Singapore’s total services trade grows 2.3pc in 2018

16th February, 2019 09:22:10 printer

SINGAPORE: Singapore's total services trade grew by 2.3 percent in 2018, after the 11.7 percent expansion in the previous year, a government agency Enterprise Singapore announced on Friday.

The total services trade value reached 500.4 billion Singapore dollars (about 368.34 billion U.S. dollars) for the year. Meanwhile, both services exports and imports increased by 4.1 percent and 0.6 percent in 2018 respectively, reports Xinhua.

In the fourth quarter of 2018, the total services trade rose by 1.4 percent year on year, compared to an increase of 2.4 percent in the previous quarter. In a breakdown, exports of services grew by 2.8 percent year on year, following the 4.4 percent increase in the preceding quarter.