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    Singapore Economy - 2004
    https://immigration-usa.com/wfb2004/singapore/singapore_economy.html
    SOURCE: 2004 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 high per capita GDP. The economy depends heavily on exports, particularly in electronics and manufacturing. It was hard hit in 2001-2003 by the global recession and the slump in the technology sector. The government hopes to establish a new growth path that will be less vulnerable to the external business cycle but is unlikely to abandon efforts to establish Singapore as Southeast Asia's financial and high-tech hub. Fiscal stimulus, low interest rates, and global economic recovery should lead to much improved growth in 2004.

      GDP:
      purchasing power parity - $109.1 billion (2003 est.)

      GDP - real growth rate:
      0.8% (2003 est.)

      GDP - per capita:
      purchasing power parity - $23,700 (2003 est.)

      GDP - composition by sector:
      agriculture: negligible
      industry: 30%
      services: 70% (2001 est.)

      Population below poverty line:
      NA% (2002 est.)

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

      Inflation rate (consumer prices):
      0.7% (2003 est.)

      Labor force:
      2 million (June 2003)

      Labor force - by occupation:
      financial, business, and other services 49%, manufacturing 18%, construction 6%, transportation and communication 11%, other 16% (2003)

      Unemployment rate:
      5% (2003 est.)

      Budget:
      revenues: $17.4 billion
      expenditures: $17.6 billion, including capital expenditures of $5.6 billion (FY03/04 est.)

      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:
      7.5% (2003 est.)

      Electricity - production:
      30.48 billion kWh (2001)

      Electricity - production by source:
      fossil fuel: 100%
      hydro: 0%
      other: 0% (2001)
      nuclear: 0%

      Electricity - consumption:
      28.35 billion kWh (2001)

      Electricity - exports:
      0 kWh (2001)

      Electricity - imports:
      0 kWh (2001)

      Oil - production:
      0 bbl/day (2001 est.)

      Oil - consumption:
      700,000 bbl/day (2001 est.)

      Oil - exports:
      NA

      Oil - imports:
      NA

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

      Natural gas - consumption:
      2.5 billion cu m (2001 est.)

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

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

      Agriculture - products:
      rubber, copra, fruit, orchids, vegetables, poultry, eggs, fish, ornamental fish

      Exports:
      $142.4 billion f.o.b. (2003 est.)

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

      Exports - partners:
      Malaysia 17.4%, US 15.3%, Hong Kong 9.2%, Japan 7.1%, China 5.5%, Taiwan 4.9%, Thailand 4.6%, South Korea 4.2% (2002)

      Imports:
      $121.6 billion (2003 est.)

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

      Imports - partners:
      Malaysia 18.2%, US 14.3%, Japan 12.5%, China 7.6%, Thailand 4.6%, Taiwan 4.6% (2002)

      Debt - external:
      $9.1 billion (2003 est.)

      Economic aid - recipient:
      $NA

      Currency:
      Singapore dollar (SGD)

      Currency code:
      SGD

      Exchange rates:
      Singapore dollars per US dollar - 1.74 (2003), 1.79 (2002), 1.79 (2001), 1.72 (2000), 1.69 (1999)

      Fiscal year:
      1 April - 31 March


      NOTE: The information regarding Singapore on this page is re-published from the 2004 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Singapore Economy 2004 information contained here. All suggestions for corrections of any errors about Singapore Economy 2004 should be addressed to the CIA.

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    https://immigration-usa.com/wfb2004/singapore/singapore_economy.html

    Revised 21-May-04
    Copyright © 2004 Photius Coutsoukis (all rights reserved)


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