***********************************************************
Business receipts in value terms of all service industries increased in 2007 over a year earlier, according to the provisional business receipts indices released today (March 11) by the Census and Statistics Department (C&SD).
Comparing 2007 with 2006, business receipts of the financing (except banking), real estate and banking industries increased notably by 68.8%, 39.1% and 38.4% respectively.
The increase in business receipts of the financing (except banking) industry was mainly fuelled by the buoyant local stock market, while that of the real estate industry was mainly attributable to the brisk trading activities in the property market. As for the increase in business receipts of the banking industry, it was mainly due to the continuous growth of non-interest income.
Other service industries that recorded larger increases in business receipts included insurance (+28.4%), storage (+15.9%), hotels (+15.4%), restaurants (+13.5%), business services (+13.2%), wholesale/retail (+12.3%) and transport (+10.8%).
Analysed by service domain, business receipts of the tourism, convention and exhibition services domain and the computer and information services domain both increased, by 17.1% and 6.5% respectively.
Comparing the fourth quarter of 2007 with the fourth quarter of 2006, business receipts of all service industries increased. Larger increases were recorded in the financing (except banking) (+83.1%), real estate (+66.8%), banking (+45.3%), insurance (+34.0%), wholesale/retail (+17.2%), hotels (+17.0%), communications (+15.5%), restaurants (+15.1%), transport (+14.6%) and business services (+14.2%) industries.
As regards service domain, business receipts of the tourism, convention and exhibition services domain increased by 21.5% in the fourth quarter of 2007 over the fourth quarter of 2006, while that of the computer and information services domain increased by 14.7%.
Comparing the fourth quarter of 2007 with the third quarter of 2007, and bearing in mind that this comparison might be affected by seasonal factors, business receipts of most service industries recorded increases. Larger increases were observed in the hotels (+39.3%), real estate (+37.0%), financing (except banking) (+26.8%), banking (+18.9%) and insurance (+12.2%) industries.
Table 1 presents the provisional business receipts indices for selected service industries and service domains for the fourth quarter of 2007, while Table 2 shows the time series of the business receipts indices for the recent five quarters. Business receipts indices for 2007 are also included.
Data for compiling the business receipts indices are mainly based on the Quarterly Survey of Service Industries conducted by the C&SD, supplemented by relevant data provided by the Hong Kong Monetary Authority and the Hong Kong Tourism Board.
A service domain differs from a service industry in that it comprises those economic activities straddling across different industries but are somehow related to a common theme. It may include all activities carried out by all establishments in a service industry that is closely related to the domain. For a service industry that is less closely related, however, only a portion of the establishments in the industry or even only part of the economic activities of the establishments is related to the domain. Taking tourism as an example, it includes all activities of all hotels and travel agents; and some (those involving visitors as customers) but not all of the activities of restaurants, retailers and transport operators.
Details of the compilation method of the business receipts indices are given in the report "Quarterly Business Receipts Indices for Service Industries, Fourth Quarter 2007"
Users can download the report free of charge at the website of the C&SD (www.censtatd.gov.hk/products_and_services/products/publications/index.jsp).
Print version of the report is available for sale at HK$11 per issue. Purchase can be done in person at the Publications Unit of the C&SD (Address: 19/F Wanchai Tower, 12 Harbour Road, Wan Chai; Tel: 2582 3025) or through mail order by returning a completed order form which can be downloaded from the C&SD's website (www.censtatd.gov.hk/products_and_services/other_services/provision_of_stat/mail_ordering_of_publications/index.jsp). Print version of the report is also available for sale online at the Government Bookstore of the Information Services Department (www.bookstore.gov.hk).
Enquiries about the report can be directed to the Business Services Statistics Section of the C&SD at telephone number 2802 1277 or email address business-receipts@censtatd.gov.hk.
Ends/Tuesday, March 11, 2008
Issued at HKT 16:15
NNNN
