ECONOMIC HISTORY

PRE-INDEPENDENCE
- SINGAPORE AS A TRADING POST
- DISEASE SWEEPS THROUGH NUTMEG PLANTATIONS The nutmeg dream was soon
tempered by a disease that first made its appearance in the 1840s. The "nutmeg
canker" disease caused the nutmeg fruits to wither before they ripened. By the end of
the 1850s, its scourge had spread to every plantation,[6] with "ruin staring the
proprietors of the plantation in the face".[7] By 1862, the cultivation of nutmeg had
ceased.
- BOWRING TREATY SIGNED WITH BANGKOK The missions had commercial intentions
as the founding of Singapore gave new stimulus to British trade in Southeast Asia. On
18 April 1855, Sir John Bowring, then Governor of Hong Kong,[5] successfully
concluded a new treaty with Siam that was "of the most satisfactory character".[6] The
Bowring Treaty removed extensive barriers to British trade by ending the Siamese
state's trading monopolies. The liberal terms included a single duty on all imports and
exports, the abolition of prohibitive tonnage duties, freedom of trade between British
merchants and Siam citizens, and the removal of prohibitions on rice export. British
ships were also allowed to trade at all Siamese ports and on the same conditions as
Siamese and Chinese junks.[7]

The new treaty took effect on 6 April 1856.[8] The dramatic rise from this commercial
freedom was immediate. In 185657 alone, 145 British ships from Siam arrived at
Singapore.[9] The Bowring Treaty brought Siam into the Southeast Asian trading
networks and its benefits extended to Chinese merchants in Singapore.
- SUEZ CANAL The canal greatly reduced the time needed for vessels to sail from
Europe to Asia, as they did not have to make the long journey around the African
Cape.[2] The shorter travelling time, along with other factors such as the greater usage
of steamers rather than sailing ships, led to an increase in trade between Europe and
Asia.[3] This development could be seen in Singapores trade figures: total trade
volume reached $71 million in 1870, a year after the canal was opened, up from only
$39 million the year before. The trade boom would continue throughout the 1870s,
and by 1879, the colonys total trade volume was valued at $105 million.[4]
- Rubber trees planted.
- TRAMS, RAILWAYS ARE BEING PROPOSED AND MADE FOR EASE OF TRADING.
- BRITISH DOLLAR
- WORLD BANK ANNOUNCES MISSION TO SINGAPORE AND MALAYA World Bank
announced that it would send, at the joint request of Malaya, Singapore and the
United Kingdom, a mission comprising 13 members to Malaya and Singapore to study
the general economic conditions of the two countries.[1] The mission was tasked to
assess the resources available for future development plans, evaluate how these
could best contribute to the economic and social development of Malaya, and make
recommendations aimed at helping the two countries review their long-term
development programmes.[2] For the purpose of the study, the mission members
 travelled widely across Malaya and Singapore where they visited various organisations
and held discussions with both civil servants and private individuals.[4] After an
extensive three-month survey tapos nagrelease ng report and presented to the
governer of Singapore and maya. Malaya and a $610-million programme for
Singapore to be implemented during the period 19551959.[8] For Singapore, it was
proposed that the public programme focus on housing, public utilities and social
services, whereas for Malaya, the emphasis was on agriculture, public utilities and
social services (in decreasing order of importance). He is credited with recommending
an economic merger with Malaya; the industrialisation of Singapore; the building of
public housing; the development of the financial sector; and the establishment of
Singapore as an air and sea transport hub. (Albert Winsemius)
- BUY SINGAPORE-MADE GOODS CAMPAIGN The aims of the campaign were to change
public mindsets that domestically produced goods were inferior to imported ones,
and to support the small but growing manufacturing industry in Singapore through
encouraging people to buy locally produced goods. The eventual goal was to develop
the manufacturing sector in order to export Singapore-made products to the world.
Logo, Miss Chung Yun Oi . the overall response to the campaign was assessed as
lukewarm due to the general apathy of the public towards Singapore-produced
goods. Revived under PAP nung 1963. buying Singapore-made products to buying
quality products made in Singapore.[9] Government departments were urged by the
Finance Ministry to give preference to local products that met the standards or
specifications of the Singapore Institute of Standards and Industrial Research (SISIR).
Exhibition + The national publicity blitz also engaged students in the form of
excursions to local factories and various competitions essay, recipe, fashion and
logo design contests in which locally made products were given out as prizes. Radio
and Television Singapore helped to create awareness of the campaign through its
programmes and news, including a current affairs quiz show and the finals of the
annual National Day oratorical contest that focused on the Buy Singapore-made
theme.
- SINGAPORE INDUSTRIAL PROMOTION BOARD (Economic Development Board ngayon)
The main objective of the board, which comprised five members, was to drive the
industrial and economic development of Singapore. This was to be accomplished
through the following measures: financing, managing or establishing new industrial
ventures; developing programmes for improved organisation and efficiency, including
modernisation of operations; and research on the industrial potential of the colony.[4]
1 million dollars tapos nirequest na maging 10 M
- PRIMARY PRODUCTION DEPARTMENT - improve production by introducing new
methods of farming and fishing. he government announced the amalgamation of the
agriculture, co-operatives, fisheries, rural development and veterinary divisions.
- ENACTMENT OF THE FACTORIES ORDINANCE
The Factories Ordinance was a piece of legislation that sought to set minimum
standards for the health, safety and welfare of workers in factories
LEE KUAN YEW YEARS AS PM
ASEAN aug 1967
60s As a newly independent country in 1965 with no natural resources, Singapore as an
infant nation faced much uncertainty. Unemployment was one of the key issues that needed
to be resolved quickly in order to get the wheels of the Singapore economy moving. With a
GNP per capita of less than US$320, Singapore was a third-world nation with poor
infrastructure and limited capital. Low-end commerce was the mainstay of the economy and
the handful of industries that existed produced only for domestic consumption, leaving no
room for direct foreign investment.
70s By this decade, industrial development was surging ahead as EDB marketed Singapore to be a quick
operations start-up location where factories were built in advance of demand and a highly skilled
workforce was readily available.

