Business receipts of service industries rise 3.2% YoY in 3Q23

Recreation & Personal Services had the highest growth in revenue amongst industries.

Business receipts of the service industries, excluding Wholesale Trade, Retail Trade, Accommodation and Food Services, grew 3.2% YoY and 1.9% QoQ in the third quarter of 2023.

The Department of Statistics Singapore (SingStat) said most industries recorded higher revenue during the quarter, increasing overall business receipts.

Amongst industries, Recreation & Personal Services had the biggest growth, with receipts rising by 20.8% YoY.

Real Estate (+4.6% YoY), Finance and Insurance (+11.7% YoY), Professional Services (+2.8% YoY), Information and Communications (+15.0% YoY), Education (+7.4% YoY), Health & Social Services (+5.8% YoY) also recorded revenue increase in 3Q23.

On the other hand, Transportation & Storage (-20.7% YoY) and Administrative and Support Services (-7.0% YoY) recorded declines.

Follow the link for more news on

Department of Statistics

Singapore Business Receipt Index

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia

Top News

Skylink sells $5m bonds at 8% to boost credit business

The two-year issue is unlisted and pays interest every six months.

Markets & Investing

1 hour ago

Mi Material launches $215m IPO amidst Asia, US expansion plans

The company plans to establish an R&D and demo centre in Texas.Semiconductor materials unit Mi Material Holding Ltd has launched a $215m initial public offering (IPO) on the Singapore Exchange (SGX) Mainboard to support its expansion plans across Asia and the United States (US).

Markets

1 hour ago

Keppel REIT to buy 51% of Keppel South Central