Singapore

Description of Singapore

Singapore, a modern and dynamic city-state located in Southeast Asia, has garnered global attention for its remarkable economic growth and strategic importance. Known for its efficient governance, advanced infrastructure, and vibrant multicultural society, Singapore stands as a beacon of success in the region. As a key financial hub and a bustling trade center, Singapore's strategic location has played a crucial role in shaping its development and fostering international relations with nations around the world. Let us delve deeper into the intricate web of geopolitics and macroeconomics that underpin Singapore's journey towards prosperity and influence.

Population And Age Structure

Population, total: Singapore's population of 5,685,807 is significantly below the average population of 40,097,746 (rank 113 out of 194 countries).

Population ages 0-14 (% of total population): Singapore's percentage of population ages 0-14 at 12.15% is far below the average of 27.34% (rank 193 out of 194 countries).

Population ages 0-14, total: With 690,929 children aged 0-14, Singapore is below the average of 10,327,379 children (rank 135 out of 194 countries).

Population ages 15-64 (% of total population): Singapore's working-age population forms 74.69% of the total population, above the average of 63.44% (rank 5 out of 194 countries).

Population ages 15-64, total: Singapore's total of 4,246,955 working-age individuals is below the average of 26,003,407 individuals (rank 108 out of 194 countries).

Population ages 65 and above (% of total population): The proportion of Singapore's population that is 65 and above is 13.15%, higher than the average of 9.22% (rank 57 out of 194 countries).

Population ages 65 and above, total: With 747,922 elderly individuals, Singapore is below the average of 3,766,959 individuals (rank 83 out of 194 countries).

Summary

Singapore stands out with a relatively smaller total population and a significantly lower percentage of children aged 0-14 compared to global averages. However, it boasts a higher proportion of working-age individuals and elderly citizens. These demographic indicators are crucial as they impact workforce dynamics, healthcare needs, and social welfare policies in the country.

Population Miscellaneous

Analysis of key statistics for Singapore:

Summary

In comparison to global averages, Singapore has a significantly high urban population percentage, with all residents living in urban areas. However, Singapore has a low age dependency ratio, indicating a smaller proportion of the population requiring support. The country also exhibits low birth and death rates, as well as a very low fertility rate, which could have long-term implications on its demographic structure and workforce availability.

These statistics are crucial as they provide insights into Singapore's demographic trends, societal structure, and potential challenges such as an aging population and low birth rates impacting future workforce sustainability and economic growth.

Military

In terms of Military expenditure (current USD), Singapore spends 9,801,649,746.19289 USD, which is below the average of 12,904,993,617.16509 USD. Singapore is ranked 21 out of 149 countries in this dataset.

Looking at Military expenditure (% of GDP), Singapore's expenditure is 2.84% of its GDP, above the average of 1.90%. Singapore is ranked 26 out of 148 countries for this metric.

For Arms imports (SIPRI trend indicator values), Singapore's imports are 154,000,000 USD, lower than the average of 205,522,123.89 USD. Singapore is ranked 29 out of 113 countries in this dataset.

Singapore's Arms exports (SIPRI trend indicator values) stand at 24,000,000 USD, significantly lower than the average of 705,705,882.35 USD. Singapore is also ranked 29 out of 34 countries for this indicator.

When it comes to Armed forces personnel, total, Singapore has 59,000 personnel, lower than the average of 165,908.54 personnel. Singapore ranks 65th out of 164 countries in this category.

Lastly, in terms of Armed forces personnel (% of total labor force), Singapore's percentage is 1.68%, above the average of 1.28%. The country is ranked 35th out of 164 countries for this metric.

Summary

Singapore demonstrates a consistent pattern of above-average military expenditure as a percentage of GDP, with a high percentage of armed forces personnel relative to the total labor force. Despite its relatively small size in terms of armed forces personnel and arms exports, Singapore maintains a significant presence in the global defense arena. These indicators are crucial as they reflect Singapore's strategic prioritization of defense and security, positioning the country as a key player in the region's geopolitical landscape.

Natural Resources

For Forest area (sq. km), Singapore's value of 155.7 is significantly below the average of 211606.11 sq. km, ranking 174th out of 191 countries.

Regarding Land area (sq. km), Singapore's 718 sq. km is much lower than the average of 665166.51 sq. km, placing it at 175th out of 194 countries.

Singapore's Surface area (sq. km) of 728 is notably less than the average of 689779.56 sq. km, ranking 175th out of 194 countries.

For Arable land (hectares), Singapore's 560 hectares is far below the average of 7329543.16 hectares, placing it at 187th out of 190 countries.

With an Average precipitation in depth of 2497 mm per year, Singapore exceeds the average of 1157.83 mm per year, ranking 13th out of 178 countries.

Regarding Renewable internal freshwater resources, total (billion cubic meters), Singapore's 0.6 billion cubic meters is significantly below the average of 240.41 billion cubic meters, ranking 162nd out of 178 countries.

Summary

Singapore stands out as a country with limited natural resources, as seen through its small forest area, land area, surface area, and arable land compared to global averages. However, Singapore excels in managing its water resources, surpassing the average annual precipitation depth and ranking relatively high in this aspect. These statistics highlight Singapore's dependency on efficient resource management strategies and technology to sustain its population and economy despite geographical limitations.

Resource Rents

Singapore's total natural resources rents account for only 0.0002% of its GDP, significantly below the average of 4.63%. This places Singapore at a low rank of 174 out of 175 countries in the dataset for this attribute.

Similarly, Singapore's forest rents as a percentage of GDP are also notably low at 0.0002%, well below the average of 1.53%. This places Singapore at a rank of 170 out of 174 countries in the dataset for forest rents.

Summary

Singapore's total natural resources rents and forest rents as a percentage of GDP are remarkably low compared to the global averages, ranking the country poorly among nations. This indicates Singapore's heavy reliance on other economic sectors for GDP generation and highlights its vulnerability to external resource fluctuations. Diversification of the economy and strategic resource management may be crucial for Singapore's long-term economic stability and resilience against global market volatilities.

