SINGAPORE, May 28 (Xinhua) -- Singapore's business receipts for the services sector rose 3.7 percent year on year in the first quarter of 2026, supported by growth across all industries, official data showed on Thursday.
Excluding wholesale trade, business receipts increased 9.7 percent, the Singapore Department of Statistics said in a statement.
The wholesale trade sector recorded a 2.5 percent increase in sales, driven mainly by higher wholesale activity in electronic components, telecommunications equipment and computers.
The information and communications industry posted the strongest growth, with turnover rising 18.4 percent year on year, largely supported by social networking platforms and information service activities.
Meanwhile, the transportation and storage sector saw receipts climb 5.7 percent, boosted by stronger performance in water and air transport segments.
On a quarter-on-quarter basis, however, non-seasonally adjusted business receipts for the services sector declined 4.6 percent in the first quarter. Excluding wholesale trade, receipts fell 5.3 percent.
The department estimated total business receipts for the services sector at 1.33 trillion Singapore dollars (about 1.04 trillion U.S. dollars) in the January-March period. Excluding wholesale trade, receipts were estimated at around 240 billion Singapore dollars. ■
