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Source:
www.singstat.gov.sg |
ECONOMIC SURVEYS SERIES
Reference Year 2005 |
Transport & Storage Services |
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The transport & storage services industry
comprised 9,300 establishments in 2005. The industry employed a total of
112,400 workers, or an average of 12 workers per establishment. |
I. ECONOMIC PERFORMANCE |
Total operating receipts
generated by the transport & storage services industry was $57.9 billion
in 2005, an increase of 16.2 per cent over 2004. |
The increase was mainly due to the strong
growth registered by water transport services particularly shipping
lines and ship & boat leasing firms. On a per establishment basis,
operating receipts increased by 18.9 per cent in 2005 over 2004. |
Total operating expenditure
incurred went up by 16.0 per cent from $42.1 billion in 2004 to $48.9
billion in 2005. Correspondingly, operating expenditure per
establishment increased by 18.7 per cent to $5.3 million in 2005. |
Total operating surplus
rose by 7.6 per cent from $11.7 billion in 2004 to $12.6 billion in
2005. On a per establishment basis, operating surplus increased by 10.2
per cent to $1.4 million in 2005. |
Total value added
generated was $18.9 billion in 2005, 7.1 per cent higher compared with
the previous year. On a per establishment basis, value added grew by 9.6
per cent from $1.9 million in 2004 to $2.0 million in 2005. |
II. MAIN ACTIVITIES IN TRANSPORT &
STORAGE SERVICES |
Land1 transport firms which made
up 43.8 per cent of total establishments in transport & storage
services, accounted for the largest share of 27.2 per cent of the
industry¡¯s total workforce in 2005 (Chart 1). |
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On a per establishment basis, however, air2
transport firms were the largest employer, hiring an average of 212
workers. |
In spite of the relatively smaller
number of firms engaged in water3 and air transport
services, they accounted for 84.8 per cent and 75.0 per cent of
transport & storage services¡¯ total operating receipts and value
added respectively (Chart 2). |
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Remuneration was among the top 5
business cost items across all groups in transport & storage
services. It accounted for 6 to 44 per cent of the respective
group¡¯s total operating expenditure (Table 1). Except for firms in
the water and air transport services, remuneration was the top
business cost item for the other transport & storage services
groups in 2005. |
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For water transport services, charter
fees on vessels and other transport equipment was the most
significant business cost item in 2005, constituting 26.6 per cent
of the group¡¯s operating expenditure. For air transport services,
the top business cost item was fuel. |
III. KEY PERFORMANCE RATIOS |
Profitability Ratio
of the transport & storage services industry dropped from 23.5 per
cent in 2004 to 21.8 per cent in 2005. Within the industry, firms
engaged in storage & warehousing services continued to register
significantly higher profitability ratio of 34.0 per cent in 2005,
though this was lower than the 37.0 per cent recorded in 2004
(Chart 3). |
Except for the ¡°Other Transport¡±
group, all the transport & storage services groups registered
lower profitability ratios in 2005. |
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Earnings-expenditure Ratio
remained the highest for firms in storage & warehousing services,
at 43.3 per cent in 2005 (Chart 4). However, this group also
registered the largest drop when compared to their
earnings-expenditure ratio of 48.0 per cent in 2004. The ¡°land¡±,
¡°water¡±, ¡°air¡± and ¡°post & courier¡± groups also recorded lower
ratios, ranging from 17 to 30 per cent in 2005. |
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Average Annual Remuneration
per Employee remained the highest for
employees in air transport services. They received an average
annual remuneration of $92,300 in 2005, significantly higher than
the transport & storage services industry¡¯s average of $55,100
(Table 2). |
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IV. PERFORMANCE BY FIRM SIZE |
Firms with less than 100 workers
formed the majority (98.6 per cent) in the transport & storage
services industry (Table 3). However, firms with 200 workers &
above, which constituted only 0.7 per cent, contributed the most
to total operating receipts (59.8 per cent). |
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More..... |
1 Includes supporting services to land transport
2 Includes supporting services to air transport
3 Includes supporting services to water transport |
Source:
www.singstat.gov.sg Media
Release 3 May 2007 |
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