Turnover in the services sector (according to VAT returns)

2.2% decrease in the volume of sales in service sectors - February 2024

Economic indicators
2.2% decrease in the volume of sales in service sectors - February 2024

Service sectors

The volume of sales in all services, excluding financial and insurance activities, has decreased by 2.2% in February 2024 compared to the previous month. Yet this is a 5.5% increase compared to February 2023.

In February 2024, compared to the previous month, the sharpest increases were registered in the sectors motion picture, video and television programme production, sound recording and music publishing activities (+13.7%), business and other management consulting services (+9.3%) and services to buildings and landscape activities (+7.3%).

Compared to February 2023, the main increases concerned radio and television programming and broadcasting activities, subscription-based television (+32.5%), other professional, scientific and technical activities (+24.1%) and information service activities (+17.5%).

More info

These indices are expressed with reference year 2021=100.

This is the first publication of these indices according to REGULATION (EU) 2019/2152 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 27 November 2019 on European business statistics as regards trade (excluding retail trade) and services. According to that regulation, the indices are established on a monthly basis from reference year 2021 onwards.

This statistic is the successor to the statistic “Turnover in the service sector (according to VAT returns)”, which was published on a quarterly basis for the reference years 2000 to 2023. In addition to gross indices, Statbel also publishes indices adjusted for seasonal and working day variations.

Tabel
Content

Turnover index for the services sector (NACE 2008) according to VAT returns, last 5 years (base year = 2015)

be.STAT logoAccess to latest statistics

Purpose and brief description

Turnover includes all amounts (excluding VAT) that correspond to the sale of goods and services by the VAT payer to third parties in Belgium or abroad.

Population

VAT-registered units, of the following NACE codes (nomenclature NACE 2008): divisions 45 and 46 and sections H to N.

Frequency

Quarterly.

Release calendar

Results available 2 months after the reference period.

Definitions

Gross index (Turnover according to the VAT returns): An index shows the evolution of a variable with regard to its value during the initial period, which is called the base period (in general, the base period corresponds to one year).

Trend (Turnover according to VAT returns); The trend shows the underlying level of the original series, taking into account its long-term evolution.

Seasonally-adjusted index (Turnover according to the VAT returns): A seasonally-adjusted index takes into account the trend and the 'irregular component' (see below) of the original series, but not the seasonal and calendar effects. Seasonal effects are effects that are directly caused by the seasons or that arise from them through social customs. Calendar effects are effects that are caused by differences in the number of days per period, because of variable public holidays (e.g. Easter) or the occurrence or non-occurrence of a leap year.

Irregular component: The 'irregular component' is the part of the series that cannot be explained by the seasonal component and the trend and thus corresponds to unforeseen shocks (e.g. extreme weather phenomena, strikes).

Metadata