Ludwig von Mises Institute

Singapore

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Country summary

Capital

Singapore

Borders

(N/A)

Government type

parliamentary republic

Population

4,657,542 (July 2010 est.)[1]

Population growth

0.998% (2010 est.)[1]

Life expectancy

81.98 years[1]

Unemployment

3% (2009 est.)[1]

Index of Economic Freedom

2[2]

Corruption Perceptions Index

3[3]

Doing Business ranking

1[4]


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.[1]

Economical characteristics[edit]

  • Currency: Singapore dollar (ISO code: SGD)
  • Central bank discount rate: [1]
  • Commercial banks lending rate: 5.38% (31 December 2009 est.)[1]
  • Stock of money (M1): $52.57 billion (31 December 2008)[1]
  • Quasi money (with M1 makes M2): $179 billion (31 December 2008)[1]

Notable events:[edit]

Statistics[edit]

Statistic / Year 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
GDP (million USD)[7] 82 611 92 717 85 655 88 332 93 206 109 664 120 942 139 177 166 950 181 948
Govt. debt (% of GDP)[8] 91.771 86.881 98.475 111.397 113.763 106.758 100.349 88.462 83.752 102.598
Govt. revenue (% of GDP)[9] 28.803 26.612 25.525 22.192 20.351 19.701 19.205 19.113 20.864 21.725
Govt. expenses (% of GDP)[10] 15.430 16.286 19.047 16.915 16.696 15.096 13.308 13.943 13.167 15.436
Debt to revenue (years) 3.186 3.265 3.858 5.020 5.590 5.419 5.225 4.628 4.014 4.723

References[edit]

Note: statistical data was rounded. Different sources may use different methodologies for their estimates. Debt to revenue is calculated by dividing the two variables from their original ('unrounded') values. It represents how long it would a government take to repay its entire debt if it used its whole revenue for this purpose.

  1. ↑ 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 CIA - The World Factbook. "Singapore", from The World Factbook. Referenced 2010-09-30.
  2. ↑ Heritage Foundation. "Singapore", Economic Freedom Score. A lower ranking is better; but please be careful when comparing between different countries or years. Referenced 2010-09-30.
  3. ↑ Transparency International. "Singapore", Corruption Perceptions Index 2009. A lower ranking is better; but please note that the numbers cannot be compared between countries or years due to different methodology. Referenced 2010-09-30.
  4. ↑ Doing Business. "Singapore", Doing Business 2010 (part of The World Bank Group). A lower ranking is better; but please be careful when comparing between different countries or years. Referenced 2010-09-30.
  5. ↑ Carmen M. Reinhart and Kenneth S. Rogoff. "This Time is Different", Princeton University Press, ISBN 978-0-691-14216-6, p. 381. (The list does not claim to be complete.) Referenced 2011-07-21.
  6. ↑ Carmen M. Reinhart. "This Time is Different Chartbook: Country Histories on Debt, Default, and Financial Crises" (pdf), March 3, 2010, p. 98. (The list does not claim to be complete.) Referenced 2011-07-21.
  7. ↑ World Bank. "Singapore: GDP", from World Bank Data. Referenced 2010-09-30.
  8. ↑ World Bank. "Singapore: government debt", from World Bank Data. Referenced 2010-09-30.
  9. ↑ World Bank. "Singapore: government revenue", from World Bank Data. Referenced 2010-09-30.
  10. ↑ World Bank. "Singapore: government expenses", from World Bank Data. Referenced 2010-09-30.

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