Singapore - Economic Indicators

Southeastern Asia, islands between Malaysia and Indonesia

1 22 N, 103 48 E

Southeast Asia

slightly more than 3.5 times the size of Washington, DC

0 km

193 km

tropical; hot, humid, rainy; two distinct monsoon seasons - northeastern monsoon (December to March) and southwestern monsoon (June to September); inter-monsoon - frequent afternoon and early evening thunderstorms

lowlying, gently undulating central plateau

highest point: Bukit Timah 166 m

fish, deepwater ports

arable land 0.9%; permanent crops 0.1%; permanent pasture 0%

0 sq km (2012)

most of the urbanization is along the southern coast, with relatively dense population clusters found in the central areas

flash floods

industrial pollution; limited natural freshwater resources; limited land availability presents waste disposal problems; seasonal smoke/haze resulting from forest fires in Indonesia

focal point for Southeast Asian sea routes; consists of about 60 islands, by far the largest of which is Pulau Ujong; land reclamation has removed many former islands and created a number of new ones

5,888,926 (July 2017 est.)

Chinese 74.3%, Malay 13.4%, Indian 9%, other 3.2%

English (official) 36.9%, Mandarin (official) 34.9%, other Chinese dialects (includes Hokkien, Cantonese, Teochew) 12.2%, Malay (official) 10.7%, Tamil (official) 3.3%, other 2%

Buddhist 33.2%, Christian 18.8%, Muslim 14%, Taoist 10%, Hindu 5%, other 0.6%, none 18.5% (2015 est.)

1.82% (2017 est.)

8.6 births/1,000 population (2017 est.)

3.5 deaths/1,000 population (2017 est.)

13.1 migrant(s)/1,000 population (2017 est.)

most of the urbanization is along the southern coast, with relatively dense population clusters found in the central areas

SINGAPORE (capital) 5.619 million (2015)

30.5 years

median age (2015 est.)

10 deaths/100,000 live births (2015 est.)

0.83 children born/woman (2017 est.)

4.9% of GDP (2014)

2.28 physicians/1,000 population (2016)

2.4 beds/1,000 population (2015)

urban: 100% of population

total: 100% of population

urban: 0% of population

total: 0% of population (2015 est.)

urban: 100% of population

total: 100% of population

urban: 0% of population

total: 0% of population (2015 est.)

NA

NA

NA

6.1% (2016)

2.9% of GDP (2013)

parliamentary republic

none

9 August 1965 (from Malaysian Federation)

National Day, 9 August (1965)

English common law

has not submitted an ICJ jurisdiction declaration; non-party state to the ICCt

21 years of age; universal and compulsory

National Solidarity Party or NSP

People's Action Party or PAP [LEE Hsien Loong]

Singapore Democratic Party or SDP [Dr. CHEE Soon Juan]

Workers' Party or WP [Pritam SINGH]

none

ADB, AOSIS, APEC, Arctic Council (observer), ARF, ASEAN, BIS, C, CP, EAS, FAO, FATF, G-77, IAEA, IBRD, ICAO, ICC (national committees), ICCt, ICRM, IDA, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IPU, ISO, ITSO, ITU, ITUC (NGOs), MIGA, NAM, OPCW, Pacific Alliance (observer), PCA, UN, UNCTAD, UNESCO, UNHCR, UPU, WCO, WHO, WIPO, WMO, WTO

two equal horizontal bands of red (top) and white; near the hoist side of the red band, there is a vertical, white crescent (closed portion is toward the hoist side) partially enclosing five white five-pointed stars arranged in a circle; red denotes brotherhood and equality; white signifies purity and virtue; the waxing crescent moon symbolizes a young nation on the ascendancy; the five stars represent the nation's ideals of democracy, peace, progress, justice, and equality

lion, merlion (mythical half lion-half fish creature), orchid; national colors: red, white

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. Unemployment is very low. The economy depends heavily on exports, particularly of electronics, petroleum products, chemicals, medical and optical devices, pharmaceuticals, and on Singapore’s vibrant transportation, business, and financial services sectors.

The economy contracted 0.6% in 2009 as a result of the global financial crisis, but has continued to grow since 2010. Growth from 2012-2017 was slower than during the previous decade, a result of slowing structural growth - as Singapore reached high-income levels - and soft global demand for exports. Growth recovered to 3.6% in 2017 with a strengthening global economy.

The government is attempting to restructure Singapore’s economy to reduce its dependence on foreign labor, raise productivity growth, and increase wages amid slowing labor force growth and an aging population. Singapore has attracted major investments in advanced manufacturing, pharmaceuticals, and medical technology production and will continue efforts to strengthen its position as Southeast Asia's leading financial and technology hub. Singapore is a signatory of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and a party to the Regional Comprehensive Economic Partnership (RCEP) negotiations with nine other ASEAN members plus Australia, China, India, Japan, South Korea, and New Zealand. In 2015, Singapore formed, with the other ASEAN members, the ASEAN Economic Community.

$513.7 billion (2017 est.)

$501.1 billion (2016 est.)

$491.3 billion (2015 est.)

$305.8 billion (2017 est.)

2.5% (2017 est.)

2% (2016 est.)

1.9% (2015 est.)

$90,500 (2017 est.)

$89,400 (2016 est.)

$88,800 (2015 est.)

45% of GDP (2017 est.)

44.4% of GDP (2016 est.)

44.9% of GDP (2015 est.)

vegetables; poultry, eggs; fish, ornamental fish, orchids

electronics, chemicals, financial services, oil drilling equipment, petroleum refining, biomedical products, scientific instruments, telecommunication equipment, processed food and beverages, ship repair, offshore platform construction, entrepot trade

3% (2017 est.)