Singapore's manufacturing industry evolved to become more sophisticated and included computer parts,
peripherals, software packages and silicon wafers.

80s Eventually, due to the governments adoption of a high-wage policy to accelerate the move away from
labour-intensive industries and the attraction to high-technology industries, wage bills swelled as the world
slipped into an economic slowdown and Singapore slid into a recession.

An Economic Committee, led by then Minister for Trade and Industry Mr. Lee Hsien Loong, then took a long hard
look at what was needed to restore Singapores competitiveness consequently recommending the introduction
of a flexi-wage system where pay hikes would be relative to a companys profitability. Another call the Committee
made was for EDB to promote all aspects of economic activity.

- INDUSTRIAL RELATIONS ORDINANCE fearing that industrial unrests would destabilise

the countrys industrialisation programme. One of the solutions proposed was the
Industrial Relations Bill to promote industrial relations through the standardisation of
collective bargaining, centralise conciliation in the Ministry of Labour, and set up the
Industrial Arbitration Court (IAC) for compulsory arbitration of irresolvable trade
disputes.[4] The IAC its constitutions, powers and functions dominated the process
of the bill.

- STATE DEVELOPMENT PLAN The plan was formulated as a means to solve the
pressing issues of economic stagnation and high unemployment rates through an
expansion in manufacturing. Its objective was twofold: first, to increase the national
income at a rate that matched the growth in population; second, to create jobs to
absorb the additions to the labour force due to a growing population and to alleviate
the prevailing levels of high unemployment. Creation of EDB. The plan was
formulated as a means to solve the pressing issues of economic stagnation and high
unemployment rates through an expansion in manufacturing. Its objective was
twofold: first, to increase the national income at a rate that matched the growth in
population; second, to create jobs to absorb the additions to the labour force due to a
growing population and to alleviate the prevailing levels of high unemployment.

- National iron and steel mill - r Singapore towards a broader-based economy, the
government applied for a United Nations (UN) steel mission to visit the country to
 study particular lines of industrial growth for Singapore.[1] Headed by French
industrialist P. L. Schereschewsky, the UN team arrived in Singapore in February 1961.
The team thoroughly studied a proposal to establish a S$600-million iron and steel
mill, and also worked out the basic programme for the development of the countrys
steel industry

- ECONOMIC DEVELOPMENT BOARD

SINGAPORE TOURIST PROMOTION BOARD (STB na) 15.2 million tourists more tourists but
less tourist dollars. However, spending among visitors fell by 6.8 per cent in 2015, as tourism
receipts reached S$22 billion, the preliminary estimates showed.
According to STB, the decline in tourism receipts was due to a fall in the number of business
visitors and meetings, incentives, conventions and exhibition (MICE) arrivals, which fell 6 per
cent, and lower per capita expenditure.
STB added that the growth of leisure visitor arrivals had helped to offset the lower business-
related visitor arrivals in 2015.

