Singapore

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.

$292.2 billion (2010 est.)

$255 billion (2009 est.)

$258.3 billion (2008 est.)

$217.4 billion (2010 est.)

14.6% (2010 est.)

-1.3% (2009 est.)

1.8% (2008 est.)

$62,200 (2010 est.)

$54,700 (2009 est.)

$56,100 (2008 est.)

3.09 million (2010 est.)

2.3% (2010 est.)

3% (2009 est.)

NA%

48.1 (2008)

27.2% of GDP (2010 est.)

102.4% of GDP (2010 est.)

110% of GDP (2009 est.)

2.6% (2010 est.)

0.6% (2009 est.)

5.38% (31 December 2009 est.)

5.38% (31 December 2008 est.)

$80.5 billion (31 December 2010 est)

$64.26 billion (31 December 2009 est)

$295.8 billion (31 December 2010 est.)

$255.2 billion (31 December 2009 est.)

$199.8 billion (31 December 2010 est.)

$166.3 billion (31 December 2009 est.)

$474.8 billion (31 December 2009)

$268.6 billion (31 December 2008)

$353.5 billion (31 December 2007)

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% (2010 est.)

41.72 billion kWh (2008 est.)

37.94 billion kWh (2008 est.)

0 kWh (2008 est.)

0 kWh (2008 est.)

9,667 bbl/day (2009 est.)

878,000 bbl/day (2009 est.)

1.289 million bbl/day (2007 est.)

2.109 million bbl/day (2007 est.)

0 bbl (1 January 2010 est.)

0 cu m (2008 est.)

8.27 billion cu m (2008 est.)

0 cu m (2008 est.)

8.27 billion cu m

0 cu m (1 January 2010 est.)

$40.44 billion (2010 est.)

$32.63 billion (2009 est.)

$358.3 billion (2010 est.)

$273.4 billion (2009 est.)

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.)

$243.2 billion (2009 est.)

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.)

$187.8 billion (31 December 2009 est.)

$21.66 billion (31 December 2010 est.)

$20.3 billion (31 December 2009 est.)

$274.6 billion (31 December 2010 est.)

$260.5 billion (31 December 2009 est.)

$172.1 billion (31 December 2010 est.)

$167.4 billion (31 December 2009 est.)

Singapore dollars (SGD) per US dollar - 1.3702 (2010), 1.4545 (2009), 1.415 (2008), 1.507 (2007), 1.5889 (2006)