Brief about Country

History
The British, who were extending their dominion in India, and whose trade with China in the second half of the 18th century was expanding, saw the need for a port of call in this region to refit, revitalise and protect their merchant fleet, as well as to forestall any advance by the Dutch in the East Indies. As a result, they established trading posts in Penang (1786) and Singapore (1819), and captured Malacca from the Dutch (1795). After gaining independence abruptly in 1965, Singapore faced a future filled with uncertainties. Singapore faced the dangers of attack by the Indonesian military and forcible re-integration into the Malaysia Federation on unfavourable terms. Singapore was separated from the rest of Malaysia on 9 August 1965, and became a sovereign, democratic and independent nation. Independent Singapore was admitted to the United Nations on 21 September 1965, and became a member of the Commonwealth of Nations on 15 October 1965. On 22 December 1965, it became a republic, with Yusof bin Ishak as the republic's first President. In 1968 government was able to pass stricter labor legislation and thus help overcome the nations reputation for frequent labor disputes and strikes. During 31 years of Leadership by Prime Minister Lee Kuan Yew Singapore experienced steady economic growth and diversification during his tenure. . Along with Hong Kong, South Korea, and Taiwan, it was called one of the Four Tigers of Asian economic prosperity. Former British naval base workers were retrained to work in what became the Sembawang Shipyard, and eventually a major shipbuilding and ship repair centre. By the 1970s, Singapore had achieved status as a world leader in shipping, air transport, and oil refining. No longer was Singapore as dependent on peninsular Malaysia for its economic prosperity, but the country was criticized internationally during the 1980s and 1990s for severe treatment of political dissidents and a harsh system of justice. Further economic success continued through the 1980s, with the unemployment rate falling to 3% and real GDP growth averaging at about 8% up until 1999. Labor-intensive industries were relocated to other ASEAN nations and were replaced by high-technology industries and services. Singapore Changi Airport was opened in 1981 and Singapore Airlines was developed to become a major airline.[56] The Port of Singapore became one of the world's busiest ports and the service and tourism industries also grew immensely during this period. Singapore emerged as an important transportation hub and a major tourist destination. The Asian economic crisis of 199798 was not the major setback for Singapore that it was for other Southeast Asian nations; the regional economic downturn did bring fluctuating growth rates to Singapore but no serious problems. Except for oil-rich Brunei, Singapore remained the most prosperous nation in the region.

Less than 5% of Singapore's land is used for agriculture. Tropical fruits, orchids, and vegetables are intensively cultivated; rubber and copra are produced; and poultry, hogs, and tropical fish are raised. There are no exploitable natural resources in the country. Its power is produced by thermoelectric plants, and water is supplied by a number of reservoirs. Singapore has a fine rapid transit system, good roads, and a railroad that crosses the island, and a causeway carrying road and rail traffic to the mainland. Singapore's workforce is employed primarily in manufacturing, in the service industries, and in commerce, with a negligible proportion engaged in agriculture. The country has become a major centre of international finance in recent decades. The increasing importance of China in manufacturing and finance, however, is seen as a threat to Singapore's future economic growth, and the nation has sought to develop its tourism industry. Singapore is one of the world's greatest commercial centres, with a large, modern port. Commerce has historically been the chief source of income. For many years the largest importer in Southeast Asia, Singapore is a free port and an entrept that reexports more than half of what it imports, notably rubber, petroleum, textiles, timber, and tin. It also exports locally manufactured goods such as computers and telecommunications equipment, petroleum products, oil drilling equipment, plastics, rubber products, and processed food and beverages. The country imports most of its food. Singapore's chief trading partners are Malaysia, the United States, China, Japan, and Indonesia. With more than 300 factories and deepwater wharves, the Jurong Industrial Estate is Southeast Asia's largest industrial complex. It and the Changi International Airport are built largely on infill of marsh and shallow waters of the straits. The country has a number of large petroleum storage and refining facilities, and Keppel Harbor is one of the world's largest container-handling facilities.

