Services exports data for June and for January-June 2017

20th August 2017

Specifics:

  • Total service exports for June amounted to $4bn, when measured in ‘original data’ terms — i.e. the actual amount of exports. This is a record for June and the first time that the total for any month other than December crossed the $4bn mark (in June 2013, it was $3.976bn).
  • In seasonally-adjusted terms, service exports totaled $3.6bn in June, up from $3.5bn in June 2016.
  • The June total was reached despite only $56nm in sales of start-ups — down 74% from June 2016. In the four months from March through June, revenues from sales of start-ups totalled $219mn, compared to $224mn in February alone and a massive $524mn in January 2017.
  • Thanks to the strong start, revenues from start-ups for January-June declined only 3.6%, compared to H1 2016.
  • Total exports of services in the first half grew by 7.8% compared to H1 2016.
  • Travel services — predominantly, income from tourism — rose by 22.2% in June (vs. June 2016) and by 16% in the first half (vs. H1 2016).
  • Over one-third of all service exports in the first half — $6.75bn — came from the ‘Computer programming, consultancy & related activities, data processing, hosting & related activities, web portals’ sector, which posted a 12% gain over 2016.

N.B. The CBS report of service exports compares the March data to February in seasonally-adjusted terms. IMHO, a more valid and useful comparison is with the same month last year, as presented above — as well as a quarter-on-quarter comparison.

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