Quarterly Services Index

Mr Chen Show Mao asked the Minister for Trade and Industry whether the Ministry will consider instituting a quarterly index of services exports to complement the monthly manufacturing export figures currently released by IE Singapore in order to assist in measuring and calibrating in a timely fashion our services export performance in fields, such as transport, travel, financial, business management and other services.

Mr Lim Hng Kiang: The Department of Statistics compiles and disseminates quarterly estimates on the exports of services in Singapore's balance of payments accounts. These estimates are compiled according to international statistical standards set out by the International Monetary Fund and are published in MTI's Quarterly and Annual Economic Surveys. Services exports in the balance of payments are classified into major services categories, such as transport, travel, financial and other business services, which include business management services.