unbekannter Gast

Singapore: Economy#

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 higher than that of most developed countries. The economy depends heavily on exports, particularly in consumer electronics, information technology products, pharmaceuticals, and on a growing financial services sector. The economy contracted 0.6% in 2009 as a result of the global financial crisis, but rebounded 15.1% in 2010, on the strength of renewed exports, before slowing to in 2011-13, largely a result of soft demand for exports during the second European recession. Over the longer term, the government hopes to establish a new growth path that focuses on raising productivity. Singapore 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.

Economic Facts#

GDP (purchasing power parity)$339 billion (2013 est.)
$323 billion (2012 est.)
$313.3 billion (2011 est.)
note: data are in 2013 US dollars
GDP - real growth rate4.1% (2013 est.)
1.9% (2012 est.)
6% (2011 est.)
GDP - per capita (PPP)$62,400 (2013 est.)
$60,800 (2012 est.)
$60,400 (2011 est.)
note: data are in 2013 US dollars
GDP - composition, by sector of originagriculture: 0%
industry: 29.4%
services: 70.6% (2013 est.)
Population below poverty lineNA%
Household income or consumption by percentage sharelowest 10%: 4.4%
highest 10%: 23.2% (2008)
Labor force - by occupationagriculture: 1.3%
industry: 18.6%
services: 80.1%
note: excludes non-residents (2013)
Exports - commoditiesmachinery and equipment (including electronics and telecommunications), pharmaceuticals and other chemicals, refined petroleum products, food and beverages
Exports - partnersMalaysia 12.3%, Hong Kong 10.9%, China 10.8%, Indonesia 10.6%, US 5.5%, Japan 4.6%, Australia 4.2%, South Korea 4% (2012)
Agriculture - productsorchids, vegetables; poultry, eggs; fish, ornamental fish
Budgetrevenues: $45.67 billion
expenditures: $41.83 billion
note: expenditures include both operational and development expenditures (2013 est.)
Imports - commoditiesmachinery and equipment, mineral fuels, chemicals, foodstuffs, consumer goods
Imports - partnersMalaysia 10.6%, China 10.3%, US 10.2%, South Korea 6.8%, Japan 6.2%, Indonesia 5.3%, Saudi Arabia 4.5%, UAE 4.1% (2012)
Exchange ratesSingapore dollars (SGD) per US dollar -
1.25 (2013 est.)
1.2497 (2012 est.)
1.3635 (2010 est.)
1.4545 (2009)
1.415 (2008)
Exports$410.3 billion (2013 est.)
$408.4 billion (2012 est.)
Debt - external$1.174 trillion (31 December 2012 est.)
$1.088 trillion (31 December 2011 est.)
Fiscal year1 April - 31 March
Imports$373 billion (2013 est.)
$379.7 billion (2012 est.)
Industrial production growth rate1.7% (2013 est.)
Industrieselectronics, 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
Inflation rate (consumer prices)2.4% (2013 est.)
4.6% (2013 est.)
Labor force3.444 million
note: excludes non-residents (2013 est.)
Unemployment rate1.9% (2013 est.)
2% (2012 est.)
Distribution of family income - Gini index46.3 (2013)
47.8 (2012)
Public debt105.5% of GDP (2013 est.)
108.4% of GDP (2012 est.)
note: Singapore's public debt consists largely of Singapore Government Securities (SGS) issued to assist the Central Provident Fund (CPF), which administers Singapore's defined contribution pension fund; special issues of SGS are held by the CPF, and are non-tradable; the government has not borrowed to finance deficit expenditures since the 1980s; Singapore has no external public debt
Current account balance$54.4 billion (2013 est.)
$49.38 billion (2012 est.)
Reserves of foreign exchange and gold$273.1 billion (31 December 2013 est.)
$259.3 billion (31 December 2012 est.)
GDP (official exchange rate)$295.7 billion (2013 est.)
Stock of direct foreign investment - at home$585.8 billion (31 December 2012 est.)
$535.6 billion (31 December 2011 est.)
Stock of direct foreign investment - abroad$367.8 billion (31 December 2012 est.)
$355.2 billion (31 December 2011 est.)
Market value of publicly traded shares$718.8 billion (31 December 2013 est.)
$709.4 billion (31 December 2012)
$569.4 billion (31 December 2011 est.)
Commercial bank prime lending rate5.38% (31 December 2013 est.)
5.38% (31 December 2012 est.)
Stock of domestic credit$465.7 billion (31 December 2013 est.)
$417.7 billion (31 December 2012 est.)
Stock of narrow money$123.5 billion (31 December 2013 est.)
$112.6 billion (31 December 2012 est.)
Stock of broad money$519.9 billion (31 December 2013 est.)
$493 billion (31 December 2012 est.)
Taxes and other revenues15.4% of GDP (2013 est.)
Budget surplus (+) or deficit (-)1.3% of GDP (2013 est.)
GDP - composition, by end usehousehold consumption: 38.4%
government consumption: 10.3%
investment in fixed capital: 23.1%
investment in inventories: 3.1%
exports of goods and services: 195.8%
imports of goods and services: -170.7%
(2013 est.)
Gross national saving44.6% of GDP (2013 est.)
44.9% of GDP (2012 est.)
47.4% of GDP (2011 est.)