ECONOMIC INFORMATION

 

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Population: 4.3m

 

Population growth: 2.04%

Population density (people per sq. km): 6967

UN Human Development Index ranking: 25/177

Gross national income (current US$): $90.2bn (2003)

Gross national income per capita: $21,230

PPP Gross national income: $102.8bn

PPP Gross national income per capita: $24,180

GDP growth: -1.0% (2003)

GDP breakdown Agriculture: 0.1%, Industry: 34.93%, Services: 64.96%

Inflation (12-month average): -0.41 (2003)

Gross capital formation as % of GDP: 13.35%

Final consumption expenditure as % of GDP (growth): 53.3% (-0.6%)

Exports of goods & services as % of GDP: 137.4%

Top 3 export markets: Malaysia, US, Hong Kong

Local industries: Electronics, chemicals, financial services, oil drilling equipment, petroleum refining, rubber processing & rubber products, processed food & beverages, ship repair, entrepot trade, biotechnology

WEF Growth Competitiveness ranking * : 7/104

WEF Business Competitiveness ranking **: 10/103

WEF Quality of the Business Environment ranking: 8/103

Transparency International Corruption Perceptions ranking: 5/145

Languages : Chinese, Malay, Tamil and English (official)

 

 

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FDI INFORMATION

 

Region: South-east Asia

No. of projects (Jan-Sep 2004): 291

Market-share of projects in the region: 21.0%

Value of projects relative to GDP : 32.0%

Top 3 destination sectors : IT & software, financial services, semiconductors

Top 3 business functions: Manufacturing, business services, sales, Marketing & Support

Top 3 source countries: US, Japan, UK

Top 3 investors: Matsushita, STMicroelectronics, Seagate Technology

 

 

IPA

 

Name: Singapore Economic Development Board

Web address: www.sedb.com

* World Economic Forum Growth Competitiveness Ranking assesses an economy’s ability to grow consistently

** World Economic Forum Business Competitiveness Ranking assesses the microeconomic factors that contribute to economic growth

*** The difficulty of hiring workers and the difficulty and expense of firing workers is reflected as an index where the higher the value the more rigid the regulations