Region: South-eastern Asia

Capital: Singapore

Population: 4,608,167 (July 2008 est.)

Surface area: 692.7 sq km

Currency: Singapore dollar (SGD)

GDP per capita: Purchasing power parity US $49,700 (2007 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 equal to that of the four largest West European countries. The economy depends heavily on exports, particularly in consumer electronics and information technology products. It was hard hit from 2001-03 by the global recession, by the slump in the technology sector, and by an outbreak of Severe Acute Respiratory Syndrome (SARS) in 2003, which curbed tourism and consumer spending. Fiscal stimulus, low interest rates, a surge in exports, and internal flexibility led to vigorous growth in 2004-07 with real GDP growth averaging 7% annually. The government hopes to establish a new growth path that will be less vulnerable to the global demand cycle for information technology products - it 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.

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

Remittances: Not available

Human Development Index 2007/2008 ranking: 25 out of 177

Official Development Assistance and Major Development Partners: $0 (2007)

Total External Debt: US $25.59 billion (31 December 2007 est.)

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 2007/2008.United Nations Development Programme. www.undp.org

Updated June 2008