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The value of exports of services reached $669 billion last year, representing an average annual growth rate of 9.2% on 1999, the Census & Statistics Department says.
In the 2010 edition of the Statistical Digest of the Services Sector published today, it shows the exports of merchanting and other trade-related services represented the most important major service group last year, contributing 30.2% to the value of total services exports.
It was followed by exports of transportation services and travel services, contributing 29% and 19.1% to the value of total services exports last year.
In 1999, the respective percentage shares of these three major service groups in the total value of services exports were 29.5%, 32.3% and 15.5%.
In 2009, the services sector as a whole engaged 3.1 million people out of the 3.5 million overall employment.
The contribution of the services sector to GDP increased from 86.1% in 1999 to 92% in 2008.
While the services sector registered an increase in the share of the GDP over the period from 1999 to 2008, the relative importance of the manufacturing sector declined correspondingly, as reflected by its contribution to the GDP, which went down from 5.3% in 1999 to 2.5% in 2008.
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