| Introduction - Singapore: |
| Location - Singapore: |
| People - Singapore: |
| Government - Singapore: |
| Economy - Singapore: |
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 2004-06 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 Asias financial and high-tech hub. |
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Gdp purchasing power parity | $141.2 billion (2006 est.) |
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Gdp official exchange rate | $122.1 billion (2006 est.) |
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Gdp real growth rate | 7.9% (2006 est.) |
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Gdp per capita ppp | $31,400 (2006 est.) |
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Gdp composition by sector | agriculture: 0%
industry: 33.8%
services: 66.2% (2006 est.) |
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Labor force | 2.4 million (2006 est.) |
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Labor force by occupation | manufacturing 18%, construction 6%, transportation and communication 11%, financial, business, and other services 39%, other 26% (2003) |
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Unemployment rate | 3.1% (2006 est.) |
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Population below poverty line | NA% |
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Household income or consumption by percentage share | lowest 10%: NA%
highest 10%: NA% |
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Distribution of family income gini index | 42.5 (1998) |
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Inflation rate consumer prices | 1% (2006 est.) |
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Investment gross fixed | 21.8% of GDP (2006 est.) |
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Budget | revenues: $19.71 billion
expenditures: $19.85 billion; including capital expenditures of $5.1 billion (2006 est.) |
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Public debt | 100.6% of GDP (2006 est.) |
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Agriculture products | rubber, copra, fruit, orchids, vegetables; poultry, eggs; fish, ornamental fish |
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Industries | 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 |
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Industrial production growth rate | 12.6% (2006 est.) |
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Electricity production | 32.64 billion kWh (2004) |
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Electricity consumption | 30.35 billion kWh (2004) |
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Electricity exports | 0 kWh (2004) |
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Electricity imports | 0 kWh (2004) |
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Oil production | 9,701 bbl/day (2004 est.) |
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Oil consumption | 800,000 bbl/day (2005 est.) |
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Oil exports | NA bbl/day |
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Oil imports | NA bbl/day |
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Oil proved reserves | 0 bbl |
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Natural gas production | 0 cu m (2004 est.) |
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Natural gas consumption | 6.61 billion cu m (2004 est.) |
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Natural gas exports | 0 cu m (2004 est.) |
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Natural gas imports | 6.61 billion cu m
note: from Indonesia and Malaysia (2004 est.) |
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Current account balance | $35.58 billion (2006 est.) |
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Exports | $283.6 billion f.o.b. (2006 est.) |
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Exports commodities | machinery and equipment (including electronics), consumer goods, chemicals, mineral fuels |
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Exports partners | Malaysia 13.1%, US 10.2%, Hong Kong 10.1%, China 9.7%, Indonesia 9.2%, Japan 5.5%, Thailand 4.2% (2006) |
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Imports | $246.1 billion (2006 est.) |
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Imports commodities | machinery and equipment, mineral fuels, chemicals, foodstuffs |
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Imports partners | Malaysia 13%, US 12.7%, China 11.4%, Japan 8.3%, Taiwan 6.4%, Indonesia 6.2%, South Korea 4.4% (2006) |
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Reserves of foreign exchange and gold | $134.6 billion (2006 est.) |
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Debt external | $24.3 billion (2006 est.) |
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Economic aid recipient | $NA |
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Currency code | Singapore dollar (SGD) |
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Exchange rates | Singapore dollars per US dollar - 1.5889 (2006), 1.6644 (2005), 1.6902 (2004), 1.7422 (2003), 1.7906 (2002) |
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| Communications - Singapore: |
| Transportation - Singapore: |
| Military - Singapore: |
This page was last updated on 16 September, 2007