- PORT OF SINGAPORE AUTHORITY by 1988 the first worlds busiest shipping port but
now the second to china

- SINGAPORE JOINS IMF, WORLD BANK AND ADB - Singapore became the 104th
member of the International Monetary Fund (IMF) and the World Bank on 3 August
1966.[1] Singapore had sought out the two institutions for financial advice and loans
prior to its application for membership. After the political separation between
Singapore and Malaysia in August 1965, both countries wooed the IMF for its
technical and brokering expertise in the subsequent negotiations over the adoption of
a common currency and banking system. Despite the breakdown in negotiations and
the decision to issue separate currencies, Singapore highly valued the two IMF
missions sent to reconcile the wishes of the two governments.[2] Singapore had also
previously benefitted from loans provided by the World Bank for two major projects.

Singapores proposed grants to the IMF are specific to the Poverty Reduction and Growth
Trust (PRGT) and Catastrophe Containment and Relief Trust (CCRT), and cannot be
unilaterally diverted to other IMF initiatives," said a spokesperson. "The IMF will require
member countries consent for any transfer of their grant monies to other initiatives. MAS
will consider the request and any future grant to the IMF will require Parliaments approval."
The Monetary Authority of Singapore today announced that Singapore has maintained its
current US$4 billion loan commitment to the International Monetary Fund (IMF) until end
2020, as part of the US$340 billion committed by 25 IMF member countries to safeguard
global economic and financial stability during the period.

That transformation from a borrower of the World Bank for infrastructure investment to
an international financial centre and trading hub is a major reason why the World Bank
Group is expanding its Singapore office to create its first Infrastructure and Urban
Development Hub.

The choice of Singapore for the World Bank Groups hub that focuses on infrastructure and
urban development is based on three factors: Singapores unique role as a regional business
and trade center, its strong position in world capital markets, and its remarkable
development history.

Singapore has contributed $485.57 million to ADB in capital subscription as of 31 December

2016. It has contributed and committed $24.69 million to Special Funds since joining in 1966.

- BOARD OF COMMISSIONERS OF CURRENCY

- SINGAPORE ISSUES ITS FIRST CURRENCY issue of separate currencies. Singapores

pioneer note series consisted of notes in denominations of $1, $5, $10, $50, $100 and
$1,000, with the front of each note bearing the motif of an orchid hybrid.[11] The
native orchid reflected Singapores sense of independence and symbolised progress
and multiculturalism. Each note also incorporated Singapores coat of arms, a lion
head watermark and Lim Kim Sans signature as he was then the Minister for Finance
and chairman of the BCCS, along with the necessary security features.[12] The reverse
side of each note bore elements of Singapores national identity, including four
clasped hands representing multiracial harmony, scenes of the Singapore River and
harbour as a reminder of Singapores beginnings as a seaport, as well as flats in
housing estates to symbolise development and prosperity for all citizens.

- INDUSTRIAL RELATIONS (AMENDMENT) ACT

- ENACTMENT OF THE EMPLOYMENT

- REDEVELOPMENT OF GOLDEN SHOE

- BANKING ACT

- MONETARY AUTHORITY OF SINGAPORE

- SINGAPORE AIRLINES number one airport.. changi. From Malayan airways nagin
Malaysia-singapore airlines hanggang nagsplit. SIA and Malaysia Airline system

- NATIONAL WAGES COUNCIL

- SINGAPORE ACCEDES TO GATT - held in Tokyo, Japan, from 12 to 14 September 1973.

As GATTs 83rdandnewest member, Singaporewas given tariff concessions as part of
membership privileges. Hon Sui Sen, then Minister for Finance, For Singapore and
many countries, gaining membership into GATT ensured access to key international
 markets. The Tokyo round marked Singapores first direct involvement in multilateral
trade negotiations (MTN).[4

- STOCK EXCHANGE OF SINGAPORE LTD hiwalay na from Malaysia

- ASSOCIATION OF BANKS

- MINISTRY OF TRADE AND INDUSTRY

- TOURISM TASK FORCE For Singapore and many countries, gaining membership into
GATT ensured access to key international markets. The Tokyo round marked
Singapores first direct involvement in multilateral trade negotiations (MTN).[4

