Singapore

Region: South-eastern Asia

Capital: Singapore

Population: 5,187,900 (UNDP 2011)

Surface area: 692.7 sq km

Currency: Singapore dollar (SGD)

GDP per capita: Purchasing power parity US $59,900 (2011- CIA – est.)

Background:
Singapore was founded as a British trading colony in 1819. It joined the Malaysian Federation in 1963 but separated two years later and became independent. Singapore subsequently became one of the world’s most prosperous countries with strong international trading links (its port is one of the world’s busiest in terms of tonnage handled) and with per capita GDP equal to that of the leading nations of Western Europe.

Economy – Overview
Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. The economy depends heavily on exports, particularly in consumer electronics, information technology products, pharmaceuticals, and on a growing financial services sector. Real GDP growth averaged 8.6% between 2004 and 2007. The economy contracted 1.0% in 2009 as a result of the global financial crisis, but rebounded 14.8% in 2010 and 4.9% in 2011, on the strength of renewed exports. Over the longer term, the government hopes to establish a new growth path that focuses on raising productivity, which has sunk to a compound annual growth rate of just 1.8% in the last decade. Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue efforts to establish Singapore as Southeast Asia’s financial and high-tech hub. (CIA, 2012)

Major Export Commodities: machinery and equipment (including electronics), consumer goods, chemicals, mineral fuels

Remittances: Not available

Human Development Index 2011 ranking: 26 out of 187 countries

Official Development Assistance and Major Development Partners:$0

Total External Debt: US $23.59 billion (December 2011- CIA – est.)

Life Expectancy at Birth: 81.1 years (UNDP 2011)

Environmental Indicators:

                                                Endangered Species (as a % of all species): 17

                                                Forested Area (percentage of land area): 3.3

                                                CO2 Emissions (tonnes per capita): 7.0

                                                (Data Source: UNDP 2011)

United Nations membership date: 15 December 1976

New York Mission:

Permanent Mission of the Republic of Singapore to the United Nations

231 East 51st Street

New York, N.Y. 10022 USA

Telephone: 212-826-0840, 0841, 0842, 0843, 0844

Fax: 212-826-2964

Email: singapore@un.int
Website: http://www.mfa.gov.sg/newyork

 

Sources:

CIA World Factbook. Central Intelligence Agency. www.cia.gov

World Development Indicators. World Bank www.worldbank.org

Development, Recipient Aid Charts. Organization for Economic Co-operation and Development. www.oecd.org

Human Development Report 2011. United Nations Development Programme. www.undp.org

 

Updated July 2012