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 6.9% between 2004 and 2008. The economy contracted 1.3% in 2009 as a result of the global financial crisis, but rebounded nearly 15% in 2010, on the strength of renewed exports. Over the longer term, the government hopes to establish a new growth path that focuses on raising productivity growth, which has sunk to 1% per year 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): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Distribution of family income - Gini index: Investment (gross fixed): Budget: Public debt: Inflation rate (consumer prices): Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Agriculture - products: Industries: Industrial production growth rate: Electricity - production: Electricity - consumption: Electricity - exports: Electricity - imports: Oil - production: Oil - consumption: Oil - exports: Oil - imports: Oil - proved reserves: Natural gas - production: Natural gas - consumption: Natural gas - exports: Natural gas - imports: Natural gas - proved reserves: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Stock of direct foreign investment - at home: Stock of direct foreign investment - abroad: Exchange rates:
NOTE: The information regarding Singapore on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Singapore Economy 2011 information contained here. All suggestions for corrections of any errors about Singapore Economy 2011 should be addressed to the CIA.
$292.2 billion (2010 est.)
country comparison to the world: 41
note:
data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]
$217.4 billion (2009 est.)
[see also: GDP (official exchange rate) country ranks ]
14.6% (2010 est.)
country comparison to the world: 2
[see also: GDP - real growth rate country ranks ]
$62,200 (2010 est.)
country comparison to the world: 5
note:
data are in 2010 US dollars
[see also: GDP - per capita country ranks ]
agriculture: 0%
[see also: GDP - composition by sector - agriculture country ranks ]
industry:
27.2%
[see also: GDP - composition by sector - industry country ranks ]
services:
72.8% (2009 est.)
[see also: GDP - composition by sector - services country ranks ]
3.09 million (2009 est.)
country comparison to the world: 101
[see also: Labor force country ranks ]
agriculture: 0%
[see also: GDP - composition by sector - agriculture country ranks ]
industry:
23.8%
[see also: Labor force - by occupation - industry country ranks ]
services:
76.2% (2008)
[see also: Labor force - by occupation - services country ranks ]
2.3% (2010 est.)
country comparison to the world: 19
[see also: Unemployment rate country ranks ]
NA%
[see also: Population below poverty line country ranks ]
lowest 10%: 4.4%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%:
23.2% (2008)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
48.1 (2008)
country comparison to the world: 29
[see also: Distribution of family income - Gini index country ranks ]
27.2% of GDP (2009 est.)
country comparison to the world: 31
[see also: Investment (gross fixed) country ranks ]
revenues: $31.24 billion
[see also: Budget - revenues country ranks ]
expenditures:
$32.78 billion
[see also: Budget - expenditures country ranks ]
note:
expenditures exclude public debt, financial transfers, and development estimates (2009 est.)
102.4% of GDP (2010 est.)
country comparison to the world: 10
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-tradeable; the government has not borrowed to finance deficit expenditures for more than 20 years
[see also: Public debt country ranks ]
2.6% (2010 est.)
country comparison to the world: 82
[see also: Inflation rate (consumer prices) country ranks ]
5.38% (31 December 2009 est.)
country comparison to the world: 147
[see also: Commercial bank prime lending rate country ranks ]
$80.5 billion (31 December 2010 est)
[see also: Stock of narrow money country ranks ]
$295.8 billion (31 December 2010 est.)
[see also: Stock of broad money country ranks ]
$199.8 billion (31 December 2010 est.)
country comparison to the world: 39
[see also: Stock of domestic credit country ranks ]
$474.8 billion (31 December 2009)
country comparison to the world: 22
[see also: Market value of publicly traded shares country ranks ]
orchids, vegetables; poultry, eggs; fish, ornamental fish
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
10.2% (2009 est.)
country comparison to the world: 14
[see also: Industrial production growth rate country ranks ]
41.72 billion kWh (2008 est.)
country comparison to the world: 55
[see also: Electricity - production country ranks ]
37.94 billion kWh (2008 est.)
country comparison to the world: 54
[see also: Electricity - consumption country ranks ]
0 kWh (2008 est.)
[see also: Electricity - exports country ranks ]
0 kWh (2008 est.)
[see also: Electricity - imports country ranks ]
9,667 bbl/day (2009 est.)
country comparison to the world: 85
[see also: Oil - production country ranks ]
878,000 bbl/day (2009 est.)
country comparison to the world: 22
[see also: Oil - consumption country ranks ]
1.289 million bbl/day (2007 est.)
country comparison to the world: 19
[see also: Oil - exports country ranks ]
2.109 million bbl/day (2007 est.)
country comparison to the world: 10
[see also: Oil - imports country ranks ]
0 bbl (1 January 2010 est.)
country comparison to the world: 122
[see also: Oil - proved reserves country ranks ]
0 cu m (2008 est.)
country comparison to the world: 130
[see also: Natural gas - production country ranks ]
8.27 billion cu m (2008 est.)
country comparison to the world: 49
[see also: Natural gas - consumption country ranks ]
0 cu m (2008 est.)
country comparison to the world: 125
[see also: Natural gas - exports country ranks ]
8.27 billion cu m
country comparison to the world: 26
note:
from Indonesia and Malaysia (2008 est.)
[see also: Natural gas - imports country ranks ]
0 cu m (1 January 2010 est.)
country comparison to the world: 134
[see also: Natural gas - proved reserves country ranks ]
$40.44 billion (2010 est.)
country comparison to the world: 9
[see also: Current account balance country ranks ]
$358.3 billion (2010 est.)
country comparison to the world: 14
[see also: Exports country ranks ]
machinery and equipment (including electronics), consumer goods, pharmaceuticals and other chemicals, mineral fuels
Hong Kong 11.6%, Malaysia 11.5%, US 11.2%, Indonesia 9.7%, China 9.7%, Japan 4.6%, Hong Kong 11.6% (2009)
$315.6 billion (2010 est.)
country comparison to the world: 15
[see also: Imports country ranks ]
machinery and equipment, mineral fuels, chemicals, foodstuffs, consumer goods
US 14.7%, Malaysia 11.6%, China 10.5%, Japan 7.6%, Indonesia 5.8%, South Korea 5.7%, Taiwan 5.22% (2009)
$212.5 billion (31 December 2010 est.)
country comparison to the world: 9
[see also: Reserves of foreign exchange and gold country ranks ]
$21.66 billion (31 December 2010 est.)
country comparison to the world: 71
[see also: Debt - external country ranks ]
$274.6 billion (31 December 2010 est.)
country comparison to the world: 19
[see also: Stock of direct foreign investment - at home country ranks ]
$172.1 billion (31 December 2010 est.)
country comparison to the world: 21
[see also: Stock of direct foreign investment - abroad country ranks ]
Singapore dollars (SGD) per US dollar - 1.3702 (2010), 1.4545 (2009), 1.415 (2008), 1.507 (2007), 1.5889 (2006)
This page was last modified 09-Feb-11