The Economy of Singapore

[Chief source: CIA World Factbook]


Singapore has an open economy with strong service and manufacturing sectors and excellent international trading links derived from its entrepot history. A slump in global demand for electronics slowed Singapore's export growth in 1996, and as a result, real GDP grew 6.5%, down from 8.9% in 1995. The government predicts growth will be in the 5%-7% range in 1997. Rising labor costs continue to be a threat to Singapore's competitiveness, and the government's strategy to address this problem includes increasing productivity, improving infrastructure, and encouraging higher value-added industries. In applied technology, per capita output, investment, and labor discipline, Singapore has key attributes of a developed country.


Inflation rate - consumer price index

Labor Force



petroleum refining, electronics, oil drilling equipment, rubber processing and rubber products, processed food and beverages, ship repair, entrepot trade, financial services, biotechnology

Agriculture - products: rubber, copra, fruit, vegetables; poultry




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