Singapore is a city-state in Southeast Asia. Founded as a British trading colony in 1819, since independence it has become one of the world's most prosperous countries and boasts the world's busiest port. Combining the skyscrapers and subways of a modern, affluent city with a medley of Chinese, Malay and Indian influences and a tropical climate, with tasty food, good shopping, and a vibrant night-life scene, this Garden City makes a great stopover or springboard into the region. Singapore is one of the most popular travel destinations in the world for a lot of reasons. One of which is the less stringent entry requirements. Singapore is a small island country. With a population size of over 5.5 million people, it is a very crowded city, second only to Monaco as the world's most densely populated country. Singapore is a microcosm of Asia, populated by Malays, Chinese, Indians, and a large group of workers and expatriates from across the globe.
Singapore is a thriving financial center of international repute, serving its domestic economy, the wider Asia Pacific region, and the world. The financial services accounted for 11.6% of Singapore's gross domestic product in 2003, while employing just 5% of the country's population, making it the highest value-added service industry in Singapore. The various critical factors supporting Singapore’s development as an international financial center are a pro-business environment, sound economic fundamentals, a strong regulatory and supervisory framework, excellent infrastructure, and a highly skilled cosmopolitan workforce. Many of the world’s largest and most reputable financial institutions can be found in Singapore, adding to the diversity, size, and depth of Singapore’s financial sector that includes banking, the Asian dollar market, foreign exchange market, bond market, equity/derivatives markets, asset management, and insurance. Singapore’s banking system is among the strongest in the world. The banking sector is engaged in a wide range of financial services including traditional lending and deposit-taking functions as well as corporate and investment banking activities. As at March 2005, there were 110 commercial banks, 47 merchant banks and 3 financial companies in the financial sector, with the total assets of commercial banks standing at S$413 billion. 6 banks have been awarded Qualifying Full Bank Licenses.
|Agriculture||Mushrooms, durians, rambutans, and mangosteens.|
|Manufacture||Electronic goods, canned foods, coffee, semiconductors.|
|Services (Including financial)||73.4% (2016 EST.)|
|Charles & Keith||Retail|
|Bee Cheng Hiang||Food|
|Fraser and Neave||Food|
The Stock Exchange of Singapore (SES) was a stock exchange company in Singapore. It was formed in 1973, when the termination of currency interchangeability between Malaysia and Singapore, caused the Stock Exchange of Malaysia and Singapore (SEMS) to separate into the SES and Kuala Lumpur Stock Exchange Bhd (KLSEB). It merged with the Singapore International Monetary Exchange (SIMEX) on 1 December 1999, to form the Singapore Exchange (SGX).
When the global financial crisis hit in 2008, Singapore's trade-geared economy was the first in Asia to fall into recession and it recorded negative growth the following year. Now, as Europe and the United States teeter towards a possible double-dip recession, the island nation is bracing for possible hard economic times. A weakening global economy caused Singapore's GDP to contract in the second quarter, shrinking 6.5% on a seasonally adjusted quarter-on-quarter annualized basis. That marked a sharp reversal of the 27.2% quarter-on-quarter growth recorded in the first quarter. The stock market, meanwhile, has tumbled in response to the bad global economy. Between August 1 and 10, some S$105 billion (US$86.5 billion) was wiped off the Singapore bourse. While some people believed that this situation would get better in years, some group wasn’t that optimistic. Citigroup has cut its full-year GDP forecast to 5.7%, down from 7% initially, and hinted at the risk of a technical recession. Singapore faces renewed economic turbulence in a new, potentially more destabilizing political environment. It is early to say whether Singapore can survive this crisis as PAP has passed a series of policies to address grassroots complaints about the island state's growing reliance on foreign labor and the rising cost of living.
In the late 14th century, Singapura was under the rule of Parameswara until he was expelled by the Majapahit or the Siamese. It then came under the Malacca Sultanate and then the Johor Sultanate. Modern Singapore was founded in 1819, when Sir Thomas Stamford Raffles negotiated a treaty whereby Johor allowed the British to find a trading port on the island. During World War II, Singapore was conquered and occupied by the Japanese Empire from 1942 to 1945. When the war ended, Singapore reverted to British control, with increasing levels of self-government being granted, culminating in Singapore's merger with the Federation of Malaya to form Malaysia in 1963. However, social unrest and disputes between Singapore's ruling People's Action Party and Malaysia's Alliance Party resulted in Singapore's expulsion from Malaysia. Singapore became an independent republic on August 9, 1965. Facing severe unemployment and a housing crisis, Singapore embarked on a modernization programme beginning in the late 1960s through the 1970s that focused on establishing a manufacturing industry, developing large public housing estates and investing heavily on public education. By 1990, the country had become one of the world's most prosperous nations, with a highly developed free market economy, strong international trading links, and the highest per capita gross domestic product in Asia outside Japan.
Tony Tan Keng Yam
Lee Hsien Loong
Harry Lee Kuan Yew
(Founder of modern Singapore)
The Singapore dollar (code: SGD) is the official currency of Singapore. It is divided into 100 cents. It is normally abbreviated with the dollar sign $, or S$ to distinguish it from other dollar-denominated currencies. The Monetary Authority of Singapore issues the banknotes and coins of the Singapore dollar. As of 2016, the Singapore dollar is the twelfth most traded currency in the world by value. Apart from its use in Singapore, the Singapore dollar is also accepted as "customary tender" in Brunei according to the Currency Interchangeability Agreement between the Monetary Authority of Singapore and the Monetary Authority of Brunei Darussalam. Likewise, the Brunei dollar is also "customarily accepted" in Singapore. In 1967, the first series of coins was introduced in denominations 1, 5, 10, 20 and 50 cents and 1 dollar. These coins depicted wildlife and other images relating to the island nation. The sizes were the same as those used for the Malaysian ringgit and based directly off the old coinage of the former Malaya and British Borneo dollar. The 1 cent was bronze while the other denominations were copper-nickel. Later, in 1976 the 1 cent was changed to copper-clad steel. The production of the first series was phased out by 1985.
|National Song||"Majulah Singapura"|
|Currency||Singapore dollar (SGD)|
|Languages||English, Malay, Mandarin, Tamil|
|GDP / GDP Rank||$492.6 Billion USD|
|GDP Growth Rate||2.0 percent|
|GDP Per Captial||$87855.4 (PPP)|
18.5% No religion
President- Halimah Yacob
Prime Minister- Lee Hsien Loong
Deputy Prime Ministers- Teo Chee Hean Tharman
|Website||Go to the web|
|Public Debt||112 percent of GDP|
|Unemployment Rate||1.8 percent|
|Labor Force (Occupation)||-|