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In 2003, the education services industry comprised
2,800 establishments. The industry employed some 49,300 workers, or an average
employment size of 18 workers per establishment. |
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I. ECONOMIC PERFORMANCE |
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Total operating receipts generated by the
education services industry was $1,980 million in 2003, representing a 2.5 per
cent increase over 2002. However, on a per establishment basis, operating
receipts dropped by 11.7 per cent to $705,100 in 2003. |
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Total operating expenditure went up by 4.0 per
cent from $4,728 million in 2002 to $4,919 million in 2003. Operating
expenditure per establishment, however, decreased by 10.4 per cent during the
same period. |
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Total operating surplus amounted to $731 million
in 2003, representing a decline of 3.7 per cent compared with the previous
year. Correspondingly, operating surplus per establishment decreased by 17.1
per cent to $260,200 in 2003. |
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Total value added grew by 2.1 per cent from $3,516
million in 2002 to $3,589 million in 2003. On a per establishment basis, value
added dropped by 12.1 per cent to $1.3 million in 2003. |
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II. MAIN ACTIVITIES IN EDUCATION SERVICES |
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Of the total number of establishments in 2003,
almost half was made up of general education and technical & commercial
education services (Chart 1). Institutions of higher education, usually of a
larger set-up, had the largest employment share, engaging a total of 17,700
workers or 35.8 per cent of total employment in 2003. |
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In terms of operating receipts and value added,
the ¡°higher education¡± group was the largest contributor, accounting for 34.5
per cent and 56.2 per cent of the respective totals (Chart 2). General
education was ranked next, followed by technical & commercial education, with
contributions of 21-24 per cent of total operating receipts and 10-27 per cent
of total value added. |
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Of the total operating expenditure in 2003,
remuneration took up the largest share across all industry groups (Table 1). |
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With the exception of the ¡°other education
services¡± group, remuneration accounted for more than 45 per cent of the rest
of the education services groups¡¯ total operating expenditure. Depreciation
was the second largest expenditure item for general and higher education. Of
the $2,712 million of operating expenditure incurred by higher education
institutions, nearly one- fifth was attributed to depreciation. |
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III. KEY PERFORMANCE RATIOS |
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Profitability Ratio of overall education services
dropped from 17.7 per cent in 2002 to 12.5 per cent in 2003, due to lower
profitability ratios (8-19 per cent) registered by all groups in 2003. Within
the education industry, the ¡°other schools & instruction¡± group recorded the
highest profitability ratio of 18.6 per cent in 2003 (Chart 3). |
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Cost Effectiveness, as measured by the
earnings-expenditure ratio, stood at 13.6 per cent for the education services
industry in 2003. Among education services, the ¡°other schools & instruction¡±
and ¡°other education services¡± groups continued to register relatively higher
ratio s of 21-22 per cent (Chart 4). In contrast, technical & commercial
education services registered the lowest earnings-expenditure ratio of 8.8 per
cent in 2003. |
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Average Annual Remuneration per Employee was the
highest for employees in higher education services (Table 2). They received an
average remuneration of $84,700 in 2003. On the other hand, employees in the
¡°other schools & instruction¡± group were the lowest paid, receiving an average
of $28,600. |
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Value Added per Worker was $72,800 for overall
education services in 2003. Higher education institutions continued to
register the highest value added of $114,300 per worker among all the industry
groups (Chart 5). In contrast, the ¡°other education services¡± group recorded
the lowest value added per worker of $36,600. |
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IV. PERFORMANCE BY FIRM SIZE |
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Small firms (ie less than 10 workers) formed the
majority (78.5 per cent) in the education services industry in 2003 (Table 3).
However, large firms (100 workers & above) which constituted only 2.5 per
cent, contributed the most to total operating receipts (58.8 per cent). This
group¡¯s value added per worker was also the highest at $96,000 in 2003. |
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More..... |
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Source:
Singapore Department of Statistics
Press Release 6 Jun 2005 |
Key Survey Findings on Education Services 2003