Commodities

Aquaculture production in Singapore is 4828.85 metric tons, which is significantly below the average of 679642.92 metric tons. Singapore ranks 94 out of 180 countries in this attribute data.

Capture fisheries production in Singapore is 355.59 metric tons, well below the average of 467453.06 metric tons. Singapore ranks 178 out of 190 countries in this attribute data.

Total fisheries production in Singapore is 5184.44 metric tons, notably lower than the average of 1153914.85 metric tons. Singapore ranks 154 out of 182 countries in this attribute data.

Fertilizer consumption in Singapore is 140.89 kilograms per hectare of arable land, slightly below the average of 159.04 kilograms per hectare. Singapore ranks 67 out of 187 countries in this attribute data.

Summary

Singapore's aquaculture, capture fisheries, and total fisheries production levels are all significantly below global averages, with rankings below 100, underscoring the country's limited capacity in the fisheries sector. Additionally, Singapore's fertilizer consumption per hectare of arable land is slightly below the global average, indicating potential inefficiencies or challenges in agricultural practices. These statistics are crucial as they highlight Singapore's dependence on imports to meet domestic food demand and suggest areas for improvement in agricultural and fisheries sustainability efforts.

Intellectual Property

Industrial design applications, nonresident, by count: Singapore has 3172 applications, which is above the average of 1415.83. It ranks 13 out of 112 countries.

Industrial design applications, resident, by count: Singapore has 394 applications, below the average of 9799.58. It ranks 44 out of 113 countries.

Patent applications, nonresidents: Singapore has 11487 applications, surpassing the average of 6538.40. It ranks 11 out of 129 countries.

Patent applications, residents: Singapore has 1778 applications, below the average of 19037.56. It ranks 20 out of 117 countries.

Trademark applications, nonresident, by count: Singapore has 39429 applications, above the average of 15878.93. It ranks 13 out of 130 countries.

Trademark applications, resident, by count: Singapore has 12805 applications, below the average of 111055.78. It ranks 43 out of 129 countries.

Scientific and technical journal articles: Singapore has 12221.19 articles, below the average of 15103.76. It ranks 38 out of 192 countries.

Charges for the use of intellectual property, payments (BoP, current US$): Singapore's charges amount to 14882786028.79, significantly above the average of 3218843494.39. It ranks 9 out of 143 countries.

Charges for the use of intellectual property, receipts (BoP, current US$): Singapore's receipts amount to 8777730130.64, well above the average of 3191687117.58. It ranks 9 out of 122 countries.

Researchers in R&D (per million people): Singapore has 7224.75 researchers, considerably above the average of 2556.45. It ranks 5 out of 72 countries.

Summary

Singapore demonstrates a strong commitment to innovation and intellectual property, as seen in its high numbers of industrial design, patent, and trademark applications both by residents and nonresidents. Its significant charges for the use of intellectual property and high number of researchers in R&D further underscore its emphasis on innovation. These indicators are crucial as they show Singapore's competitive edge in research and development, intellectual property protection, and innovation, positioning the country as a leader in the global knowledge economy.

Broad Economy Attributes

1. GDP (current US$): Singapore's GDP is 36th out of 189 countries, with a value of 348,392,090,695.22. This is below the average GDP of 442,870,224,838.68.

2. GDP, PPP (current international $): Singapore ranks 38th out of 181 countries in terms of GDP, PPP, with a value of 569,867,787,400.26. The country's GDP, PPP is below the average of 734,141,122,350.78.

3. GDP per capita (current US$): With a GDP per capita of 61,273.99, Singapore ranks 8th out of 190 countries. The GDP per capita is significantly above the average of 15,462.11.

4. GDP per capita, PPP (current international $): Singapore ranks 2nd out of 181 countries with a GDP per capita, PPP of 100,226.37. This value is well above the average of 21,251.89.

5. GNI (current US$): Singapore's GNI value is 39th out of 185 countries at 301,160,144,432.80, which is below the average GNI of 452,040,815,370.70.

6. GNI, PPP (current international $): Ranking 40th out of 181 countries, Singapore's GNI, PPP is 492,610,107,246.10, lower than the average of 730,698,223,823.47.

7. GNI per capita, PPP (current international $): With a GNI per capita, PPP of 86,640, Singapore ranks 2nd out of 181 countries. The value is significantly higher than the average of 20,615.75.

Summary

Singapore consistently ranks high in key macroeconomic indicators such as GDP, GDP per capita, and GNI per capita, both in nominal and PPP terms, placing the country among the top performers globally. These indicators reflect Singapore's strong economic performance, high standard of living, and competitiveness in the global market. The high GDP and GNI per capita signify a robust economy and the ability of Singaporeans to enjoy a high level of prosperity relative to many other countries.

Broad Value Added

Analysis of key statistics for Singapore:

1. Gross value added at basic prices (GVA) (current US$): Singapore's value is $332,322,927,039.98, which is below the average of $360,070,943,595.12. Singapore ranks 30th out of 176 countries in this statistic.

2. Agriculture, forestry, and fishing, value added (% of GDP): Singapore's value is 0.03%, significantly below the average of 10.86%. Singapore ranks 181st out of 182 countries in this category.

3. Agriculture, forestry, and fishing, value added (current US$): Singapore's value is $114,586,640.11, far below the average of $19,924,732,828.07. Singapore ranks 161st out of 182 countries in this statistic.

4. Services, value added (% of GDP): Singapore's value is 72.02%, above the average of 56.72%. Singapore ranks 15th out of 183 countries in this category.

5. Services, value added (current US$): Singapore's value is $250,898,066,450.10, below the average of $295,837,711,130.69. Singapore ranks 27th out of 183 countries in this statistic.

6. Industry (including construction), value added (current US$): Singapore's value is $81,310,273,949.77, below the average of $118,421,095,413.50. Singapore ranks 37th out of 183 countries in this category.

