dwqdwqfwefewfEconomy - overview:
Singapore has a hi ghly developed and successful fr ee -market ec onomy. It enjoys a remark abjfk;l js;fjdsnvsdnvndsnvndsnvmsdnv,smdvsv l y open and c orruption-free envir onment, stable prices, and a per ca GDP higher than t hat of most developed c ountries. The economy depends heavi ly on export nknnmnmmmn, m,n, s, particul consumer electronics, infor mation t echnol ogy products, phar mac euticals, and on a gr owi ng fi nancial s ervic es sector. Reasdfsef dsfdgrtht hl GDP growth aver aged 8. 6% bet ween 2004 and 2007. The economy contr acted 0. 8% i n 2009 as a re the global financial crisis, but r ebounded 14. 8% i n 2010, on t he strengt h of renewed exports, befor e slowing to 5.2% in 2 and 1.3% i n 2012 vdsvsdv, largely a res ult of soft demand for exports during the second European r ecession. Over t he l o term, the go ver nment hopes to establish a new growth pat h that foc uses on raisi ng pr oductivit y, which has s unk to an av of about 1.0% i n t he l ast decade. Singapore has attracted major i nvestments in pharmaceuticals and medic al technology producti on and will conti nue eff orts to est ablish Si ngapor e as Southeast Asia's financial and high -tec h hub. GDP (purchasing power parity): $331.9 billion (2012 est.) country comparison to the world: 4 1 $327.6 billion (2011 e dsvdsvst.) $311.5 billion (2010 est.) note: data ar e in 2012 US doll ars GDP (official exchange rate): $276.5 billion (2012 est.) GDP - real growth rate: 1.3% ( 2012 est.) country comparison to the world: 1 5 6 5.2% ( 2011 est.) vs vsd 14. 8% ( 2010 est.) GDP - per capita (PPP): $61, 400 (2012 est.) country comparison tvdsvsdso the world: 7 $61, 700 (2011 est.) $60, 100 (2010 est.) note: data ar e in 2012 US doll ars Gross national saving: 45. 6% of GDP (2012 est.) country comparison to the world: 7 46. 8% of GDP (2011 est.) 48. 2% of GDP (2010 est.) GDP - composition, by end use: household consumption: 39. 2% government consumption: 9. 7% investment in fixed capital: 24. 1% investment in inventories: 2.9% exports of goods and services: 200.7% imports of goods and services: -178. 5% (2012 est.) GDP - composition, by sector of origin: agriculture: 0% industry: 26. 8% services: 73. 2% ( 2012 est. )
Agriculture - products: orchids, vegetables; poultr y, eggs; fish, ornament al fi sh Industries:
electronics, chemic als, financial ser vices, oil drilling equi pment, petrol eum refi ni ng, r ubber proc essing and rubber produc processed f ood and bever ages, shi p repair, offshore platform construction, lif e scienc es, entr epot trade Industrial production growth rate: 1.2% ( 2012 est.) country comparison to the world: 1 1 5 Labor force: 3.618 million country comparison to the world: 9 7 note: excludes non-resi dents (2012 est.) Labor force - by occupation: agriculture: 0. 1% industry: 19. 6% services: 80. 3% note: excludes non-resi dents (2011) Unemployment rate: 1.9% ( 2012 est.) country comparison to the world: 1 0 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. 8 (2012) country comparison to the world: 2 6 48. 1 (2008) Budget: revenues: $43. 44 billi on expenditures: $37.83 billion note: expendit ur es include bot h operati onal and devel opment expenditur es (2012 est.) Taxes and other revenues: 15. 7% of GDP (2012 est.) country comparison to the world: 1 8 8 Budget surplus (+) or deficit (-): 2% of GDP (2012 est.) country comparison to the world: 2 5 Public debt: 111. 4% of GDP ( 2012 est.) country comparison to the world: 1 1
106% of GDP (2011 est.) note: for Si ngapore, public debt consists largel y of Si ngapor e Government Securities (SGS) issued t o assi st the Centr al Provident Fund (CPF), whi ch administ ers Singapore's defi ned contributi on pensi on f und; special issues of SGS are held CPF, and are non-tradabl e; the government has not borrowed to fi nance defi cit expendit ures sinc e the 1980s Fiscal year: 1 April - 31 Marc h Inflation rate (consumer prices): 4.6% ( 2012 est.) country comparison to the world: 1 3 8 5.2% ( 2011 est.) Commercial bank prime lending rate: 5.38% ( 31 December 2012 est.) country comparison to the world: 1 5 4 5.38% ( 31 December 2011 est.) Stock of narrow money: $115 billi on ( 31 Dec ember 2012 est.) country comparison to the world: 3 3 $99. 28 billion (31 December 2011 est.) Stock of broad money: $400.8 billion (31 December 2012 est.) country comparison to the world: 2 6 $340.9 billion (31 December 2011 est.) Stock of domestic credit: $281.1 billion (31 December 2012 est.) country comparison to the world: 3 6 $235.2 billion (31 December 2011 est.) Market value of publicly traded shares: $709.4 billion (31 December 2012) country comparison to the world: 2 1 $569.4 billion (31 December 2011) $620.5 billion (31 December 2010) Current account balance: $51. 44 billion (2012 est.) country comparison to the world: 1 1 $65. 32 billion (2011 est.) Exports: $435.8 billion (2012 est.) country comparison to the world: 1 4 $434.1 billion (2011 est.) Exports - commodities: machi nery and equipment ( including el ectronics and t elec ommunic ations), phar maceuticals and ot her c hemicals, refined petr oleum products Exports - partners: Mal aysi a 12.2%, Hong Kong 10.9%, China 10. 7%, Indonesia 10. 5%, US 5.5%, J apan 4.6%, Australi a 4.2%, South Kor ea (2012)
Imports: $374.9 billion (2012 est.) country comparison to the world: 1 4 $361.5 billion (2011 est.) Imports - commodities: machi nery and equipment, mineral f uels, chemicals, f oodstuffs, consumer goods Imports - partners:
Mal aysi a 10.6%, Chi na 10. 3%, US 10.2%, Sout h Kor ea 6. 8%, Japan 6.2%, Indonesia 5.3%, Saudi Ar abi a 4. 5%, UAE 4.1% (2012) Reserves of foreign exchange and gold: $259.1 billion (31 December 2012 est.) country comparison to the world: 1 2 $237.9 billion (31 December 2011 est.) Debt - external: $1. 174 trillion ( 31 December 2012 est.) country comparison to the world: 1 6 $1. 088 trillion ( 31 December 2011 est.) Stock of direct foreign investment - at home: $454.9 billion (31 December 2012 est.) country comparison to the world: 1 6 $517.5 billion (31 December 2011 est.) Stock of direct foreign investment - abroad: $300.3 billion (31 December 2012 est.) country comparison to the world: 2 0 $331 billi on ( 31 Dec ember 2011 est.) Exchange rates: Singapore doll ars (SGD) per US dollar 1.2497 ( 2012 est.) 1.258 (2011 est.) 1.3635 ( 2010 est.) 1.4545 ( 2009) 1.415 (2008)