3.668 million

2.2% (2017 est.)

2.1% (2016 est.)

NA%

45.8 (2016 est.)

46.3 (2015 est.)

17.5% of GDP (2017 est.)

-1% of GDP (2017 est.)

114.6% of GDP (2017 est.)

112.9% of GDP (2016 est.)

1 April - 31 March

0.9% (2017 est.)

-0.5% (2016 est.)

1.17% (2016 est.)

1.21% (2015 est.)

5.4% (31 December 2017 est.)

5.35% (31 December 2016 est.)

$134.3 billion (31 December 2017 est.)

$119.4 billion (31 December 2016 est.)

$437.6 billion (31 December 2017 est.)

$388.6 billion (31 December 2016 est.)

$455.4 billion (31 December 2017 est.)

$383.3 billion (31 December 2016 est.)

$654.8 billion (31 December 2016 est.)

$640 billion (31 December 2015 est.)

$752.8 billion (31 December 2014 est.)

$59.79 billion (2017 est.)

$56.5 billion (2016 est.)

$396.4 billion (2017 est.)

$361.6 billion (2016 est.)

machinery and equipment (including electronics and telecommunications), pharmaceuticals and other chemicals, refined petroleum products, foodstuffs and beverages

China 12.8%, Hong Kong 12.6%, Malaysia 10.5%, Indonesia 7.8%, US 6.8%, Japan 4.5%, South Korea 4.4% (2016)

$309.7 billion (2017 est.)

$278.8 billion (2016 est.)

machinery and equipment, mineral fuels, chemicals, foodstuffs, consumer goods

China 14.3%, Malaysia 11.4%, US 10.8%, Japan 7%, South Korea 6.1%, Indonesia 4.8% (2016)

$266.3 billion (31 December 2017 est.)

$246.6 billion (31 December 2016 est.)

$482.8 billion (31 December 2017 est.)

$504.2 billion (31 December 2016 est.)

$1.158 trillion (31 December 2017 est.)

$1.096 trillion (31 December 2016 est.)

$725.9 billion (31 December 2017 est.)

$682.4 billion (31 December 2016 est.)

Singapore dollars (SGD) per US dollar -

1.39 (2017 est.)

1.38 (2016 est.)

1.38 (2015 est.)

1.37 (2014 est.)

1.27 (2013 est.)

47.48 billion kWh (2015 est.)

46.6 billion kWh (2015 est.)

0 kWh (2016 est.)

0 kWh (2016 est.)

13.28 million kW (2015 est.)

98.6% of total installed capacity (2015 est.)

0% of total installed capacity (2015 est.)

0% of total installed capacity (2015 est.)

1.9% of total installed capacity (2015 est.)

0 bbl/day (2016 est.)

11,460 bbl/day (2014 est.)

831,300 bbl/day (2014 est.)

0 bbl (1 January 2017 est.)

955,500 bbl/day (2014 est.)

1.34 million bbl/day (2015 est.)

1.718 million bbl/day (2014 est.)

2.153 million bbl/day (2014 est.)

0 cu m (2014 est.)

19.73 billion cu m (2015 est.)

250 million cu m (2015 est.)

12.37 billion cu m (2015 est.)

0 cu m (1 January 2015 est.)

205 million Mt (2015 est.)

state controls broadcast media; 7 domestic TV stations operated by MediaCorp which is wholly owned by a state investment company; broadcasts from Malaysian and Indonesian stations available; satellite dishes banned; multi-channel cable TV services available; a total of 18 domestic radio stations broadcasting, with MediaCorp operating 11, Singapore Press Holdings, also government-linked, another 5, and another 2 controlled by the Singapore Armed Forces Reservists Association; Malaysian and Indonesian radio stations are available as is BBC; a number of Internet service radio stations are also available

.sg

9V (2016)

9 (2013)

domestic gas 3,220 km (2014); cross-border pipelines 1,122 km (2017); refined products 8 km (2013)

3.35% of GDP (2016)

3.16% of GDP (2015)

3.11% of GDP (2014)

3.09% of GDP (2013)

3.17% of GDP (2012)

Singapore Armed Forces: Army, Navy, Air Force (includes Air Defense) (2013)

18-21 years of age for male compulsory military service; 16 1/2 years of age for volunteers; 2-year conscript service obligation, with a reserve obligation to age 40 (enlisted) or age 50 (officers) (2012)

the International Maritime Bureau reports the territorial and offshore waters in the South China Sea as high risk for piracy and armed robbery against ships; numerous commercial vessels have been attacked and hijacked both at anchor and while underway; hijacked vessels are often disguised and cargo diverted to ports in East Asia; crews have been murdered or cast adrift; in the Singapore Straits there were nine attacks against commercial vessels in 2015, declining to only two attacks in 2016

disputes persist with Malaysia over each country’s extensive land reclamation works, bridge construction, and maritime boundaries in the Johor and Singapore Straits; in 2008, ICJ awarded sovereignty of Pedra Branca (Pulau Batu Puteh/Horsburgh Island) to Singapore, and Middle Rocks to Malaysia, but did not rule on maritime regimes, boundaries, or disposition of South Ledge; in 2017, Malaysia filed a challenge to the 2008 ruling and applied for ownership of South Ledge; piracy remains a problem in the Malacca Strait

drug abuse limited because of aggressive law enforcement efforts, including carrying out death sentences; as a transportation and financial services hub, Singapore is vulnerable, despite strict laws and enforcement, as a venue for money laundering