Singapore - Computer, communications and other services (% of commercial service exports)

The value for Computer, communications and other services (% of commercial service exports) in Singapore was 68.66 as of 2021. As the graph below shows, over the past 49 years this indicator reached a maximum value of 68.66 in 2021 and a minimum value of 22.68 in 1999.

Definition: Computer, communications and other services (% of commercial service exports) include such activities as international telecommunications, and postal and courier services; computer data; news-related service transactions between residents and nonresidents; construction services; royalties and license fees; miscellaneous business, professional, and technical services; and personal, cultural, and recreational services.

Source: International Monetary Fund, Balance of Payments Statistics Yearbook and data files.

See also:

Year Value
1972 52.06
1973 50.06
1974 54.51
1975 62.33
1976 57.80
1977 52.46
1978 47.52
1979 37.48
1980 41.48
1981 53.18
1982 56.72
1983 55.26
1984 44.37
1985 40.93
1986 39.37
1987 39.01
1988 41.58
1989 44.70
1990 45.25
1991 47.21
1992 46.20
1993 46.85
1994 51.38
1995 22.93
1996 24.75
1997 25.41
1998 26.48
1999 22.68
2000 25.29
2001 27.37
2002 29.45
2003 30.57
2004 32.43
2005 31.78
2006 35.23
2007 32.38
2008 33.40
2009 36.49
2010 32.67
2011 34.35
2012 36.08
2013 38.45
2014 38.75
2015 42.38
2016 42.80
2017 42.17
2018 42.56
2019 44.04
2020 45.87
2021 68.66

Development Relevance: Trade in services differs from trade in goods because services are produced and consumed at the same time. Thus services to a traveler may be consumed in the producing country (for example, use of a hotel room) but are classified as imports of the traveler's country. In other cases services may be supplied from a remote location; for example, insurance services may be supplied from one location and consumed in another.

Limitations and Exceptions: Balance of payments statistics, the main source of information on international trade in services, have many weaknesses. Disaggregation of important components may be limited and varies considerably across countries. There are inconsistencies in the methods used to report items. And the recording of major flows as net items is common (for example, insurance transactions are often recorded as premiums less claims). These factors contribute to a downward bias in the value of the service trade reported in the balance of payments. Efforts are being made to improve the coverage, quality, and consistency of these data. Eurostat and the Organisation for Economic Co-operation and Development, for example, are working together to improve the collection of statistics on trade in services in member countries. Still, difficulties in capturing all the dimensions of international trade in services mean that the record is likely to remain incomplete. Cross-border intrafirm service transactions, which are usually not captured in the balance of payments, have increased in recent years. An example is transnational corporations' use of mainframe computers around the clock for data processing, exploiting time zone differences between their home country and the host countries of their affiliates. Another important dimension of service trade not captured by conventional balance of payments statistics is establishment trade - sales in the host country by foreign affiliates. By contrast, cross-border intrafirm transactions in merchandise may be reported as exports or imports in the balance of payments.

Statistical Concept and Methodology: The balance of payments (BoP) is a double-entry accounting system that shows all flows of goods and services into and out of an economy; all transfers that are the counterpart of real resources or financial claims provided to or by the rest of the world without a quid pro quo, such as donations and grants; and all changes in residents' claims on and liabilities to nonresidents that arise from economic transactions. All transactions are recorded twice - once as a credit and once as a debit. In principle the net balance should be zero, but in practice the accounts often do not balance, requiring inclusion of a balancing item, net errors and omissions. The concepts and definitions underlying the data are based on the sixth edition of the International Monetary Fund's (IMF) Balance of Payments Manual (BPM6). Balance of payments data for 2005 onward will be presented in accord with the BPM6. The historical BPM5 data series will end with data for 2008, which can be accessed through the World Development Indicators archives. The complete balance of payments methodology can be accessed through the International Monetary Fund website (www.imf.org/external/np/sta/bop/bop.htm).

Aggregation method: Weighted average

Periodicity: Annual

Classification

Topic: Private Sector & Trade Indicators

Sub-Topic: Exports