English, Mandarin, other Chinese dialects, Cantonese, Teochew, Hakka) 8.7, Malay, Tamil, other 1.4
Economic Overview
Key economic indicators for Singapore
GDP:
$754.758 billion
GDP per Capita:
$127,500
GDP Growth:
1.08%
Inflation:
4.82%
Unemployment:
3.47%
Public Debt:
150.14% of GDP
Credit Rating:
AAA (1995)
Political System
Governance structure of Singapore
Government Type:
parliamentary republic
Head of State:
President THARMAN Shanmugaratnam (since 14 September 2023)
Head of Government:
Prime Minister Lawrence WONG (since 15 May 2024)
Judiciary:
Supreme Court (although the number of judges varies - as of April 2019, the court totaled 20 judges, 7 judicial commissioners, 4 judges of appeal, and 16 international judges); the court is organized into an upper tier Appeal Court and a lower tier High Court
Administrative Divisions:
no first order administrative divisions; there are five community development councils: Central Singapore Development Council, North East Development Council, North West Development Council, South East Development Council, South West Development Council (2019)
Major Political Parties
Not specified
International Relations
Global position and alliances
UN Member:
Yes
EU Member:
No
Diplomatic Presence:
3501 International Place NW, Washington, DC 20008
Major Alliances and Organizations
ASEAN
Economic Sectors & Trade
Detailed economic breakdown
Major Economic Sectors
Agriculture
0% (2023 est.)
Industry
22.4% (2023 est.)
Services
72.4% (2023 est.)note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data
Trade Volume
Exports:
$873.989 billion
Imports:
$686.656 billion
Major Trading Partners
Hong Kong 13
China 11
USA 10
Malaysia 9
S. Korea 6
Economic Outlook
Singapore has a 1.08% GDP growth rate with 4.82% inflation. The economy is characterized by a strong agriculture sector.