Data at glance of Singapore - average on period

variable 1980-1989 1990-1999 2000-2007 2008-2009 2010-2019 2020 2021 2022 2023 2024
real gdp growth 7.8 7.14 5.57 7.32 3.16 9.76 4.11 1.82 4.39 2.01
CPI % 2.26 1.73 1.62 1.71 1.36 2.32 6.13 4.83 2.39 1.34
Unemployment rate 4.05 1.98 2.95 2.6 2.13 2.65 2.1 1.93 1.95 1.97
Debt/GDP % 73.51 76.14 93.8 100.18 110.74 141.73 154.3 172.8 174.3 174.94
Current account balance/GDP % 0.14 14.08 20.66 19.66 17.74 19.8 18.42 17.69 17.54 17.15

Data derived from World Economic Outlook Database. To see main macroeconomic indicator in graphs click here

History

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.

Environment

Area: 719 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

Ethnic characteristics

Groups: Chinese 74.2%, Malay 13.7%, Indian 8.9%, other 3.2% (2021 est.)note: data represent population by self-identification; the population is divided into four categories: Chinese, Malay (includes indigenous Malays and Indonesians), Indian (includes Indian, Pakistani, Bangladeshi, or Sri Lankan), and other ethnic groups (includes Eurasians, Caucasians, Japanese, Filipino, Vietnamese)

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.)major-language sample(s): The World Factbook, the indispensable source for basic information. (English)世界概況  –  不可缺少的基本消息來源 (Mandarin)note: data represent language most frequently spoken at home

Religions: Buddhist 31.1%, Christian 18.9%, Muslim 15.6%, Taoist 8.8%, Hindu 5%, other 0.6%, none 20% (2020 est.)

Government

Capital: Singapore

Government type: parliamentary republic

Executive branch

Chief of state: President THARMAN Shanmugaratnam (since 14 September 2023)

Head of government: Prime Minister Lawrence WONG (since 15 May 2024)cabinet: Cabinet appointed by the president on the advice of the prime minister; responsible to Parliamentelection/appointment process: president directly elected by simple-majority popular vote for a 6-year term (no term limits); following legislative elections, the president appoints the leader of the majority party or majority coalition as prime minister; deputy prime ministers also appointed by the presidentmost recent election date: 1 September 2023election results: 2023: THARMAN Shanmugaratnam elected president; percent of vote - THARMAN Shanmugaratnam (independent) 70.4%, NG Kok Song (independent) 15.7%, TAN Kin Lian (independent) 13.9%2017: HALIMAH Yacob declared president on 13 September 2017, being the only eligible candidateexpected date of next election: 2029

Legislative branch

Description: legislature name: Parliamentlegislative structure: unicameralnumber of seats: 108 (97 directly elected; 9 appointed)electoral system: plurality/majorityscope of elections: full renewalterm in office: 5 yearsmost recent election date: 5/3/2025parties elected and seats per party: People's Action Party (PAP) (87); Workers' Party (WPS) (12)percentage of women in chamber: 32.3%expected date of next election: May 2030

Information derived by "The World Factbook 2021. Washington, DC: Central Intelligence Agency, 2021. https://www.cia.gov/the-world-factbook/"