ECON FACTBOOK

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Economy of Singapore

Population: 5.4 million in 2013¹

GDP: $298 billion in 2013²

GDP per capita: $55,182 nominal³ ($78,744 PPP⁴) in 2013

GDP growth rate: 3.9% in 2013⁵

Industries

GDP by Industry 2012⁶

Industry sector	Value added ($ billions) 2012	Percent of total
Other activities	104	41.5%
Manufacturing	52	20.8%
Wholesale, retail trade, restaurants and hotels	51	20.5%
Transport, storage and communication	28	11.3%
Construction	10	4.2%
Mining and utilities	4	1.7%
Agriculture, hunting, forestry, fishing	0	0.0%
Total value added	250	100%

Employment

Unemployment rate: 2.8% in 2013⁷

Employment by Industry 2013⁸

Employment sector	Employees (thousands) 2013	Percent of total
Wholesale trade, retail trade and repair of motor vehicles	302	14.7%
Public administration and defence	285	13.9%
Manufacturing	280	13.6%
Transportation and storage	193	9.4%
Finance and insurance	148	7.2%
Professional, scientific and technical	143	6.9%
Accommodation and food service	135	6.6%
Construction	102	5.0%
Administrative and support service	100	4.8%
Human health and social work	95	4.6%
Information and communication	92	4.5%
Other service	69	3.4%
Real estate	49	2.4%
Arts, entertainment and recreation	37	1.8%
Not elsewhere classified	27	1.3%
Total employment	2,056	100%

Corporations

Top 2 Corporations by Revenue 2013* ⁹

Rank	Corporation	Revenue ($ billions) 2013	Profit ($ billions) 2013	Assets ($ billions) 12/31/13	Industry
1	Wilmar International	41	1.2	44	Agribusiness
2	Flextronics International	22	0.3	10	Electronic manufacturing

* Corporate data calculated using the exchange rate 1.34 SGD = 1 USD

Households

Household Wealth: $1.16 trillion (26% of GDP) in 2014¹⁰

Household Wealth per Adult: $289,902 in 2014¹⁰

Gini Coefficient: .463 in 2013¹¹

Government

Central Government

Central Government Revenue: $45 billion (15% of GDP) in 2013¹²

Central Government Expenditure: $42 billion (14% of GDP) in 2013¹²

Central Government Budget Balance: +$3 billion (+1% of GDP) in 2013¹²

Central Government Public Debt: $287 billion (96% of GDP) in Q3 2014* ¹³

Central Government 10 Year Bond Interest Rate: 1.86% on Jan 26, 2015¹⁴

* Public debt calculated using the exchange rate 1.34 SGD = 1 USD

Government Funds

GIC: $315 billion (106% of GDP) in 2014¹⁵

Temasek Holdings: $215 billion (72% of GDP) in 2014¹⁵

Tax Structure

Individual Income Tax Rates and Thresholds in 2013* ¹⁶

0%: $0-$14,925
2%: $14,926-$22,388
3.5%: $22,389-$29,850
7%: $29,851-$59,701
11.5%: $59,702-$89,553
15%: $89,554-$119,402
17%: $119,402-$149,253
18%: $149,254-$238,806
20%: $238,806+

Corporate Tax Rate: 17% in 2014¹⁷

* Individual thresholds calculated using the exchange rate 1.34 SGD = 1 USD

Monetary Policy

Money Supply (M1): $120 billion (40% of GDP) in Oct 2014* ¹⁸

Benchmark Interest Rate: 3 Month SIBOR = 0.63% on JAn 11, 2015¹⁹

Total Reserves: $278 billion (93% of GDP) in 2013²⁰

Exchange Rate: 1.34 Singapore Dollars = 1 U.S. Dollar²¹

Inflation: 2.4% in 2013²²

* Money supply calculated using the exchange rate 1.34 SGD = 1 USD

Financial Institutions

Top 3 Financial Institutions by Assets 2014²³

Rank	Financial Institution	Assets ($ billions) Mar 2014*
1	DBS Group	312
2	Oversea-Chinese Bank	256
3	United Overseas Bank	221

* Assets calculated using the exchange rate 1.34 SGD = 1 USD

International Accounts

Exports: $410 billion (137% of GDP) in 2013²⁴

Imports: $373 billion (125% of GDP) in 2013²⁴

Trade Balance: +$37 billion (+12% of GDP) in 2013²⁴

Foreign Direct Investment Inflow: $63 billion (21% of GDP) in 2013²⁵

Foreign Direct Investment Outflow: N/A

Foreign Aid Inflow: N/A

Foreign Aid Outflow: N/A

References