Economy overview: Singapore has a highly developed and successful market economy with an open and corruption-free business environment, stable prices, and the fifth-highest GDP per capita in the world. Exports, especially electronics and chemicals, and the service industry are the main engines of the economy. Mainly driven by expanding exports, mainly of electronics, economic growth was 10.1% in 2000. Analysts, however, predict it will decline to 4-6% in 2001 due to lower global demand, especially in the US. The government promotes high levels of savings and investment through a mandatory savings program and high spending on education and technology. It also controls companies – predominantly in industry – that essentially operate as commercial companies. As Singapore sees the future in globalization. See topb2bwebsites.com to know more about Singapore in 2004. GDP: at purchasing power parity – $109.8 billion (2000 est.). Real GDP growth rate: 10.1% (2000 est.). GDP per capita: at purchasing power parity – $26,500 (2000 est.). The composition of GDP by sectors of the economy: agriculture: insignificant; industry: 30%; service sector: 70%. Proportion of the population below the poverty line: no data available. Percentage distribution of household income or consumption: for the poorest 10% of households: n/a; 10% of the wealthiest families: no data. Inflation rate at consumer prices: 1.4% (2000). Labor force: 2.1 million people (2000). Employment structure: finance, business and other services 35%, industry 21%, transport and communications 9%, construction 13%, other 22%. Unemployment rate: 3% (2000 est.). Budget: revenues: $18.1 billion; expenditures: $17.1 billion, including capital expenditures of $9.5 billion (fiscal 1999-2000) Economic sectors: electronics, chemicals, financial services, oil production equipment, oil refining, rubber processing and rubber products, food industry, ship repair, transit trade, biotechnologies. Growth in industrial production: 14% (2000 est.). Electricity generation: 27.381 billion kWh (1999) Sources of electricity generation: fossil fuel: 100%; hydropower: 0%; nuclear fuel: 0%; others: 0% (1999). Electricity consumption: 25.464 billion kWh (1999) Electricity export: 0 kWh (1999). Electricity import: 0 kWh (1999). Agricultural products: rubber, copra, vegetables; bird, egg, fish, vegetables, orchids, ornamental fish. Export: $137 billion (free on board, 2000) Export items: machinery and equipment (including electronics), chemicals, mineral fuels. Export partners: USA 19%, Malaysia 17%, Hong Kong 8%, Japan 7%, Taiwan 5%, Thailand 4%, UK 4%, Netherlands 3.8%, China 3%, South Korea 3%, Germany 3% (1999). Import: $127 billion (free on board, 2000). Imports: machinery and equipment, mineral fuels, chemicals, food, Import partners: USA 17%, Japan 17%, Malaysia 16%, Thailand 5%, China 5%, Taiwan 4%, Germany 3%, Saudi Arabia 3 % (1999), External debt: $9.7 billion (2000). Recipient of economic assistance: no data. Economic aid donor: Currency: Singapore dollar. Currency code: SGD. Exchange rate: SGD/USD – 1.7365 (January 2001), 1.7240 (2000), 1.6950 (1999), 1.6736 (1998), 1.4848 (1997), 1.4100 (1996). Fiscal year: April 1-March 31.
Telecommunications
Telecommunications Telephone lines: 1.928 million (November 2000). Mobile cell phones: 2.333 million (November 2000) Telephone system: great importance is attached to business service; excellent international service; internal: excellent condition; international: submarine cables connect Singapore with Malaysia (the state of Sabah on the island of Kalimantan and Peninsular Malaysia), Indonesia and the Philippines; ground satellite machines: 2 Intelsat (1 Indian Ocean and 1 Pacific Ocean) and 1 Inmarsat (Pacific region). Broadcast stations: AM -0, FM -16, shortwave – 2 (1998). Radio receivers: 2.6 million (2000) Television broadcast stations: 6 (2000). Televisions: 1.33 million (1997) Internet country code: sg Internet service providers: 9 (2000). Number of users: 1.74 million (2000).
Transport
Transport Railways: total: 38.6 km; narrow gauge: 38.6 km (1,000 m gauge); note: there are 83 km of urban railway with 48 stations. Roads: total: 3,150 km; paved: 3,066 km (including 150 km of expressways); unpaved: 84 km (2000) Ports and harbors: Singapore. Merchant navy: in total: 879 ships (of 1,000 tons displacement and over) with a total displacement of 20,849,168 gross register tons/33,215,317 long tons of gross tonnage; different types of ships: bulk carriers – 134, cargo ships – 111, chemical tankers – 63, dry bulk carriers – 10, combined ore and oil carriers – 6, container ships – 167, liquefied gas tankers – 28, ships for transportation livestock – 2, multifunctional heavy-duty ships – 4, passenger ships – 1, oil tankers – 295, refrigerated ships – 7, ferries – 7, coastal passenger ships – 1, specialized tankers – 10, cargo ships for transportation – 33; note: including foreign ships registered here for flag of convenience reasons: Australia 1, Bermuda 12, Belgium 6, China 9, Denmark 29, Germany 8, Airports: 9 (2000 est.). Airports with paved runways: total: 9; over 3,047 m: 2; from 2438 to 3047 m:1; from 1524 to 2437 m:4; from 914 to 1,523 m: 1; less than 914 m: 1 (2000 est.). Helipads: 1 (2000 est.). Airports with unpaved runways:
Armed forces
Branches of the Armed Forces: Army, Navy, Air Force, People’s Defense Forces, Police. Conscription age: Total military manpower: men 15 to 49: 1,316,815 (2001 est.). Eligible for military service: males aged 15 to 49: 959,636 (2001 est.). Number of persons reaching military age each year: Military spending in dollar terms: $5 billion (FY00-01 est.). Military spending as part of GDP: 4.5% (FY00-2000-01).
International Issues
International problems International disputes: dispute with Malaysia over the island of Pedra Branca (Pulau-Batu-Pu-tih). Illicit Drugs: As a major transport and financial hub, Singapore, despite tough legislation, is used to transit heroin from the Golden Triangle, as well as money laundering.
