Exports of services as a part of balance of payment reached 173 USD bil in 2017 in Singapore, according to the National Statistical Office. This is 9.95 % more than in the previous year.
Historically, exports of services as a part of balance of payment in Singapore reached an all time high of 173 USD bil in 2017 and an all time low of 0.961 USD bil in 1972. When compared to Singapore's main peers, exports of services as a part of balance of payment in Indonesia amounted to 25.3 USD bil, 37.1 USD bil in Malaysia, 34.8 USD bil in Philippines and 75.5 USD bil in Thailand in 2017.
Singapore has been ranked 11th within the group of 156 countries we follow in terms of exports of services as a part of balance of payment, 4 places above the position seen 10 years ago.
Services (previously non-factor services) refer to the economic output of intangible commodities that may be produced, transferred and consumed at the same time.
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