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    Singapore Index 2006

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    Singapore Economy - 2006
    http://www.theodora.com/wfbcurrent/singapore/singapore_economy.html
    SOURCE: 2006 CIA WORLD FACTBOOK

      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 four largest 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 (SARS) 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% - by far the economy's best performance since 2000 - but growth slowed to 5.7% in 2005.

      GDP (purchasing power parity):
      $132.3 billion (2005 est.)

      GDP (official exchange rate):
      $111.5 billion (2005 est.)

      GDP - real growth rate:
      5.7% (2005 est.)

      GDP - per capita (PPP):
      $29,900 (2005 est.)

      GDP - composition by sector:
      agriculture: 0% negligible
      industry: 33.6%
      services: 66.4% (2005 est.)

      Labor force:
      2.28 million (September 2005 est.)

      Labor force - by occupation:
      manufacturing 18%, construction 6%, transportation and communication 11%, financial, business, and other services 39%, other 26% (2003)

      Unemployment rate:
      3.3% (2005 est.)

      Population below poverty line:
      NA%

      Household income or consumption by percentage share:
      lowest 10%: NA%
      highest 10%: NA%

      Distribution of family income - Gini index:
      42.5 (1998)

      Inflation rate (consumer prices):
      1% (2005)

      Investment (gross fixed):
      23% of GDP (2005 est.)

      Budget:
      revenues: $18.67 billion
      expenditures: $18.21 billion; including capital expenditures of $5.1 billion (2005 est.)

      Public debt:
      102% of GDP (2005 est.)

      Agriculture - products:
      rubber, copra, fruit, 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:
      8.6% (2005 est.)

      Electricity - production:
      36.8 billion kWh (2004)

      Electricity - consumption:
      33.2 billion kWh (2004)

      Electricity - exports:
      0 kWh (2004)

      Electricity - imports:
      0 kWh (2004)

      Oil - production:
      8,290 bbl/day (2003 est.)

      Oil - consumption:
      800,000 bbl/day (2005 est.)

      Oil - exports:
      NA bbl/day

      Oil - imports:
      NA bbl/day

      Natural gas - production:
      0 cu m (2004 est.)

      Natural gas - consumption:
      5.32 billion cu m (2003 est.)

      Natural gas - exports:
      0 cu m (2001 est.)

      Natural gas - imports:
      2.5 billion cu m
      note: from Indonesia and Malaysia (2001 est.)

      Current account balance:
      $25.24 billion (2005 est.)

      Exports:
      $204.8 billion f.o.b. (2005 est.)

      Exports - commodities:
      machinery and equipment (including electronics), consumer goods, chemicals, mineral fuels

      Exports - 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)

      Imports:
      $188.3 billion (2005 est.)

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

      Imports - partners:
      Malaysia 15.3%, US 12.7%, Japan 11.7%, China 9.9%, Taiwan 5.7%, South Korea 4.3%, Thailand 4.1% (2004)

      Reserves of foreign exchange and gold:
      $123.5 billion (2005 est.)

      Debt - external:
      $24.67 billion (2005 est.)

      Economic aid - recipient:
      $NA

      Currency (code):
      Singapore dollar (SGD)

      Exchange rates:
      Singapore dollars per US dollar - 1.6644 (2005), 1.6902 (2004), 1.7422 (2003), 1.7906 (2002), 1.7917 (2001)

      Fiscal year:
      1 April - 31 March


      NOTE: The information regarding Singapore on this page is re-published from the 2006 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Singapore Economy 2006 information contained here. All suggestions for corrections of any errors about Singapore Economy 2006 should be addressed to the CIA.

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    http://www.theodora.com/wfbcurrent/singapore/singapore_economy.html

    Revised 06-Jun-06
    Copyright © 2006 Photius Coutsoukis (all rights reserved)


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