Summary

Singapore's key macroeconomic indicators show a strong emphasis on services, with a high percentage of GDP and value added in this sector, ranking 15th and 27th respectively globally. Conversely, Singapore has minimal contributions from agriculture, forestry, and fishing, ranking poorly in both % of GDP and current value added. These statistics underscore Singapore's position as a services-driven economy, highlighting its comparative advantage in the services sector over traditional industries.

Manufacturing Value Added

1. Manufacturing, value added (current US$): Singapore's value of 68,822,794,406.49 is below the average of 76,207,179,589.66. Singapore ranks 28 out of 173 countries in this attribute.

2. Manufacturing, value added (% of GDP): Singapore's value of 19.75% is above the average of 11.90%. Singapore ranks 20 out of 173 countries in this attribute.

3. Medium and high-tech manufacturing value added (% manufacturing value added): Singapore's value of 80.62% is significantly above the average of 24.49%. Singapore ranks 1 out of 149 countries in this attribute.

4. Chemicals (% of value added in manufacturing): Singapore's value of 22.01% is above the average of 11.56%. Singapore ranks 10 out of 89 countries in this attribute.

5. Food, beverages and tobacco (% of value added in manufacturing): Singapore's value of 4.46% is below the average of 24.51%. Singapore ranks 92 out of 92 countries in this attribute.

6. Machinery and transport equipment (% of value added in manufacturing): Singapore's value of 58.71% is significantly above the average of 16.85%. Singapore ranks 1 out of 93 countries in this attribute.

7. Textiles and clothing (% of value added in manufacturing): Singapore's value of 0.14% is below the average of 6.33%. Singapore ranks 91 out of 93 countries in this attribute.

8. Other manufacturing (% of value added in manufacturing): Singapore's value of 14.69% is below the average of 42.13%. Singapore ranks 92 out of 94 countries in this attribute.

Summary

Singapore excels in high-tech manufacturing, particularly in machinery and transport equipment, where it ranks first internationally. Its focus on high-value-added industries like chemicals and machinery has propelled its manufacturing sector above the global average in terms of contribution to GDP. However, Singapore lags behind in traditional manufacturing sectors like textiles and food, beverages, and tobacco. These indicators are important as they highlight Singapore's specialization in high-tech manufacturing, showcasing its competitive advantage in these industries while also pointing out areas for potential diversification and growth.

Money

Inflation, consumer prices in Singapore is below the global average at -0.18%, ranking 139 out of 165 countries. Inflation, GDP deflator in Singapore is also below average at -2.70%, placing Singapore at rank 167 out of 188 countries. Broad money growth is slightly below the average at 13.19% with a rank of 72 out of 139 countries. Broad money (% of GDP) in Singapore is significantly above average at 148.95%, placing Singapore at rank 7 out of 139 countries. Lastly, the Broad money to total reserves ratio in Singapore is below average, standing at 1.40, with a rank of 113 out of 126 countries.

Summary

Singapore demonstrates low inflation rates in both consumer prices and GDP deflator compared to global averages. However, the country has a significantly high proportion of broad money in relation to its GDP. This indicates a strong financial market and potential for economic growth, despite a lower ratio of money reserves, which may pose some risks in times of economic instability.

Consumption Expenditure

1. Final consumption expenditure (current US$): Singapore's final consumption expenditure is $154.77 billion, which is below the average of $381.63 billion. The country ranks 48th out of 159 countries in this data.

2. Final consumption expenditure (% of GDP): Singapore's final consumption expenditure as a percentage of GDP is 44.42%, below the average of 82.37%. The country ranks 158th out of 159 countries in this data.

3. General government final consumption expenditure (current US$): Singapore's general government final consumption expenditure is $42.62 billion, below the average of $93.68 billion. The country ranks 42nd out of 158 countries in this data.

4. General government final consumption expenditure (% of GDP): Singapore's general government final consumption expenditure as a percentage of GDP is 12.23%, below the average of 18.71%. The country ranks 124th out of 158 countries in this data.

5. Household and NPISHs Final consumption expenditure (current US$): Singapore's household and NPISHs final consumption expenditure is $112.16 billion, below the average of $290.13 billion. The country ranks 47th out of 158 countries in this data.

6. Households and NPISHs final consumption expenditure (% of GDP): Singapore's households and NPISHs final consumption expenditure as a percentage of GDP is 32.19%, below the average of 63.68%. The country ranks 154th out of 158 countries in this data.

Summary

Singapore's final consumption expenditure, general government final consumption expenditure, and household/NPISHs final consumption expenditure are all below global averages, indicating a relatively conservative spending pattern compared to other countries. This may suggest a more cautious approach to economic growth and development, prioritizing savings and investment over immediate consumption.

Equities

1. The total number of listed domestic companies in Singapore is 459. This is below the average of 636.625 companies, ranking Singapore 16th out of 72 countries in this attribute.

2. The market capitalization of listed domestic companies in Singapore is $652,614,660,000. While this is below the average of $1,196,037,851,618.88, Singapore still ranks 16th out of 73 countries in this category.

3. The market capitalization of listed domestic companies as a percentage of GDP in Singapore is 187.32%. This is significantly above the average of 71.24%, placing Singapore at the 6th rank out of 73 countries.

4. The S&P Global Equity Indices for Singapore show an annual change of 5.36%. This is higher than the average change of 2.06%, ranking Singapore 27th out of 79 countries in this metric.

Summary

Singapore performs above average in terms of the number of listed domestic companies, market capitalization, and equities indices. The high market capitalization as a percentage of GDP indicates a strong and robust corporate sector compared to other countries. This can attract investors looking for stable and profitable investment opportunities, showcasing Singapore as a competitive player in the global market.

Investment

For the attribute "Foreign direct investment, net (BoP, current US$)", Singapore's value of -40055034456.9333 is significantly below the average of -1615235980.5053596. Singapore ranks 163 out of 169 countries in this dataset.

In terms of "Foreign direct investment, net inflows (BoP, current US$)", Singapore's value of 78447583786.8198 is well above the average of 5749271080.145696. Singapore is ranked 6 out of 182 countries in this category.

