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Business receipts in value terms of all service industries increased in the third quarter of 2007 over a year earlier, according to the provisional business receipts indices released today (December 10) by the Census and Statistics Department (C&SD).
Comparing the third quarter of 2007 with a year earlier, business receipts of the financing (except banking), banking and insurance industries increased substantially by 100.1%, 47.7% and 41.8% 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 banking industry was mainly attributable to the continuous growth of non-interest income. As for the increase in business receipts of the insurance industry, it was mainly due to the growth in life insurance business.
Other service industries that recorded notable increases in business receipts included the real estate (+27.8%), hotels (+15.7%), restaurants (+15.1%), wholesale/retail (+13.6%), business services (+12.0%), storage (+12.0%) and transport (+11.6%).
Analysed by service domain, comparing the third quarter of 2007 with a year earlier, business receipts of the tourism, convention and exhibition services domain increased by 17.6%, attributable to the growth in inbound tourism. During the same period, business receipts of the computer and information services domain increased slightly by 1.6%.
Comparing the third quarter of 2007 with the second quarter of 2007, and bearing in mind that this comparison might be affected by seasonal factors, business receipts of most service industries recorded increases. Among service industries that recorded increases in business receipts, larger increases were recorded in the financing (except banking) (+21.1%), import and export trade (+12.2%), transport (+12.0%) and film entertainment (+10.2%) industries. On the other hand, among service industries which recorded decreases in business receipts, a larger decrease was recorded in the hotels industry (-1.3%).
Table 1 presents the provisional business receipts indices for service industries and service domains for the third quarter of 2007, while Table 2 shows the time series of the business receipts indices for the recent five quarters.
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 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, Third 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/Monday, December 10, 2007
Issued at HKT 16:16
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