- Geography
The Republic of Singapore consists of the main island of Singapore and 58 nearby islands lying just north of the equator and located between the Indian Ocean and the South China Sea, Singapore is situated at the convergence of some of the world's major sea-lanes. It is made up of the main island, which is 42 kilometres long by 23 kilometres wide, and 63 surrounding islets. The highest point is 163 metres at Bukit Timah Peak. Singapore has a total area of approximately 714 square kilometres. It is separated from Indonesia to the south by the Singapore Strait and from Malaysia to the north by the Johore Strait. Singapore's equatorial climate is warm and humid, with an average daytime temperature of 31C and a minimum average of 23 C at night.

The country receives an average of 2.3 metres of rain annually, and has two annual monsoon seasons from December to early March and from June to September.

- Overall Society
The total population of Singapore is 5.312 million (2012 data) of whom 3.28 million are citizens while the rest are permanent residents or foreigner nationals (approximately 1.4 million). As a city-state, Singapore is one of the world's most densely populated countries with about 12,000 people per sq mi (about 4,600 people per sq km). A massive urban renewal program, begun in the 1960s, has replaced virtually all of Singapore's slums with modern housing units. As a result of family planning and a strict immigration policy, the annual rate of population increase has declined to just over 1%, down from 4.5% in the 1950s. The three major ethnic groups within the local community are Chinese (74 per cent), Malay (13 per cent) and Indians (9 per cent). Singapore has four official languages: Chinese (Mandarin), English, Malay and Tamil. English is the language of administration and commerce and is widely spoken across the island.

Political Situation and Any big issues

Economy with all its economic indicators

- Overall Economy

Overall Economy GDP Per Capita GNI

$M yoy% $

2009 2010 2011 2012 2,74,655 3,15,921 3,34,093 3,45,561 1.9 15 5.8 3.4 52,118 61,928 63,921 64,310

- Labour Market
Labour Market Net Job Creation Employment (As at Year-End) Unemployment Rate (Average) Labour Productivity Unit Business Cost of Manufacturing Unit Labour Cost of Manufacturing 1 thous thous % yoy% 2005=100 yoy% 2005=100 yoy% 2009 37.6 2,990 3 -3.4 107.9 -5.4 109.3 -4.2 2010 115.9 3,106 2.2 11.1 103 -4.5 92.1 -15.8 2011 122.6 3,229 2 1.3 105.8 2.7 90.5 -1.7 2012 129.6 3,358 2 -2.6 110.1 4 93.4 3.2

- Industry Composition
STRUCTURE OF ECONOMY TOTAL Goods Producing Industries Manufacturing Construction Utilities Other Goods Industries Services Producing Industries Wholesale & Retail Trade Transportation & Storage Accommodation & Food Services Information & Communications Finance & Insurance Business Services Other Services Industries Ownership of Dwellings Nominal Value Real Growth Added (% Share) (% Share) 100 1.3 26.8 1.2 20.7 0.1 4.4 8.2 1.6 3.4 0 1.2 68.5 1.2 17 -0.7 7.7 2.7 2.5 2.8 3.8 2.6 11.9 0.5 14.6 3.9 11 0.1 4.8 0.7

SECTORAL BREAKDOWN Nominal Value Added (% Share) 100 25 7.9 25.5 14.6 15.7 11.3 Real Growth (% Share) 0.1 -11.3 -0.4 9.9 1.3 11.2 2

MANUFACTURING Manufacturing Electronics Chemicals Biomedical Manufacturing Precision Engineering Transport Engineering General Manufacturing Industries

TRANSPORTATION & STORAGE Transportation & Storage Land Transport* Water Transport* Air Transport* Storage & Other Support Services Post & Courier

Nominal Value Added (% Real Growth Share) (% Share) 100 2.7 18.9 2.3 39.8 2.2 22.6 6.4 15.8 2.8 -1.3 5.5

