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Business receipts in value terms of almost all the major service industries showed increases of different magnitudes in the second quarter of 2010 when compared with the second quarter of 2009, according to the provisional figures of business receipts indices released today (September 10) by the Census and Statistics Department (C&SD).
The Hong Kong economy continued to show a broadly-based recovery in the second quarter of 2010. Comparing the second quarter of 2010 with the second quarter of 2009, the courier industry recorded the largest increase in business receipts (+37.2%) alongside the robust business activities. The transportation (+34.8%) and accommodation (mainly referring to services provided by hotels) (+32.2%) industries also recorded significant increases in business receipts, partly attributable to the low base of comparison a year earlier caused by the spread of human swine flu. Other major service industries that recorded increases in business receipts of over 20% included the wholesale (+30.0%) and import and export trade (+21.7%) industries.
On the other hand, the financing (except banking) and banking industries recorded slight decreases of 2.7% and 0.3% in business receipts respectively amongst the major service industries.
Analysed by service domain, business receipts of the tourism, convention and exhibition services domain increased considerably by some 43% in the second quarter of 2010 when compared with the second quarter of 2009. The increase was mainly attributable to the significant increases in the number of incoming visitor arrivals and tourist spending in Hong Kong. During the same period, business receipts of the computer and information technology services domain also increased by some 34% due to the rise in the trading of computer and related products.
Comparing the second quarter of 2010 with the first quarter of 2010, most of the major service industries recorded increases in business receipts of different magnitudes. The courier industry recorded the largest increase in business receipts (+20.2%), followed by the import and export trade (+19.8%), wholesale (+19.7%) and transportation (+17.7%) industries. Decreases in business receipts were recorded mainly in the financing (except banking) (-10.6%) and retail (-7.0%) industries. It should be noted that the above comparison was affected by seasonal factors to some extent.
Table 1 presents the provisional figures of business receipts indices for selected service industries and service domains for the second quarter of 2010, while Table 2 shows the time series of the business receipts indices for the recent five quarters.
The revised business receipts indices for the second quarter of 2010 will be released at the website of C&SD (www.censtatd.gov.hk/hong_kong_statistics/index.jsp) and relevant publications of the C&SD starting from October 25, 2010.
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 which straddle 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 the tourism, convention and exhibition services domain as an example, it includes all services of hotels and travel agents; and some (those involving visitors as customers) but not all of the services of restaurants, retailers and transport operators.
The classification of service industries follows the Hong Kong Standard Industrial Classification (HSIC), which is used in various economic surveys for classifying economic units into different industry classes. Upon the implementation of the new HSIC Version 2.0 by the C&SD in October 2008, the new classification has been adopted in compiling the quarterly business receipts indices. Starting from the first quarter of 2009, all business receipts indices are compiled based on the HSIC Version 2.0, and the base period of the indices has been changed to 2008 (i.e. with the quarterly average of the indices in 2008 taken as 100).
More detailed statistics are given in the report "Quarterly Business Receipts Indices for Service Industries, Second Quarter 2010". Users can download this publication free of charge at the website of the C&SD (www.censtatd.gov.hk/products_and_services/products/publications/statistical_report/commerce_and_industry/index.jsp).
Readers who have enquiries about the business receipts indices may contact the Business Services Statistics Section of the C&SD (Tel: 2802 1277 or E-mail: business-receipts@censtatd.gov.hk).
Ends/Friday, September 10, 2010
Issued at HKT 16:31
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