| GEOGRAPHIC NAMES | GEOLOGY | USA STATS | CHINA STATS | COUNTRY CODES | AIRPORTS | RELIGION | JOBS |

Singapore Economy 2013

SOURCE: 2013 CIA WORLD FACTBOOK AND OTHER SOURCES











Singapore Economy 2013
SOURCE: 2013 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 5, 2013

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 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. Real GDP growth averaged 8.6% between 2004 and 2007. The economy contracted 1.0% in 2009 as a result of the global financial crisis, but rebounded 14.8% in 2010, on the strength of renewed exports, before slowing to 4.9% in 2011 and 2.1% in 2012, 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, which has sunk to a compound annual growth rate of just 1.8% in the last decade. 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.

GDP (purchasing power parity):
$326.7 billion (2012 est.)
country comparison to the world: 40

$320 billion (2011 est.)
$305.1 billion (2010 est.)
note: data are in 2012 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$267.9 billion (2012 est.)

GDP - real growth rate:
2.1% (2012 est.)
country comparison to the world: 140

4.9% (2011 est.)
14.8% (2010 est.)

GDP - per capita (PPP):
$60,900 (2012 est.)
country comparison to the world: 6

$60,700 (2011 est.)
$58,900 (2010 est.)
note: data are in 2012 US dollars

GDP - composition by sector:
agriculture: 0%
industry: 27.8%
services: 72.2% (2010 est.)

Labor force:
3.303 million
country comparison to the world: 99
note: excludes non-residents (2012 est.)

Labor force - by occupation:
agriculture: 0.1%
industry: 19.6%
services: 80.3%
note: excludes non-residents (2011)

Unemployment rate:
2% (2012 est.)
country comparison to the world: 14

2% (2011 est.)

Population below poverty line:
NA%

Household income or consumption by percentage share:
lowest 10%: 4.4%
highest 10%: 23.2% (2008)

Distribution of family income - Gini index:
47.3 (2011)
country comparison to the world: 29

48.1 (2008)

Investment (gross fixed):
24.7% of GDP (2012 est.)
country comparison to the world: 52

Budget:
revenues: $39.86 billion
expenditures: $39.58 billion
note: expenditures include both operational and development expenditures (2012 est.)

Taxes and other revenues:
14.9% of GDP (2012 est.)
country comparison to the world: 189

Budget surplus (+) or deficit (-):
0.1% of GDP (2012 est.)
country comparison to the world: 37

Public debt:
106.5% of GDP (2012 est.)
country comparison to the world: 14

118.2% of GDP (2011 est.)
note: for Singapore, 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

Inflation rate (consumer prices):
4.4% (2012 est.)
country comparison to the world: 122

5.2% (2011 est.)

Commercial bank prime lending rate:
5.4% (31 December 2012 est.)
country comparison to the world: 153

5.38% (31 December 2011 est.)

Stock of narrow money:
$120.7 billion (31 December 2012 est.)
country comparison to the world: 28

$99.27 billion (31 December 2011 est.)

Stock of broad money:
$400.8 billion (31 December 2012 est.)
country comparison to the world: 27

$340.9 billion (31 December 2011 est.)

Stock of domestic credit:
$278.8 billion (31 December 2012 est.)
country comparison to the world: 37

$235.2 billion (31 December 2011 est.)

Market value of publicly traded shares:
$569.4 billion (31 December 2011)
country comparison to the world: 20

$620.5 billion (31 December 2010)
$474.3 billion (31 December 2009)

Agriculture - products:
orchids, vegetables; poultry, eggs; fish, ornamental fish

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

Industrial production growth rate:
7.8% (2011 est.)
country comparison to the world: 30

Current account balance:
$44.87 billion (2012 est.)
country comparison to the world: 11

$50.16 billion (2011 est.)

Exports:
$430.6 billion (2012 est.)
country comparison to the world: 14

$414.8 billion (2011 est.)

Exports - commodities:
machinery and equipment (including electronics and telecommunications), pharmaceuticals and other chemicals, refined petroleum products

Exports - partners:
Malaysia 12.2%, Hong Kong 11%, Indonesia 10.4%, China 10.4%, US 5.5%, Japan 4.5% (2011)

Imports:
$390.4 billion (2012 est.)
country comparison to the world: 14

$366.3 billion (2011 est.)

Imports - commodities:
machinery and equipment, mineral fuels, chemicals, foodstuffs, consumer goods

Imports - partners:
US 10.8%, Malaysia 10.7%, China 10.4%, Japan 7.2%, South Korea 5.9%, Indonesia 5.3%, Saudi Arabia 4.8% (2011)

Reserves of foreign exchange and gold:
$253.3 billion (31 December 2012 est.)
country comparison to the world: 11

$237.9 billion (31 December 2011 est.)

Debt - external:
$24.64 billion (31 December 2012 est.)
country comparison to the world: 75

$23.62 billion (31 December 2011 est.)

Stock of direct foreign investment - at home:
$522.1 billion (31 December 2012 est.)
country comparison to the world: 15

$497 billion (31 December 2011 est.)

Stock of direct foreign investment - abroad:
$353.7 billion (31 December 2012 est.)
country comparison to the world: 17

$335.9 billion (31 December 2011 est.)

Exchange rates:
Singapore dollars (SGD) per US dollar -

1.253 (2012 est.)
1.258 (2011 est.)
1.3635 (2010 est.)
1.4545 (2009)
1.415 (2008)

Fiscal year:
1 April - 31 March


NOTE: 1) The information regarding Singapore on this page is re-published from the 2013 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Singapore Economy 2013 information contained here. All suggestions for corrections of any errors about Singapore Economy 2013 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






This page was last modified 11-Mar-13
Copyright © 1995- , ITA (all rights reserved).

    . Feedback