News

Economy Retail

Staff Reporter

, Singapore

Published:

3 years ago

Service industries' revenue sees 16.6% YoY growth in Q2

The recreation and personal services recorded the highest growth at 135% YoY.

Services industries' business receipts recorded a growth of 16.6% year-on-year (YoY) for the second quarter (Q2) of 2021, the Department of Statistics Singapore reported.

The increase can be attributed to the low base during the circuit breaker in Q2 2020, wherein sectors, such as recreation and health, were disrupted by the closure of businesses.

Recreation and personal services saw the most growth at 135%. The growth for information and communications (38.2%), health and social services (24.6%), real estate (24.4%), transportation and storage (22.2%), and professional services (12.7%) follow.

Meanwhile, administrative and support services, finance and insurance, and education saw the least increase at 3.9%, 5.2%, and 7.5%, respectively.

This, however, is excluding business receipts for wholesale trade, retail trade, and accommodation and food services.

Quarter-on-quarter, the department reported an increase of 1.9% for business receipts within the services industries.

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