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Agriculture > products rubber, copra, fruit, orchids, vegetables, poultry, eggs, fish, ornamental fish |
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Big Mac Index
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$2.20 |
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[35th of 65]
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Business efficiency
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89.679 |
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[3rd of 51]
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Debt > External
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$25,590,000,000.00 |
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[63rd of 136]
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Distribution of family income > Gini index
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52.2 |
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[5th of 43]
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Economic freedom
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3.5 |
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[2nd of 156]
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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) |
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Exports
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$302,700,000,000.00 |
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[14th of 189]
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GDP
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$132,158,500,000.00 |
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[40th of 203]
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GDP > PPP
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$118,226,000,000.00 |
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[54th of 163]
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GDP > Real growth rate
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7.7% |
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[35th of 198]
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GDP growth > annual %
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6.38 annual %
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[45th of 187]
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GINI index
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42.48
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[20th of 40]
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Gross National Income
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$88,812,300,000.00 |
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[33rd of 172]
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Human Development Index
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0.907 |
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[25th of 178]
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Income category
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High income: nonOECD |
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Public debt
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96.3 % of GDP |
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[8th of 121]
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Research and development spending
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1.1% |
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[26th of 69]
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Tourist arrivals
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6,531,000 |
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[18th of 152]
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... View all Economy stats
SOURCES: CIA World Factbook, 28 July 2005; The Economist.; IMD International, 2005; All CIA World Factbooks 18 December 2003 to 18 December 2008; The Heritage Foundation; World Development Indicators database and CIA World Factbook; World Bank. 2005. World Development Indicators 2005.; World Development Indicators database; ; Human Development Report 2006, United Nations Development Programme; ; World Bank. 2002. World Development Indicators 2002. CD-ROM. Washington, DC; aggregates calculated for the Human Development Report Office by the World Bank; United Nations World Statistics Pocketbook and Statistical Yearbook
ALTERNATIVE NAMES:
Singapore, Republic of Singapore
Related links:
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