Turnover in the services sector 1st Quarter 2022

Economic indicators
Turnover in the services sector 1st Quarter 2022

The turnover of all sectors monitored in this statistic increased in the first quarter of 2022 compared to the same period last year. Indeed, all enterprises were fully active in the first quarter of 2022 while in some sectors, such as air transport, travel and reservation services and the ‘horeca’ sector, enterprises were still (partly) closed or just starting up again in the first quarter of 2021. It is therefore in these sectors that the greatest increases in turnover are recorded: +424% in the sector ‘N79 Travel agency, tour operator and other reservation service and related activities’, +138% in the ‘horeca’ sector and +107% in the air transport sector. In the sector ‘J59 Motion picture, video and television programme production, sound recording and music publishing activities’, a sector that was still faced with restrictive measures in the first quarter of 2021 (which was no longer the case in the first quarter of 2022), the turnover increase amounts to 54%.

This statistic gives the turnover indices for a number of sectors specified by Eurostat: the wholesale trade and a number of services such as transport, accommodation and food service activities, ICT, advertising and market research. The sectors are divided according to the 2008 NACE classification and Eurostat's specifications. Consequently, indices are also available for some subsectors on a more detailed level (e.g. G46) and other subsectors are brought together (e.g. M69 and M702). The indices per year give an overview of the evolution of the turnover for a particular sector during the last few years. The reference year is 2015. The quarterly indices reflect the evolution during a given year and can also be used to make year-on-year comparisons of a particular quarter. This way, they make it possible to detect cyclical changes. These indices are gross indices, but the user can create himself a table also showing the seasonally-adjusted indices and the trend. The figures of the last 2 years should always be considered as provisional and can still be revised due to late and/or different VAT returns.