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The services sector increased its turnover by 2.4% in 2023 and adds three years of promotions

Employment registered a growth of 1.

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The services sector increased its turnover by 2.4% in 2023 and adds three years of promotions

Employment registered a growth of 1.9% last year, two points less than in 2022

The services sector registered an average increase in its turnover of 2.4% in 2023, thus chaining its third consecutive year of increase in sales, according to data released this Wednesday by the National Institute of Statistics (INE).

However, the rebound in 2023 has been lower than that achieved in 2022, when the largest increase in the series was achieved, of almost 20%, and is also below the 15.8% growth experienced in 2021.

Commerce increased its sales by 0.6% last year, while other services invoiced 6.2% more than in 2022. Within commerce, the sale and repair of vehicles and motorcycles was the one that increased its turnover the most in 2023, with an average annual advance of 16.5%, followed by retail trade (8.9%). On the other hand, wholesale trade reduced its sales by 4.9%.

For its part, with regard to other services, the largest annual increases in billing occurred in the hospitality industry (10.7%) and administrative activities and auxiliary services (9.4%), followed by professional activities, scientific and technical (8.3%); information and communications (6.7%), and transportation and storage (0.7%);

Within the hospitality industry, accommodation services increased their turnover by 14.4% in 2023, while food and beverage services increased their turnover by 8.8%.

Apart from the hospitality industry, the rebound in sales of travel agencies (27%), air transport (21%) and the sale of vehicles, motorcycles and spare parts (18%) stood out.

On the decline side, in 2023 the drop in sales in other specialized wholesale trade (-20.3%) and trade intermediaries (-5.7%) stood out.

In December 2023, the turnover of services (without correcting for seasonal and calendar effects) fell 0.7% compared to the same month in 2022, a rate 1.2 points lower than that of November.

In monthly rate (December 2023 over November of the same year), the billing of services, eliminating the seasonal and calendar effect, fell by 0.1%, in contrast to the monthly advance of 1% registered in November.

Corrected for seasonal and calendar effects, billing for services rose 2.7% in 2023 as a whole, after sales increased by 0.8% in commerce and 6.6% in other services.

EMPLOYMENT IN SERVICES ADVANCES BY 1.9% IN 2023

Employment created by the services sector registered an average increase of 1.9% last year, two points less than in 2022. Despite this slowdown in the pace of employment growth, employment in the sector has also seen three years of rebounds. after the disaster it suffered in 2020 due to the outbreak of Covid (-4.3%).

Employment grew in 2023 by 1.7% in commerce and 2.1% in other services. Within the latter, the greatest increase in employment was recorded in information and communications (4%), followed by transportation and storage (3%), professional activities (2.7%) and hospitality (2.6%). On the other hand, employment contracted 0.2% in administrative activities.

For its part, within commerce, the retailer increased its workforce by an average of 1.8% in 2023, while the wholesaler increased its workforce by 1.7% and the sale and repair of vehicles by 1.4%.

BALEARIC ISLANDS LEAD THE GROWTH IN SALES AND EMPLOYMENT IN 2023

In the whole of 2023, all the communities, except Madrid, increased the turnover of the services sector, highlighting the increases registered by the Balearic Islands (13.3%), Asturias (7.9%) and La Rioja (7.1% ). Madrid, for its part, cut its sales by an average of 2.2% in 2023.

Regarding employment, employed personnel also increased last year in 16 regions, as it only decreased in Cantabria (-0.1%).

The greatest advances in employment in the services sector were recorded in the Balearic Islands and the Canary Islands, with increases of 5.7% and 3.2%, respectively, in average terms.

Keywords:
INE