Services sector flexes its muscle in GDP, exports

[SINGAPORE] The services sector has been capturing a rising share of Singapore's GDP, and this looks set to continue - especially as the role of services exports expands further with time.

In a report released yesterday, the Ministry of Trade and Industry (MTI) noted how services' share of Singapore's nominal GDP has gone up over the last decade - from 64 per cent in 2003 to 70 per cent in 2013.

Correspondingly, manufacturing's share has moderated from 26 …