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Singapore
| Economy Overview |
| Singapore, a highly developed and successful free market economy, enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP equal to that of the Big 4 West European countries. The economy depends heavily on exports, particularly in electronics and manufacturing. It was hard hit in 2001-03 by the global recession, by the slump in the technology sector, and by an outbreak of Severe Acute Respiratory Syndrome in 2003, which curbed tourism and consumer spending. The government hopes to establish a new growth path that will be less vulnerable to the external business cycle and will continue efforts to establish Singapore as Southeast Asia's financial and high-tech hub. Fiscal stimulus, low interest rates, a surge in exports, and internal flexibility led to vigorous growth in 2004, with real GDP rising by 8 percent, by far the economy's best performance since 2000. |
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| Economy Statistics |
| Exports: |
$174 billion f.o.b. (2004 est.) [?]
This entry provides the total US dollar amount of merchandise exports on an f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
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Export
Commodities: |
machinery and equipment (including electronics), consumer goods, chemicals, mineral fuels [?]
This entry provides a rank ordering of exported products starting with the most important; it sometimes includes the percent of total dollar value.
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Export
Partners: |
Malaysia 15.2%, US 13%, Hong Kong 9.8%, China 8.6%, Japan 6.4%, Taiwan 4.6%, Thailand 4.3%, South Korea 4.1% (2004) [?]
This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.
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| Imports: |
$155.2 billion (2004 est.) [?]
This entry provides the total US dollar amount of merchandise imports on a c.i.f. (cost, insurance, and freight) or f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
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Import
Commodities: |
machinery and equipment, mineral fuels, chemicals, foodstuffs [?]
This entry provides a rank ordering of imported products starting with the most important; it sometimes includes the percent of total dollar value.
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Import
Partners: |
Malaysia 15.3%, US 12.7%, Japan 11.7%, China 9.9%, Taiwan 5.7%, South Korea 4.3%, Thailand 4.1% (2004) [?]
This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.
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| Singapore Chamber of Commerce |
| Address: |
23/F., China Hong Kong Tower, 8-12 Hennessy Road, Wanchai, Hong Kong |
| Phone: |
(852) 2838 3733 |
| Fax: |
(852) 2838 3390 |
| Website: |
http://www.scchk.com.hk/ |
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