| variable | 1980-1989 | 1990-1999 | 2000-2007 | 2008-2009 | 2010-2019 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| real gdp growth | 7.81 | 7.14 | 5.56 | 7.3 | 3.13 | 1.5 | 5.3 | 5.0 | 3.5 | 2.7 |
| CPI % | 2.25 | 1.71 | 1.62 | 1.7 | 1.37 | 4.8 | 2.4 | 0.9 | 2.3 | 1.9 |
| Unemployment rate | 4.06 | 1.99 | 2.98 | 2.6 | 2.15 | 1.9 | 2.0 | 2.0 | 2.0 | 2.0 |
| Debt/GDP % | 73.5 | 76.14 | 93.81 | 100.2 | 110.5 | 170.4 | 166.0 | 171.3 | 171.9 | 172.7 |
| Current account balance/GDP % | 0.14 | 14.08 | 20.66 | 19.65 | 17.76 | 16.4 | 17.2 | 16.7 | 16.6 | 16.5 |
Data derived from World Economic Outlook Database. To see main macroeconomic indicator in graphs click here
A Malay trading port known as Temasek existed on the island of Singapore by the 14th century. The settlement changed hands several times in the ensuing centuries and was eventually burned in the 17th century, falling into obscurity. In 1819, the British founded modern Singapore as a trading colony on the same site and granted it full internal self-government for all matters except defense and foreign affairs in 1959. Singapore joined the Malaysian Federation in 1963 but was ousted two years later and became independent. Singapore subsequently became one of the world's most prosperous countries, with strong international trading links and per capita GDP among the highest globally. The People’s Action Party has won every general election in Singapore since the end of the British colonial era, aided by its success in delivering consistent economic growth, as well as the city-state's fragmented opposition and electoral procedures that strongly favor the ruling party.
Area: 719 sq km km2
Climate: tropical; hot, humid, rainy; two distinct monsoon seasons - northeastern monsoon (December to March) and southwestern monsoon (June to September); inter-monsoon - frequent afternoon and early evening thunderstorms
Natural resources: fish, deepwater ports
Groups: Chinese 74.2%, Malay 13.7%, Indian 8.9%, other 3.2% (2021 est.)
Languages: English (official) 48.3%, Mandarin (official) 29.9%, other Chinese dialects (includes Hokkien, Cantonese, Teochew, Hakka) 8.7%, Malay (official) 9.2%, Tamil (official) 2.5%, other 1.4% (2020 est.)
Religions: Buddhist 31.1%, Christian 18.9%, Muslim 15.6%, Taoist 8.8%, Hindu 5%, other 0.6%, none 20% (2020 est.)
Capital: Singapore
Government type: parliamentary republic
Chief of state: President THARMAN Shanmugaratnam (since 14 September 2023)
Head of government: Prime Minister Lawrence WONG (since 15 May 2024)
Description: Parliament - unicameral
high-income, service-based economy; global financial hub; business-friendly policies and open to investment and trade; inflation easing but persistent in services; public investments in education, healthcare, and infrastructure; strong human capital development challenged by aging population
electronics, chemicals, financial services, oil drilling equipment, petroleum refining, biomedical products, scientific instruments, telecommunication equipment, processed food and beverages, ship repair, offshore platform construction, entrepot trade
GDP by sector: Agriculture: 0% (2024 est.), Industry: 21.4% (2024 est.), Services: 73% (2024 est.)
Export partners: Hong Kong 13%, China 11%, USA 10%, Malaysia 9%, S. Korea 6% (2023)
Export commodities: integrated circuits, refined petroleum, machinery, vaccines, gold (2023)
Import partners: China 15%, Malaysia 11%, Taiwan 11%, USA 10%, S. Korea 6% (2023)
Import commodities: integrated circuits, refined petroleum, crude petroleum, gold, gas turbines (2023)
Southeastern Asia, islands between Malaysia and Indonesia
Military expenditure: 2024: 3% of GDP (2024 est.)
Information derived from worldfactbook.io (Lupon Media), open successor to the CIA World Factbook. Data sourced from World Bank, IMF, UN and other international organizations.