Economy - overview:
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. The economy contracted 0.6% in 2009 as a result of the global financial crisis, but rebounded 15.1% in 2010, on the strength of renewed exports, before slowing to in 2011-13, largely a result of soft demand for exports during the second European recession. Over the longer term, the government hopes to establish a new growth path that focuses on raising productivity. 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.

GDP (purchasing power parity):
$339 billion (2013 est.)
country comparison to the world: 41
$323 billion (2012 est.)
$313.3 billion (2011 est.)
note: data are in 2013 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$295.7 billion (2013 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
4.1% (2013 est.)
country comparison to the world: 74
1.9% (2012 est.)
6% (2011 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita (PPP):
$62,400 (2013 est.)
country comparison to the world: 7
$60,800 (2012 est.)
$60,400 (2011 est.)
note: data are in 2013 US dollars
[see also: GDP - per capita country ranks ]

Gross national saving:
44.6% of GDP (2013 est.)
country comparison to the world: 9
44.9% of GDP (2012 est.)
47.4% of GDP (2011 est.)
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 38.4%
government consumption: 10.3%
investment in fixed capital: 23.1%
investment in inventories: 3.1%
exports of goods and services: 195.8%
imports of goods and services: -170.7%
(2013 est.)

GDP - composition, by sector of origin:
agriculture: 0%
industry: 29.4%
services: 70.6% (2013 est.)

Agriculture - products:
orchids, vegetables; poultry, eggs; fish, ornamental fish

Industries:
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

Industrial production growth rate:
1.7% (2013 est.)
country comparison to the world: 132
[see also: Industrial production growth rate country ranks ]

Labor force:
3.444 million
country comparison to the world: 99
note: excludes non-residents (2013 est.)
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 1.3%
industry: 18.6%
services: 80.1%
note: excludes non-residents (2013)

Unemployment rate:
1.9% (2013 est.)
country comparison to the world: 12
2% (2012 est.)
[see also: Unemployment rate country ranks ]

Population below poverty line:
NA%
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 4.4%
highest 10%: 23.2% (2008)

Distribution of family income - Gini index:
46.3 (2013)
country comparison to the world: 32
47.8 (2012)
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $45.67 billion
expenditures: $41.83 billion
note: expenditures include both operational and development expenditures (2013 est.)

Taxes and other revenues:
15.4% of GDP (2013 est.)
country comparison to the world: 191
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
1.3% of GDP (2013 est.)
country comparison to the world: 24
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
105.5% of GDP (2013 est.)
country comparison to the world: 13
108.4% of GDP (2012 est.)
note: Singapore's public debt consists largely of Singapore Government Securities (SGS) issued to assist the Central Provident Fund (CPF), which administers Singapore's defined contribution pension fund; special issues of SGS are held by the CPF, and are non-tradable; the government has not borrowed to finance deficit expenditures since the 1980s; Singapore has no external public debt
[see also: Public debt country ranks ]

Fiscal year:
1 April - 31 March

Inflation rate (consumer prices):
2.4% (2013 est.)
country comparison to the world: 90
4.6% (2013 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Commercial bank prime lending rate:
5.38% (31 December 2013 est.)
country comparison to the world: 145
5.38% (31 December 2012 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$123.5 billion (31 December 2013 est.)
country comparison to the world: 30
$112.6 billion (31 December 2012 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$519.9 billion (31 December 2013 est.)
country comparison to the world: 22
$493 billion (31 December 2012 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$465.7 billion (31 December 2013 est.)
country comparison to the world: 27
$417.7 billion (31 December 2012 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$718.8 billion (31 December 2013 est.)
country comparison to the world: 18
$709.4 billion (31 December 2012)
$569.4 billion (31 December 2011 est.)
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
$54.4 billion (2013 est.)
country comparison to the world: 12
$49.38 billion (2012 est.)
[see also: Current account balance country ranks ]

Exports:
$410.3 billion (2013 est.)
country comparison to the world: 15
$408.4 billion (2012 est.)
[see also: Exports country ranks ]

Exports - commodities:
machinery and equipment (including electronics and telecommunications), pharmaceuticals and other chemicals, refined petroleum products, food and beverages

Exports - partners:
Malaysia 12.3%, Hong Kong 10.9%, China 10.8%, Indonesia 10.6%, US 5.5%, Japan 4.6%, Australia 4.2%, South Korea 4% (2012)

Imports:
$373 billion (2013 est.)
country comparison to the world: 15
$379.7 billion (2012 est.)
[see also: Imports country ranks ]

Imports - commodities:
machinery and equipment, mineral fuels, chemicals, foodstuffs, consumer goods

Imports - partners:
Malaysia 10.6%, China 10.3%, US 10.2%, South Korea 6.8%, Japan 6.2%, Indonesia 5.3%, Saudi Arabia 4.5%, UAE 4.1% (2012)

Reserves of foreign exchange and gold:
$273.1 billion (31 December 2013 est.)
country comparison to the world: 12
$259.3 billion (31 December 2012 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$1.174 trillion (31 December 2012 est.)
country comparison to the world: 16
$1.088 trillion (31 December 2011 est.)
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$585.8 billion (31 December 2012 est.)
country comparison to the world: 15
$535.6 billion (31 December 2011 est.)
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$367.8 billion (31 December 2012 est.)
country comparison to the world: 18
$355.2 billion (31 December 2011 est.)
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Singapore dollars (SGD) per US dollar -
1.25 (2013 est.)
1.2497 (2012 est.)
1.3635 (2010 est.)
1.4545 (2009)
1.415 (2008)