Economy of Singapore
Population: 5.64 M (2018)
GDP per Capita: 64,582 USD (2018)
364,160 M.

GDP USD

(2018)

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642,290 M.

EXPORTS USD

(2018)

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545,560 M.

IMPORTS USD

(2018)

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114.10 %

PUBLIC DEBT

(2019)

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Data is provided by World Bank, FMI and Central Banks.

GDP and Economic Growth

Indicator Value
Economic Growth 3.14 % (2018)
GDP of 2010 USD USD 328.40 B. (2018)
GDP Current USD USD 364.16 B. (2018)
GDP per Capita Current USD USD 64,582 (2018)
GDP per capita, PPP USD 90,091 (2018)
GDP per Capita, 2010 USD USD 58,248 (2018)

Government spending and balances

Indicator Value
Government Spending % GDP 10.53 % (2018)
Government Spending USD 38.36 B. (2018)
Government Debt % GDP 114.10 % (2019)

International Trade and Investment

Indicator Value
Terms of Trade Base Year 2000 85.19 (2018)
Trade Openness 326.19 % (2018)
Exports of Goods and Services % GDP 176.38 % (2018)
Exports Goods & Services USD 642.29 B. (2018)
Exports Annual Growth 5.15 % (2018)
Imports as % GDP 149.82 % (2018)
Total Imports USD 545.56 B. (2018)
Foreign Direct Investment % GDP 22.53 % (2018)
Foreign Direct Investment USD 82.04 B. (2018)
Current Account Balance % GDP USD 17.87 % (2018)
Current Account Balance USD 65.07 B. (2018)
Trade Balance % GDP 26.56 % (2018)
Trade Balance USD 96.73 B. (2018)
Foreign Exchange Reserves incl Gold USD 292.72 B. (2018)
Remittances % GDP USD 292.72 B. (2018)
Remittances USD 292.72 B. (2018)
Balance of Payments USD 1,968 M. (2013)

Labor Market

Indicator Value
Labor Force 3.41 M. (2019)
Unemployment Rate 3.62 % (2019)
Unemployment Rate Females 4.31 % (2019)
Unemployment Rate Males 3.96 % (2019)
Youth Unemployment (ages 15-24) 8.43 % (2019)
Labor Force Participation Rate 68.09 % (2019)
Labor Force (Percent Female) 41.75 % (2019)
Female Labor Force Participation Rate 60.37 % (2019)
Male Labor Force Participation Rate 76.10 % (2019)
Dependent People 31.13 % (2018)

Agriculture Sector

Indicator Value
Forest Area 23.10 % (2016)
Forest Area km² 164 km² (2016)
Agricultural Land 0.93 % (2016)
Agricultural Land km² 7 km² (2016)
Employment 0.47 % (2019)
Value added % GDP 0.02 % (2018)
Agriculture Value added USD 0.09 B. (2018)
Crop Production Index 133.00 (2016)
Precipitation 2,497 mm (2014)
Arable Land 1 % (2016)
Cereal Yield 1 % (2016)
Food production index 115 (2016)
Rural Population
Fertilizer use of Arable Land 30,238 kg/hectare (2016)
Livestock Production Index 112 (2016)
Economy of Singapore

According to the World Bank and its latest published data, the economy of the Singapore presents a growth rate of 3.14 % (2018) to the previous year.

With a population that reaches 5.64 M (2018) and a gross domestic product of USD 364.16 B. (2018), it translates a Gross Domestic Product per Capita of USD 64,582 placing its inhabitants on the threshold of an High-income country (according to the World Bank's updated classification).

Singapore also has a workforce of 3.41 M. (2019) with an unemployment rate of 3.62 % (2019), where women represent 4.31 % (2019) and men 3.96 % (2019), the unemployment rate for young people between 15-24 years old stood at 8.43 % (2019). The total number of dependent people stands at 31.13 % (2018).

The central government spent 10.53 % (2018) of its gross domestic product that year, which in absolute terms is USD 38.36 B. (2018). Its consolidated public debt reached 114.10 of its GDP, exceeding the 35% risk limit used by the European Union.

Regarding its international trade, Singapore exported USD 642.29 B. (2018), which represents 176.38 % (2018) of its gross domestic product, in that same sense its imports reached USD 545.56 B. (2018) with a direct foreign investment of USD 82.04 B. (2018).

Singapore has a forest area of 164 km² (2016), which represents 23.10 % (2016) of its total area, an average rainfall of 2,497 mm (2014) per year and a population of living in rural areas. With a total area of 7 km² (2016) available for agriculture and 0.47 % (2019) of its employments, the agricultural sector contributes to the economy of the Singapore about USD 0.09 B. (2018) (0.02 % (2018) of its GDP).