header HomePlacesMapsMap Products & ServicesHotels & TravelDestination GuidesWeb DirectoryContact

Singapore:
Economy

Flag of Singapore
Click to enlarge

Singapore Page


Economy - overview
Definition
Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP equal to that of the four largest West European countries. The economy depends heavily on exports, particularly in consumer electronics and information technology products. It was hard hit from 2001-03 by the global recession, by the slump in the technology sector, and by an outbreak of Severe Acute Respiratory Syndrome (SARS) in 2003, which curbed tourism and consumer spending. Fiscal stimulus, low interest rates, a surge in exports, and internal flexibility led to vigorous growth in 2004-07 with real GDP growth averaging 7% annually. The government hopes to establish a new growth path that will be less vulnerable to the global demand cycle for information technology products - it has attracted major investments in pharmaceuticals and medical technology production - and will continue efforts to establish Singapore as Southeast Asia's financial and high-tech hub.
GDP (purchasing power parity)
Definition - World rank and map
$228.1 billion (2007 est.)
GDP (official exchange rate)
Definition
$161.3 billion (2007 est.)
GDP - real growth rate
Definition - World rank and map
7.7% (2007 est.)
GDP - per capita
Definition - World rank and map
$49,700 (2007 est.)
GDP - composition by sector
Definition
agriculture: 0%
industry: 31.2%
services: 68.8% (2007 est.)
Labor force
Definition
2.751 million (2007 est.)
Labor force - by occupation
Definition
manufacturing 21%, construction 5%, transportation and communication 7%, financial, business, and other services 42%, other 25% (2006)
Unemployment rate
Definition - World rank and map
2.1% (2007 est.)
Population below poverty line
Definition
NA%
Household income or consumption by percentage share
Definition
lowest 10%: 1.9%
highest 10%: 32.8% (1998)
Distribution of family income - Gini index
Definition - World rank and map
52.2 (2005)
Inflation rate (consumer prices)
Definition - World rank and map
2.1% (2007)
Investment (gross fixed)
Definition - World rank and map
24.9% of GDP (2007 est.)
Budget
Definition
revenues: $27 billion
expenditures: $21.5 billion (2007 est.)
Public debt
Definition - World rank and map
101.2% of GDP (2007 est.)
Agriculture - products
Definition
rubber, copra, fruit, orchids, vegetables; poultry, eggs; fish, ornamental fish
Industries
Definition
electronics, chemicals, financial services, oil drilling equipment, petroleum refining, rubber processing and rubber products, processed food and beverages, ship repair, offshore platform construction, life sciences, entrepot trade
Industrial production growth rate
Definition - World rank and map
7.4% (2007 est.)
Electricity - production
Definition - World rank and map
39.44 billion kWh (2006)
Electricity - consumption
Definition - World rank and map
35.92 billion kWh (2006)
Electricity - consumption per capita
Definition - World rank and map
7,794.9 kWh (2006)
Electricity - exports
Definition
0 kWh (2006)
Electricity - imports
Definition
0 kWh (2006)
Oil - production
Definition - World rank and map
9,836 bbl/day (2005 est.)
Oil - consumption
Definition - World rank and map
802,000 bbl/day (2005 est.)
Oil - consumption per 1,000 people
Definition - World rank and map
174 bbl/day (2005 est.)
Oil - exports
Definition - World rank and map
1.073 million bbl/day (2004)
Oil - imports
Definition - World rank and map
1.83 million bbl/day (2004)
Oil - proved reserves
Definition - World rank and map
0 bbl (1 January 2006 est.)
Natural gas - production
Definition - World rank and map
0 cu m (2006 est.)
Natural gas - consumption
Definition - World rank and map
6.8 billion cu m (2006 est.)
Natural gas - consumption per capita
Definition - World rank and map
1,476 cu m (2006 est.)
Natural gas - exports
Definition - World rank and map
0 cu m (2006 est.)
Natural gas - imports
Definition - World rank and map
6.339 billion cu m
note: from Indonesia and Malaysia (2005)
Natural gas - proved reserves
Definition - World rank and map
0 cu m (1 January 2006 est.)
Current account balance
Definition - World rank and map
$39.16 billion (2007 est.)
Exports
Definition - World rank and map
$450.6 billion f.o.b. (2007 est.)
Exports - commodities
Definition
machinery and equipment (including electronics), consumer goods, chemicals, mineral fuels
Exports - partners
Definition
Malaysia 12.9%, Hong Kong 10.5%, Indonesia 9.8%, China 9.7%, US 8.9%, Japan 4.8%, Thailand 4.1% (2006)
Imports
Definition - World rank and map
$396 billion (2007 est.)
Imports - commodities
Definition
machinery and equipment, mineral fuels, chemicals, foodstuffs
Imports - partners
Definition
Malaysia 13.1%, US 12.5%, China 12.1%, Japan 8.2%, Taiwan 5.9%, Indonesia 5.6%, South Korea 4.9% (2006)
Reserves of foreign exchange and gold
Definition - World rank and map
$163 billion (31 December 2007 est.)
Debt - external
Definition - World rank and map
$25.59 billion (31 December 2007 est.)
Stock of direct foreign investment - at home
Definition
$214.5 billion (2007 est.)
Stock of direct foreign investment - abroad
Definition
$111.2 billion (2005)
Market value of publicly traded shares
Definition
$382.4 billion (2007)
Economic aid - recipient
Definition
$0 (2007)
Currency (code)
Definition
Singapore dollar (SGD)
Exchange rates
Definition
Singapore dollars per US dollar - 1.507 (2007), 1.5889 (2006), 1.6644 (2005), 1.6902 (2004), 1.7422 (2003)
Fiscal year
Definition
1 April - 31 March


Google
 
Web sitesatlas.com