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     FrontPage Edition: Mon 6 June 2005

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Key Survey Findings on Education Services 2003

Source: www.singstat.gov.sg

Education Services

ECONOMIC SURVEYS SERIES Reference Year 2003

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.
I. ECONOMIC PERFORMANCE
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.
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.
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.
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.
II. MAIN ACTIVITIES IN EDUCATION SERVICES
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.

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.

Of the total operating expenditure in 2003, remuneration took up the largest share across all industry groups (Table 1).

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.
III. KEY PERFORMANCE RATIOS
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).

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.

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.
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.

IV. PERFORMANCE BY FIRM SIZE
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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Source: Singapore Department of Statistics Press Release 6 Jun 2005

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