SINGAPORE, Aug. 27 (Xinhua) -- Business receipts in Singapore's services sector rose 25.5 percent year on year in the second quarter of 2026, driven by strong growth in wholesale trade and transportation and storage, official data showed on Thursday.
All industries within the services sector recorded year-on-year growth in business receipts, except recreation and personal services, and food and beverage services, the Department of Statistics said in a statement.
The wholesale trade industry posted a 27.8 percent increase in business receipts, mainly driven by higher wholesale trade in electronic components and petroleum and petroleum products.
Meanwhile, turnover in the transportation and storage industry rose 26.5 percent, with water transport recording the strongest growth amid elevated sea freight rates.
In contrast, receipts in the recreation and personal services industry fell 2.5 percent, largely due to lower revenue from arts, sports and recreational activities.
On a quarter-on-quarter basis, non-seasonally adjusted business receipts rose 16.9 percent in the April-June period.
Total business receipts in Singapore's services sector were estimated at 1.58 trillion Singapore dollars (1.24 trillion U.S. dollars) in the second quarter. ■