Looking at "Foreign direct investment, net inflows (% of GDP)", Singapore's value of 22.51703924457 is notably higher than the average of 2.609379547494923. The country ranks 5 out of 178 countries for this metric.

Regarding "Foreign direct investment, net outflows (BoP, current US$)", Singapore's value of 38392549329.8865 is above the average of 5707991116.068991. Singapore holds a rank of 9 out of 156 countries in this aspect.

For "Foreign direct investment, net outflows (% of GDP)", Singapore's value of 11.0199256398944 is significantly higher than the average of 1.00435052368164. The country is ranked 4 out of 155 countries for this indicator.

Under "Portfolio Investment, net (BoP, current US$)", Singapore's value of 60513574401.0049 is notably higher than the average of 679559169.5717607. The country ranks 4 out of 159 countries in this category.

Finally, in terms of "Portfolio equity, net inflows (BoP, current US$)", Singapore's value of -428630963.52578 is below the average of 9197145994.702154. Singapore holds a rank of 101 out of 125 countries for this specific metric.

Summary

Singapore stands out in key macroeconomic indicators related to foreign direct investment and portfolio investments. The country consistently ranks among the top performers globally in terms of net inflows of foreign direct investment and portfolio investments, suggesting a high level of attractiveness to foreign investors. Additionally, Singapore's significant net outflows of foreign direct investment relative to GDP indicate the country's robust outbound investment activity, pointing towards a proactive approach to engaging with the global economy.

These findings are crucial as they showcase Singapore's strong position in attracting foreign capital and actively engaging in global investment opportunities. By maintaining high levels of foreign direct investment and portfolio investments, Singapore is likely to continue fostering economic growth, creating job opportunities, and strengthening its position as a key player in the global financial landscape.

Broad Trade Attributes

Analysis of key trade and external balance statistics for Singapore:

Summary

Singapore stands out as a global leader in trade and external balance statistics, with trade accounting for a significant 332.77% of its GDP, well above the global average. The country's strong performance in merchandise trade, services trade, and external balance on goods and services further solidify its position as a key player in the global economy. These indicators are crucial as they highlight Singapore's strong economic resilience, competitiveness, and ability to attract foreign investments, ultimately driving sustainable economic growth and prosperity.

Net Trade

1. Singapore's Current account balance (BoP, current US$) is $57,315,511,961.78, which is significantly higher than the average of $1,443,864,831.49, ranking 6th out of 170 countries.

2. The Current account balance (% of GDP) for Singapore is 16.45%, much higher than the average of -2.36%. Singapore ranks 5th out of 170 countries in this aspect.

3. Singapore's Net trade in goods and services (BoP, current US$) is $108,710,132,935.51, substantially above the average of $2,604,730,003.57, placing Singapore at rank 3 out of 171 countries.

4. In terms of Net primary income (BoP, current US$), Singapore's value of -$47,231,957,673.24 is significantly below the average of -$903,807,529.74, ranking 167th out of 170 countries.

5. Singapore's Net secondary income (BoP, current US$) is -$4,162,663,300.50, which is lower than the average of -$269,227,340.40. The country ranks 150th out of 170 countries in this category.

6. Singapore's Net trade in goods (BoP, current US$) is $106,415,500,486.20, far exceeding the average of $1,302,831,005.68, and placing Singapore at rank 4 out of 171 countries.

7. Lastly, Singapore's Net financial account (BoP, current US$) is $57,354,794,677.75, significantly higher than the average of -$469,840,994.63, ranking 6th out of 170 countries.

Summary

Singapore demonstrates exceptional economic strength and stability based on key macroeconomic indicators. The country excels in current account balance, net trade in goods and services, and net financial account, ranking among the top countries globally. Moreover, Singapore's significant positive values in these indicators signify strong international competitiveness, attractiveness for foreign investment, and robust economic growth, showcasing Singapore as a prominent player in the global economy.

Broad Export Attributes

1. Exports of goods, services and primary income (BoP, current US$): Singapore's value of $742,040,575,228.45 is well above the average of $146,238,908,936.30. Singapore ranks 8th out of 170 countries in this attribute.

2. Exports of goods and services (BoP, current US$): Singapore's value of $634,034,052,268.24 is significantly higher than the average of $122,938,540,059.78. Singapore also ranks 8th out of 170 countries for this attribute.

3. Exports of goods and services (current US$): Singapore's value of $634,033,899,091.28 is notably above the average of $129,596,864,610.19. In this attribute, Singapore holds the 8th rank out of 163 countries.

4. Exports of goods and services (% of GDP): Singapore's value of 181.99% is substantially higher than the average of 38.19%. Singapore is ranked 2nd out of 163 countries in this attribute.

5. Goods exports (BoP, current US$): Singapore's value of $419,941,003,448.71 exceeds the average of $93,310,581,697.39. Singapore ranks 9th out of 171 countries for this attribute.

6. ICT goods exports (% of total goods exports): Singapore's value of 33.70% is significantly higher than the average of 3.81%. Singapore ranks 4th out of 142 countries in this attribute.

Summary

Singapore stands out as a global leader in exports, consistently surpassing the average values across various key indicators such as total exports, goods exports, and ICT goods exports. The country's strong export performance, ranking within the top 10 globally in many categories, showcases its robust economy and competitive edge in international trade. These indicators highlight Singapore's significant contribution to the global market and reinforce its position as a key player in the world economy.

Merchandise Exports

Analysis of key statistics for Singapore:

1. Merchandise exports (current US$): Singapore's merchandise exports amount to $362.53 billion, significantly above the average of $89.54 billion. This places Singapore at rank 13 out of 187 countries.

2. Agricultural raw materials exports (% of merchandise exports): Singapore's export of agricultural raw materials is only 0.43% of its total merchandise exports, well below the average of 2.97%. Singapore ranks 115 out of 151 countries in this aspect.

