishments. Similarly, each branch of a multi-branch organisation at a different location is conceptually a different establishment.

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 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 upward trend while negative net weighted balance indicates a downward trend.

Operating Expenditure

Refers to all expenditure incurred by the establishment in its business with adjustment for changes in inventory.

It includes:
  • Remuneration
  • Purchases
  • Indirect taxes
  • 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
  • Freight charges
  • Other expenses that are connected with the establishment's operation

Operating Receipts/Turnover

Refers to income earned from business operations, i.e. income from services rendered, sale of goods, commission fees and rental of premises, machinery and equipment.

Remuneration

Total remuneration comprises three components, namely, wages and salaries, employers' contribution to Central Provident Fund (CPF)/pension funds and other benefits.
These are reported separately for each category of persons engaged.

  • Wages and Salaries
    Refers to gross emoluments paid to employees during 2016, inclusive of commissions, bonuses, overtime pay and allowances before deduction of employees' contribution to CPF or any other deduction. For proprietors or partners, the item refers to amount paid to or withdrawn by them during the year. However, this amount is not included in the analysis and tables of the report.
  • Employers' Contribution to CPF/Pension Funds
    Refers to the net amount contributed by employers towards their employees' CPF/pension funds.  It does not include the amount paid to retired employees under company pension scheme.
  • Other benefits
    Comprises medical benefits, cost of food and accommodation, and other benefits in kind provided by employers. Allowances given to unpaid family workers are also included here.
  • Directors' Fee
    Refers only to the amount paid to directors for attending board of directors' meetings. It does not include the fees paid to directors who are actively engaged in running the establishment.

Retail Sales and Food & Beverage Services Indices

Measures the short-term performance of the 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 650 enterprises covered in the monthly retail sales and food & beverage services surveys. The base year for the indices is 2014.

The indices are presented at both current prices and constant prices.  Changes in the indices at current prices measure the changes in sales values resulting from changes in both price and quantity. By removing the price effect, the changes in indices at constant prices measure the 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 trade enterprises 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 measures wholesale sales outside Singapore, which comprises domestic exports, re-exports, transhipment cargo and offshore merchandise.

The indices are presented at both current prices and constant prices. Changes in 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 changes in indices at constant prices measure the changes in the volume of sales.