Southeast Asia > Singapore > Economy

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Agriculture > products rubber, copra, fruit, orchids, vegetables, poultry, eggs, fish, ornamental fish
Big Mac Index	$2.20		[35th of 65]
Business efficiency	89.679		[3rd of 51]
Debt > External	$25,590,000,000.00		[63rd of 136]
Distribution of family income > Gini index	52.2		[5th of 43]
Economic freedom	3.5		[2nd of 156]
Economy > Overview 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.
Exchange rates Singapore dollars per US dollar - 1.6902 (2004), 1.7422 (2003), 1.7906 (2002), 1.7917 (2001), 1.724 (2000)
Exports	$302,700,000,000.00		[14th of 189]
GDP	$132,158,500,000.00		[40th of 203]
GDP > PPP	$118,226,000,000.00		[54th of 163]
GDP > Real growth rate	7.7%		[35th of 198]
GDP growth > annual %	6.38 annual %		[45th of 187]
GINI index	42.48		[20th of 40]
Gross National Income	$88,812,300,000.00		[33rd of 172]
Human Development Index	0.907		[25th of 178]
Income category	High income: nonOECD
Public debt	96.3 % of GDP		[8th of 121]
Research and development spending	1.1%		[26th of 69]
Tourist arrivals	6,531,000		[18th of 152]

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