3. Food exports (% of merchandise exports): Singapore's food exports account for 3.43% of its merchandise exports, much lower than the average of 24.06%. Singapore ranks 134 out of 152 countries in this category.

4. Fuel exports (% of merchandise exports): Fuel exports represent 8.08% of Singapore's merchandise exports, below the average of 13.70%. Singapore ranks 50 out of 147 countries for this statistic.

5. Ores and metals exports (% of merchandise exports): Singapore's ores and metals exports make up 0.72% of its merchandise exports, significantly lower than the average of 9.10%. In this aspect, Singapore ranks 127 out of 152 countries.

6. Merchandise exports by the reporting economy, residual (% of total merchandise exports): The residual merchandise exports for Singapore are only 0.03% of its total merchandise exports, far below the average of 3.20%. Singapore ranks 120 out of 166 countries regarding this statistic.

Summary

Singapore stands out for its robust merchandise exports, ranking 13th globally with exports totaling $362.53 billion. However, the country heavily relies on high-value exports like electronics and pharmaceuticals, as seen in its low percentages of agricultural raw materials, food, ores, and metals exports. Diversifying its export base beyond these sectors could help Singapore mitigate risks associated with fluctuations in global demand for these products and strengthen its economic resilience.

Technology Exports

1. Manufactures exports (% of merchandise exports): Singapore's value for this attribute is 77.45%, which is significantly higher than the average of 42.62%. Singapore ranks 26 out of 152 countries in this data set.

2. High-technology exports (current US$): Singapore's high-technology exports amount to $159,927,958,418, showing a stark difference from the average of $16,655,934,078. Singapore ranks 4 out of 151 countries in this data set.

3. High-technology exports (% of manufactured exports): Singapore's value stands at 55.26%, well above the average of 10.15%. The country ranks 2 out of 150 countries in this attribute data.

4. Medium and high-tech exports (% manufactured exports): Singapore's value is 77.34%, which is notably higher than the average of 34.29%. Singapore ranks 6 out of 149 countries in this attribute data.

Summary

Singapore excels in the export of high-technology products, with a significantly higher percentage of high-tech exports compared to the average. This dominance in high-tech exports contributes to Singapore's strong position in the global market, enabling the country to compete effectively and drive economic growth through innovation and technology. The country's high rankings across various categories indicate its advanced manufacturing capabilities and focus on high value-added exports, positioning Singapore as a key player in the global technology trade landscape.

Service Exports

Singapore's service exports amount to $214,093,048,819.53, which is significantly above the average of $28,917,292,503.82, ranking 7th out of 171 countries.
The ICT service exports of Singapore total $19,560,835,663.68, surpassing the average of $4,578,501,153.77, ranking 10th out of 166 countries.
Singapore's ICT service exports as a percentage of total service exports is 9.14%, below the average of 11.75%, placing it 77th out of 166 countries.
The country's communications, computer, etc. services as a percentage of total service exports stand at 47.41%, above the average of 45.85%, securing the 87th rank out of 169 countries.
Transport services constitute 30.38% of Singapore's service exports, surpassing the average of 21.80%, ranking 45th out of 169 countries.
For travel services, Singapore's 2.50% is notably below the average of 26.40%, placing it 158th out of 167 countries.
Singapore excels in insurance and financial services, with 19.71% of service exports, significantly higher than the average of 6.46%, ranking 12th out of 161 countries.

Summary

Singapore stands out globally for its strong service exports, particularly in ICT, communications, and financial services. Although the country's ICT service exports as a percentage of total service exports are slightly below the average, its specialization in communications and financial services has propelled its ranking in these sectors. These indicators are crucial as they showcase Singapore's economic diversification, resilience, and competitive edge in the global market, contributing significantly to its overall economic growth and stability.

Commercial Service Exports

1. Commercial service exports in current US$: Singapore's value of 213,794,514,673.64 is above the average of 28,508,218,402.79. Singapore ranks 7 out of 171 countries in this attribute.

2. Travel services (% of commercial service exports): Singapore's value of 2.50% is below the average of 27.89%. Singapore ranks 158 out of 167 countries in this attribute.

3. Computer, communications and other services (% of commercial service exports): Singapore's value of 47.33% is above the average of 42.44%. Singapore ranks 76 out of 169 countries in this attribute.

4. Insurance and financial services (% of commercial service exports): Singapore's value of 19.74% is above the average of 6.97%. Singapore ranks 14 out of 161 countries in this attribute.

5. Transport services (% of commercial service exports): Singapore's value of 30.42% is above the average of 23.37%. Singapore ranks 51 out of 169 countries in this attribute.

Summary

Singapore excels in commercial service exports, ranking highly in key sectors such as computer, communications, and financial services. However, the country performs relatively poorly in the travel services sector. These indicators are crucial as they reflect Singapore's specialization in high value-added services and its ability to attract investments and talent from around the world, contributing significantly to its economic growth and competitiveness on the global stage.

Broad Import Attributes

- Singapore's Imports of goods and services (current US$) amount to $525.32 billion, surpassing the average of $126.19 billion, ranking 9th out of 163 countries.

- The Imports of goods and services (% of GDP) in Singapore stand at 150.79%, much higher than the average of 44.15%, ranking 3rd out of 163 countries.

- Singapore's ICT goods imports (% total goods imports) are at 32.85%, significantly above the average of 6.85%, placing Singapore 1st out of 143 countries.

- With Goods imports (BoP, current US$) worth $313.53 billion, Singapore exceeds the average of $92.01 billion, ranking 14th out of 171 countries.

- Singapore's Imports of goods and services (BoP, current US$) are $525.32 billion, exceeding the average of $120.32 billion, ranking 10th out of 170 countries.

- The Imports of goods, services, and primary income (BoP, current US$) in Singapore amount to $680.56 billion, significantly above the average of $144.51 billion, ranking 9th out of 170 countries.

Summary

Singapore stands out significantly in terms of import-related macroeconomic indicators. It ranks high in terms of the value of imports of goods and services, as well as the percentage of imports compared to its GDP. The country also leads globally in the importation of ICT goods. These indicators are crucial as they showcase Singapore's strong reliance on imports for its economic activities and its pivotal role in global trade networks.

