Economics Indicator of Singapore

In: Business and Management

Submitted By mariach21
Words 2539
Pages 11
Table of Contents 1 Overview Of Singapore 3 1.1 Highlight Of Singapore Economy 3 2 Economic Indicator Analysis Of Singapore Economy 4 2.1 GDP 4 2.1.1 GDP(Gross Domestic Product) 5 2.1.2 GDP Growth Rate: 6 2.1.3 GDP Per Capita 7 2.2 Labour 8 2.2.1 Unemployment Rate: 9 2.2.2 Employed Person 10 10 2.3 Price 10 2.3.1 CPI(Consumer Price Index): 11 2.3.2 Inflation Rate: 12 2.3.3 GDP Deflator 13 3 References 14

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OVERVIEW OF SINGAPORE
Singapore is a highly developed trade-oriented market economy. It has been ranked as the most open in the world, least corrupt, most pro-business, with low tax rates. Singapore is a wealthy country with a medium-sized economy, located in East Asia. Singapore has the world’s 35th largest economy by nominal GDP. It is a high-income economy with a gross national income of $47,210 per capita (statistics of 2013). It provides the world’s most business-friendly regulatory environment for local entrepreneurs and is ranked among the world’s most competitive economies. In the decades after independence, Singapore rapidly developed from a low income country to a high income country. GDP grew with an average of 7.7% since independence; in the first 25 years growth topped 9.2%. Per capita GDP over the same periods grew by 5.4% and 7.2%. Rapid industrialization took momentum in the 1960s and, by the end of the decade; manufacturing had become the lead sector of the country’s economic growth. By the early 1970s, Singapore had reached full employment. In the 1980s, Singapore had joined the ranks of Hong Kong, South Korea and Taiwan among the newly industrializing countries in Asia. It has been seen positive growth from its independence till now the GDP, CPI and other factor shows positive trend over the last few decade. It has strong manufacturing and services sectors have become the twin pillars of…...

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