- Inflation Rate
Year 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 Inflation 8.531 8.186 3.92 1.034 2.607 0.491 -1.379 0.481 1.524 2.294 3.45 Year 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 Inflation 3.419 2.265 2.29 3.095 1.725 1.379 2.023 -0.271 0.024 1.348 1.014 Year 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Inflation -0.39 0.487 1.671 0.473 0.973 2.096 6.612 0.589 2.823 5.2 4.6

Inflation
9 8 7 6 5 4 3 2 1 0 Inflation

1984

1980

1982

1986

1988

1990

1992

1994

1996

1998

2000

2002

2004

2006

2008

2010

-1 -2

2012

- Export & Import

EXTERNAL TRADE TOP 10 EXPORTS Petroleum Products Refined Electronic Valves Telecommunications Equipment Parts and Accessories Data Processing Machines Specialised Machinery Electrical Circuit Apparatus Measuring Equipment Electrical Machinery Organo-Inorganic Compounds Total Exports % Share 25.1 20 2.9 2.9 2.3 1.9 1.7 1.7 1.6 1.6 100 % Growth -4.9 -2.6 0.9 -14.3 10.7 9 1.3 9.4 -1.4 -13.5 -0.9

TOP 10 IMPORTS Petroleum Products Refined Electronic Valves Petroleum Crude Telecommunications Equipment Aircraft & Associated Equipment Parts and Accessories Data Processing Machines Non-electric Engines & Motors Natural Gas Civil Engineering Equipment Parts Total Imports

% Share % Growth 20.4 -4.3 15.4 4.3 10.5 18.1 3.5 -1.1 2.1 26.5 2.1 -8.5 1.8 7.3 1.7 16.3 1.6 24.6 1.6 100 6.2 3.2

- Major Commodities

- Trade / Trade Deficit / Forex Reserves

Trade Exports Domestic Exports Non-Oil Domestic Exports Re-Exports Imports 2009 3,91,118 -18 2,00,003 -19.2 1,41,348 -10.6 1,91,115 -16.6 3,56,299 -21 2010 4,78,841 22.4 2,48,610 24.3 1,73,599 22.8 2,30,231 20.5 4,23,222 18.8 2011 5,14,741 7.5 2,81,350 13.2 1,77,396 2.2 2,33,392 1.4 4,59,655 8.6 2012 5,10,329 -0.9 2,85,147 1.3 1,78,333 0.5 2,25,183 -3.5 4,74,554 3.2

$m yoy% $m yoy% $m yoy% $m yoy% $m yoy%

Balance of Payments Overall Balance Current Account Balance Capital and Financial Account Balance Official Foreign Reserves

$m $m $m $m

2009 16,456 48,700 -35,737

2010 57,481 84,572 -30,506

2011 21,488 82,162 -55,600

2012 32,606 64,280 -35,586

2,63,955 2,88,954 3,08,403 3,16,744

- Budget Surplus / Deficit

Overall Budget Balance
Revised FY2011 $billion Estimated FY2012 $billion 53.08 50.28 2.8 Change over Revised FY2011 $billion 2.55 2.74 % change 5.1 5.8

OPERATING REVENUE
Less:

50.53 47.54 2.99

TOTAL EXPENDITURE PRIMARY SURPLUS / DEFICIT1

Less:

SPECIAL TRANSFERS2 Special Transfers Excluding Top-ups to Endowment and Trust Funds BASIC SURPLUS / DEFICIT3 Top-ups to Endowment and Trust Funds
Add: NET INVESTMENT RETURNS CONTRIBUTION OVERALL BUDGET SURPLUS / DEFICIT

8.58 3.08

8.86 1.46

0.28

3.2

-0.09 5.5 7.91 2.32

1.34 7.4 7.33 1.27 -0.58 -7.4

Legal Scenario Technological advancement Growth Story Trade related other points SWOT Analysis

http://www.dfat.gov.au/geo/singapore/singapore_country_brief.html http://www.nationsonline.org/oneworld/History/Singapore-history.htm http://www.infoplease.com/encyclopedia/world/singapore-land.html http://www.infoplease.com/encyclopedia/world/singapore-economy.html http://www.singaporeexpats.com/about-singapore/brief-history.htm