Merchandise Imports

Merchandise imports in Singapore amount to $329.83 billion, significantly exceeding the average of $89.39 billion, ranking 14th out of 190 countries.

Manufactures imports account for 73.06% of Singapore's merchandise imports, slightly above the average of 66.76%, placing Singapore 43rd out of 152 countries.

Agricultural raw materials imports in Singapore represent only 0.32% of its merchandise imports, well below the average of 1.27%, ranking 145th out of 152 countries.

Food imports constitute 4.11% of Singapore's merchandise imports, lower than the average of 15.89%, positioning Singapore 152nd out of 152 countries.

Fuel imports make up 14.94% of Singapore's merchandise imports, higher than the average of 11.38%, ranking 36th out of 152 countries.

Ores and metals imports contribute 1.23% to Singapore's merchandise imports, below the average of 2.57%, placing Singapore 95th out of 152 countries.

Singapore's residual merchandise imports amount to 0.01% of total merchandise imports, far below the average of 2.51%, ranking 151st out of 180 countries.

Summary

Singapore has a robust economy with a significant focus on manufactured goods and fuel imports, ranking relatively high compared to global averages. However, the country's reliance on agricultural raw materials, food imports, and ores/metals imports is notably lower, positioning it towards the lower end of the rankings. These indicators are crucial as they highlight Singapore's specialization in certain sectors, its vulnerability to global commodity price fluctuations, and its strategic trade dependencies.

Service Imports

1. Service imports (BoP, current US$): Singapore's service imports amount to $211.8 billion, ranking 7th out of 171 countries. This value is significantly higher than the average service imports of $27.6 billion.

2. Communications, computer, etc. (% of service imports, BoP): Singapore's percentage of services in this category, at 54.15%, is above the average of 44.40%. It ranks 55th out of 169 countries.

3. Transport services (% of service imports, BoP): With 34.78% allocation to transport services, Singapore ranks 66th out of 169 countries, just slightly above the average of 32.90%.

4. Travel services (% of service imports, BoP): Singapore's focus on travel services, at 3.35%, is notably below the average of 14.14%. This places Singapore at the 146th position out of 169 countries.

5. Insurance and financial services (% of service imports, BoP): Accounting for 7.72% of service imports, Singapore's allocation in this category is slightly below the average of 8.53%. The country ranks 77th out of 169 countries in this aspect.

Summary

Singapore shows a strong emphasis on communication and computer services within its service imports, ranking above average at 54.15%. However, its focus on travel services is notably below average, at 3.35%. These findings are crucial as they indicate Singapore's strategic priorities in service imports, highlighting areas of strength and potential areas for growth and diversification in the economy.

Commercial Service Imports

Analysis of key commercial service imports statistics for Singapore:

1. Commercial service imports (current US$): Singapore's value of $211.59 billion is significantly above the average of $27.10 billion, ranking 7th out of 171 countries in the dataset.

2. Computer, communications and other services (% of commercial service imports): Singapore's value of 54.11% is higher than the average of 41.71%, placing it at the 52nd rank out of 169 countries.

3. Insurance and financial services (% of commercial service imports): Singapore's value of 7.72% is below the average of 8.85%, positioning it at the 79th rank out of 169 countries.

4. Transport services (% of commercial service imports): Singapore's value of 34.82% is slightly above the average of 34.71%, ranking it at 79th out of 169 countries.

5. Travel services (% of commercial service imports): Singapore's value of 3.35% is notably below the average of 14.73%, placing it at the 149th rank out of 169 countries.

Summary

Singapore's key commercial service imports statistics reveal a strong position in the global market, with a total value well above the average. The country's focus on computer, communications, and other services highlights its emphasis on tech-driven sectors, while its lower percentage in travel services indicates potential areas for growth and diversification in the future.

These statistics are important as they showcase Singapore's strategic economic priorities, emphasizing innovation and high-value services over traditional sectors. Understanding these trends can assist policymakers and businesses in making informed decisions to further enhance Singapore's global competitiveness and economic resilience.

Infrastructure

1. Air transport, freight (million ton-km): Singapore's value of 3019.93 million ton-km is significantly above the average of 1384.37 million ton-km, ranking 13th out of 126 countries in the dataset.

2. Air transport, registered carrier departures worldwide: Singapore's 64267 departures is below the average of 134365.61, placing it at 40th out of 149 countries.

3. Air transport, passengers carried: Singapore's 7884373 passengers carried is below the average of 11848242.70, ranking 35th out of 149 countries.

4. Container port traffic (TEU: 20 foot equivalent units): Singapore's traffic of 36870900 TEU is significantly above the average of 6907110.27, securing the 3rd rank out of 110 countries.

Summary

Singapore excels in air transport freight and container port traffic, ranking high above the global averages in both indicators. However, in terms of air transport departures and passengers carried, Singapore falls slightly below the global averages. These findings are crucial as they highlight Singapore's strong position in global trade and logistics, while also indicating areas where improvements could be made to enhance its air transport connectivity.

Information Technology Infrastructure

Analysis of key statistics for Singapore:

1. Secure Internet servers: Singapore has 729,931 secure internet servers, which is above the average of 458,294. Singapore ranks 17th out of 193 countries.

2. Secure Internet servers (per 1 million people): With 128,377.73 secure internet servers per 1 million people, Singapore surpasses the average of 14,067.17. It ranks 5th out of 193 countries.

3. Individuals using the Internet (% of population): Singapore has 92.00% of its population using the internet, higher than the average of 64.77%. It ranks 25th out of 180 countries.

4. Fixed broadband subscriptions: Singapore has 1,509,700 fixed broadband subscriptions, below the average of 6,591,956.35. It ranks 64th out of 185 countries.

5. Mobile cellular subscriptions: Singapore has 8,444,800 mobile cellular subscriptions, which is below the average of 42,526,463.87. It ranks 95th out of 193 countries.

