Singapore: Economy

Economic Trivia

Singapore has been ranked as having the most open, least corrupt, and most pro-business economy in the world.

Trade Source: United Nations Comtrade
Note: Top 3 trade partners are calculated by imports + exports.

Top 3 Trade Partners (2015): China, Malaysia, and United States
Top 3 Exported Goods (2015): Electrical Machinery, Industrial Machinery, and Oil & Mineral Fuels

Top Industries Source: CIA World Factbook

Electronics; Chemicals; Financial Services; Oil Drilling Equipment

Gross Domestic Product (GDP) Source: The World Bank

GDP, PPP (current international) $471,630,937,869 (2015)
GDP Growth Rate (annual %) 2.008% (2015)
GDP Per Capita, PPP (current international) $85,209 (2015)
Click on a row to display its 5-year graph on the right.

GDP Country Rank 39/193 (2015)

Economic Indicators Source: The World Bank

Inflation, consumer prices (annual %) -0.542% (2015)
External debt stocks, total (DOD, current US$) Data unavailable
Total tax rate (% of commercial profits) 18.4% (2015)
Real Interest Rate (5 year average %) 3.65% (2015)
Manufacturing, value added (% of GDP) 18.403% (2014)
Current Account Balance (BoP, current US$) $57,921,917,335 (2015)
Click on a row to display its 5-year graph on the right.

Labor and Employment Source: The World Bank

Labor Force, Total 3,110,343 (2014)
Employment in Agriculture (% of total employment) 1.1% (2009)
Employment in Industry (% of total employment) 28.3% (2014)
Employment in Services (% of total employment) 70.6% (2014)
Unemployment Rate 3% (2014)
Click on a row to display its 5-year graph on the right.
Imports of goods and services (current US$) $438,002,691,301 (2015)
Exports of goods and services (current US$) $516,670,133,838 (2015)
Total Merchandise Trade (% of GDP) 252.068% (2014)
FDI, net inflows (BoP, current US$) $65,262,633,426 (2015)
Commercial Service Exports (current US$) $140,140,089,184 (2014)
Click on a row to display its 5-year graph on the right.

How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Singapore’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.

Due to unavailable data the following indicators have been omitted:
  • Exports
  • FDI, net inflows
  • GDP Growth Rate
  • GDP Per Capita
  • Inflation
  • Unemployment

Glossary