Singapore services receipts up 15.4% in Q4

Figure is even higher than pre-Covid numbers in Q4 2019 - in line with recovery in services sector amid border reopenings

Tessa Oh

Published Sat, Feb 26, 2022 · 05:50 AM

Singapore economy

Singapore

SINGAPORE'S services industries saw business receipts rise 15.4 per cent year on year for the fourth quarter, said the Department of Statistics (Singstat) on Friday (Feb 25).

Q4's business receipts were even higher than in Q4 2019, before the Covid-19 pandemic, Singstat's data showed. On a quarter-on-quarter, non-seasonally adjusted basis, business receipts were also up 7.2 per cent. However, Singstat's business receipts index excludes wholesale trade, retail trade, and accommodation and food services, which are tracked separately.