Summary

Singapore stands out for its robust digital infrastructure, boasting a high number of secure internet servers both in total and per capita, along with a significantly high percentage of its population using the internet. However, the country lags behind in fixed broadband and mobile cellular subscriptions compared to global averages. These statistics are important as they indicate Singapore's strong position in digital connectivity and highlight areas where there is room for growth and improvement to further enhance its digital capabilities and reach.

Energy Consumption

Regarding Renewable energy consumption (% of total final energy consumption), Singapore's value of 0.92% is significantly below the average of 32.18%. This places Singapore at rank 179 out of 191 countries in the dataset.

As for CO2 emissions (kt), Singapore's emissions of 43,705 kt are well below the average of 171,895.94 kt. This places Singapore at rank 58 out of 188 countries in the dataset.

Summary

Singapore's low renewable energy consumption and relatively low CO2 emissions compared to global averages position the country as an outlier among nations. The country's dependence on traditional energy sources may indicate potential challenges in transitioning to a more sustainable energy future and meeting climate change goals efficiently.

Government Balance Sheet

Net acquisition of financial assets (% of GDP): Singapore shows a value of 7.93%, which is significantly above the average of 2.45%. This places Singapore at rank 7 out of 87 countries in the dataset.

Central government debt, total (% of GDP): Singapore's total debt stands at 152.04% of its GDP, surpassing the average of 74.12%. This places Singapore at rank 4 out of 61 countries.

Net incurrence of liabilities, total (% of GDP): Singapore's liabilities amount to 15.32% of its GDP, which is higher than the average of 7.43%. This places Singapore at rank 6 out of 92 countries.

Reserves and related items (BoP, current US$): Singapore holds reserves worth 74,830,907,977.02 USD, significantly higher than the average of 1,924,407,186.58 USD. This places Singapore at rank 3 out of 171 countries.

Total reserves minus gold (current US$): Singapore's reserves minus gold amount to 362,088,236,299.81 USD, surpassing the average of 74,221,588,171.61 USD. This places Singapore at rank 8 out of 161 countries.

Total reserves (includes gold, current US$): With total reserves of 369,834,181,899.81 USD, Singapore exceeds the average of 85,708,019,773.47 USD. This places Singapore at rank 9 out of 161 countries.

Total reserves in months of imports: Singapore's total reserves in months of imports is 6.52, slightly below the average of 7.10 months. This places Singapore at rank 62 out of 151 countries.

Summary

Singapore stands out in key macroeconomic indicators such as net acquisition of financial assets, total government debt, and reserves. It ranks highly in terms of reserves and total financial assets, indicating strong financial stability and capacity for investment. These indicators are crucial as they reflect Singapore's ability to weather economic fluctuations, attract investors, and maintain a solid fiscal position in the global market.

Government Revenue

1. Revenue, excluding grants (% of GDP): Singapore's value for this attribute is 18.11%, which is below the average of 27.02%. Singapore ranks 91st out of 122 countries in this aspect.

2. Grants and other revenue (% of revenue): Singapore's value is 29.47%, higher than the average of 23.54%. Singapore ranks 27th out of 108 countries in this category.

3. Taxes on goods and services (% of revenue): Singapore's value stands at 20.43%, below the average of 31.82%. Singapore ranks 102nd out of 122 countries for this metric.

4. Other taxes (% of revenue): Singapore performs significantly above average with a value of 12.21%, compared to the average of 2.12%. Singapore ranks 3rd out of 106 countries in this area.

5. Taxes on income, profits and capital gains (% of revenue): In this category, Singapore's value is relatively high at 37.89%, surpassing the average of 24.66%. Singapore ranks 16th out of 119 countries for this attribute.

Summary

Singapore demonstrates a unique fiscal profile compared to other countries, with lower revenue as a percentage of GDP but higher grants and other revenue. The country stands out for its higher-than-average contribution from other taxes, while its taxes on goods and services are relatively low. These indicators suggest that Singapore relies more on external funding sources and unconventional tax revenue streams, which may impact its fiscal sustainability and economic development strategies.

Taxes

1. Tax revenue (% of GDP): Singapore's tax revenue as a percentage of its GDP is 12.77%, which is below the attribute average of 16.72%. Singapore ranks 86 out of 123 countries in this category.

2. Taxes on income, profits and capital gains (% of total taxes): Singapore's portion of taxes on income, profits, and capital gains is 53.72% of total taxes, surpassing the attribute average of 38.40%. Singapore is ranked 17 out of 120 countries for this metric.

3. Tariff rate, applied, weighted mean, all products (%): Singapore has a low applied tariff rate of 0.05%, significantly below the attribute average of 5.21%. This places Singapore at a ranking of 152 out of 153 countries in terms of tariff rates.

Summary

Singapore demonstrates a tax-efficient system with tax revenue accounting for 12.77% of its GDP, below the global average of 16.72%. Moreover, the country relies significantly on income, profits, and capital gains for its tax revenue, with a percentage of 53.72, surpassing the average of 38.40%. Additionally, Singapore maintains a highly competitive position in international trade by imposing a remarkably low weighted average tariff rate of 0.05% across all products, positioning it as one of the least protectionist economies globally.

These indicators are crucial as they highlight Singapore's tax competitiveness, efficient revenue generation from income sources, and its commitment to fostering an open and trade-friendly environment. Such macroeconomic policies contribute to Singapore's attractiveness to businesses, investors, and international trade partners, ultimately supporting its economic growth and competitiveness on the global stage.

Government Expenses

Expense (% of GDP): Singapore's expense as a percentage of GDP is 25.80%, which is below the average of 31.69%. Singapore ranks 78th out of 123 countries in this attribute.

Compensation of employees (% of expense): Singapore allocates 14.29% of its expenses to employee compensation, below the average of 24.70%. The country ranks 91st out of 123 countries.

Goods and services expense (% of expense): Singapore's spending on goods and services accounts for 23.66% of its expenses, higher than the average of 14.77%. Singapore ranks 19th out of 122 countries.

Interest payments (% of expense): Singapore's interest payments as a percentage of expenses are 0.35%, significantly below the average of 6.85%. Singapore ranks 118th out of 121 countries.

Other expense (% of expense): Singapore's allocation towards other expenses is 40.87% of its total expenses, much higher than the average of 8.29%. Singapore is ranked 1st out of 120 countries in this category.

Subsidies and other transfers (% of expense): Singapore's spending on subsidies and transfers accounts for 20.83% of its expenses, notably below the average of 43.29%. The country ranks 106th out of 121 countries.

Summary

Singapore exhibits a unique pattern in its expense allocation compared to global averages. The country maintains a lower overall expense as a percentage of GDP, but allocates a significant portion to goods and services and other expenses, while keeping interest payments notably lower. This strategic allocation indicates Singapore's focus on investing in goods and services to drive economic growth and prioritize other strategic expenditures over interest payments, which could be crucial for long-term sustainable development and economic stability.

Top Stats

Ranks in Top Decile For:

Attribute Rank/Total
Population ages 15-64 (% of total population) 5/194
Urban population (% of total population) 4/194
Average precipitation in depth (mm per year) 13/178
Patent applications, nonresidents 11/129
Charges for the use of intellectual property, payments (BoP, current US$) 9/143
Charges for the use of intellectual property, receipts (BoP, current US$) 9/122
Researchers in R&D (per million people) 5/72
GDP per capita (current US$) 8/190
GDP per capita, PPP (current international $) 2/181
GNI per capita, PPP (current international $) 2/181
Services, value added (% of GDP) 15/183
Medium and high-tech manufacturing value added (% manufacturing value added) 1/149
Machinery and transport equipment (% of value added in manufacturing) 1/93
Broad money (% of GDP) 7/139
Market capitalization of listed domestic companies (% of GDP) 6/73
Foreign direct investment, net inflows (BoP, current US$) 6/182
Foreign direct investment, net inflows (% of GDP) 5/178
Foreign direct investment, net outflows (BoP, current US$) 9/156
Foreign direct investment, net outflows (% of GDP) 4/155
Portfolio Investment, net (BoP, current US$) 4/159
Trade (% of GDP) 3/163
Merchandise trade (% of GDP) 1/186
Trade in services (% of GDP) 4/171
External balance on goods and services (current US$) 3/163
External balance on goods and services (% of GDP) 2/163
Current account balance (BoP, current US$) 6/170
Current account balance (% of GDP) 5/170
Net trade in goods and services (BoP, current US$) 3/171
Net trade in goods (BoP, current US$) 4/171
Net financial account (BoP, current US$) 6/170
Exports of goods, services and primary income (BoP, current US$) 8/170
Exports of goods and services (BoP, current US$) 8/170
Exports of goods and services (current US$) 8/163
Exports of goods and services (% of GDP) 2/163
Goods exports (BoP, current US$) 9/171
ICT goods exports (% of total goods exports) 4/142
Merchandise exports (current US$) 13/187
High-technology exports (current US$) 4/151
High-technology exports (% of manufactured exports) 2/150
Medium and high-tech exports (% manufactured exports) 6/149
Service exports (BoP, current US$) 7/171
ICT service exports (BoP, current US$) 10/166
Insurance and financial services (% of service exports, BoP) 12/161
Commercial service exports (current US$) 7/171
Insurance and financial services (% of commercial service exports) 14/161
Imports of goods and services (current US$) 9/163
Imports of goods and services (% of GDP) 3/163
ICT goods imports (% total goods imports) 1/143
Goods imports (BoP, current US$) 14/171
Imports of goods and services (BoP, current US$) 10/170
Imports of goods, services and primary income (BoP, current US$) 9/170
Merchandise imports (current US$) 14/190
Service imports (BoP, current US$) 7/171
Commercial service imports (current US$) 7/171
Container port traffic (TEU: 20 foot equivalent units) 3/110
Secure Internet servers 17/193
Secure Internet servers (per 1 million people) 5/193
Net acquisition of financial assets (% of GDP) 7/87
Central government debt, total (% of GDP) 4/61
Net incurrence of liabilities, total (% of GDP) 6/92
Reserves and related items (BoP, current US$) 3/171
Total reserves minus gold (current US$) 8/161
Total reserves (includes gold, current US$) 9/161
Other taxes (% of revenue) 3/106
Other expense (% of expense) 1/120

Ranks in Bottom Decile For:

Attribute Rank/Total
Population ages 0-14 (% of total population) 193/194
Age dependency ratio (% of working-age population) 190/194
Birth rate, crude (per 1,000 people) 182/192
Death rate, crude (per 1,000 people) 178/192
Fertility rate, total (births per woman) 188/190
Forest area (sq. km) 174/191
Land area (sq. km) 175/194
Surface area (sq. km) 175/194
Arable land (hectares) 187/190
Renewable internal freshwater resources, total (billion cubic meters) 162/178
Total natural resources rents (% of GDP) 174/175
Forest rents (% of GDP) 170/174
Capture fisheries production (metric tons) 178/190
Agriculture, forestry, and fishing, value added (% of GDP) 181/182
Food, beverages and tobacco (% of value added in manufacturing) 92/92
Textiles and clothing (% of value added in manufacturing) 91/93
Other manufacturing (% of value added in manufacturing) 92/94
Final consumption expenditure (% of GDP) 158/159
Households and NPISHs final consumption expenditure (% of GDP) 154/158
Foreign direct investment, net (BoP, current US$) 163/169
Net primary income (BoP, current US$) 167/170
Travel services (% of service exports, BoP) 158/167
Travel services (% of commercial service exports) 158/167
Agricultural raw materials imports (% of merchandise imports) 145/152
Food imports (% of merchandise imports) 152/152
Renewable energy consumption (% of total final energy consumption) 179/191
Tariff rate, applied, weighted mean, all products (%) 152/153
Interest payments (% of expense) 118/121