1985-FIRST POST INDEPENDENCE RECESSION Prior to the economic decline, Singapore had
been enjoying a continuous GDP growth of 8.5 percent per year.[2] Early warning signs of a
slowing economy were already evident in 1984, but a booming construction industry
bolstered the overall numbers. By the end of 1984, the construction market had become
saturated and few projects were in the pipeline for completion.[3] Singapore was headed
towards a recession. By the second quarter of 1985, Singapore posted a growth rate of -1.4
percent, which dropped to -3.5 percent in the third quarter. The sharp and sudden downturn
took many by surprise.[4] Amid news of companies going bankrupt and the retrenchment of
workers, Singapores unemployment figure rose to 4.1 percent in June 1985 from 2.9
percent in the previous four years. The recession in Singapore was caused by a combination
of both external and internal factors. There were a number of external factors. First, the
economies of industrialised nations were slowing down, in particular the United
States.[6]Second, Singapore was also experiencing decreased demand for its goods and
services because regional countries were trading directly, bypassing Singapore as an
entrept. To make matters worse, Indonesia, Thailand and the Philippines had implemented
exit taxes, and Malaysia introduced a 50 percent tax on goods bought from Singapore by
residents.[7] Third, the situation was further aggravated by poor performances from
Singapores key industries in oil refining and shipbuilding and repair due to the entry of new
competitors.[8]

Internally, the high operating costs attributed to high wages and rentals made Singapore less
competitive in the global market, as there was no corresponding increase in productivity. The
construction slump, high domestic savings rate and rigidity in the economy further weakened
the economy.[9]

To beat the recession, the government introduced a slew of cost-cutting measures such as
reductions in employer contributions to the Central Provident Fund and Skills Development
Fund; wage restraint for two years; rebates on personal, corporate and property taxes as well
as government fees; and loans with lower interest rates. Public development spending was
increased and a venture capital fund was set up. The government also adopted a policy of
privatisation and deregulation to establish the private sector as the new driver for economic
growth.[10] The Singapore economy made a swift recovery in mid-1986. By the second quarter
of that year, Singapore posted a growth of 1.2 percent, which increased to 3.8 percent in the
third quarter.[12] The recession was the first test for the second-generation leaders led by Goh
Chok Tong, who was appointed First Deputy Prime Minister after the 1984 parliamentary
general election.
PAN ELECTRIC CRISIS HIT STOCK MARKET - The companys collapse resulted in the closure of
the Singapore and Kuala Lumpur stock exchanges from 2 to 4 December 1985 in order to
contain the fallout on heavily leveraged stockbroking firms.[4] This marked the first and only
time that the Singapore stock exchange had closed due to a trading emergency.[5] The move
sent shock waves across markets in the region.[6] Share prices plummeted, investor
confidence was shaken and Singapores image as a financial centre took a beating.[7]

The Pan-Electric crisis led to a tightening of the regulatory framework on securities. It paved
the way for new regulations to be introduced, including amendments to the Securities
Industry Act. The act provided a framework to regulate the stockbroking industry, curb share
speculation, and institute greater transparency in reporting by listed companies.
APEC -
The Asia-Pacific Economic Cooperation (APEC), which is an inter-governmental grouping, was
established in November 1989 to facilitate trade and economic cooperation within the Asia-
Pacific community.[1] Singapore is one of the 12 founding members of APEC.[2] The number of
members has since increased to 21 as at 2013.[3] APEC operates on the basis of non-binding
commitments and open dialogue. Decisions made within APEC are reached by consensus and
commitments are undertaken on a voluntary basis
AFTA - the ASEAN Free Trade Area (AFTA) is a trade bloc agreement among the six original members of the
Association of Southeast Asian Nations (ASEAN) Brunei, Indonesia, Malaysia, the Philippines, Singapore and
Thailand. Taking effect from January 1993, this scheme would gradually reduce tariffs on capital goods,
manufactured products and processed agricultural goods. PM GOH CHOK TONG. Singapore was one of the first
ASEAN countries to fulfil its AFTA commitment by lifting import tariffs on the goods listed under the CEPT
scheme.

POST PRIME MINISTER LEE KUAN YEW

90s shift to service sector: The 1990s saw companies moving up the value chain and intensifying their use of
technology while the service sector became the engine for growth. EDB shifted its focus from manufacturing to
strengthen the new key industries, namely chemicals, electronics and engineering. It also began leveraging its
leadership in these industries to develop biomedical sciences; an area that included the pharmaceutical
biotechnology and medical technology sectors.

This helped Singapores economic structure become more diversified and balanced, resulting in the city hosting a
wide range of businesses particularly in higher value-added activities. It also started welcoming talent from
around the world to augment the local skill pool and subsequently, become a hub of skilled manpower and
headquarters for decision-making.

INTRODUCTION OF THE GOODS AND SERVICES TAX

TOURISM 21 - The strategic thrust of developing tourism as an industry was to develop Singapore into a
tourism business centre where tourism entrepreneurs of the world could converge. To work towards this, the
creation of a more conducive business and investment environment as well as training up a competent workforce
to facilitate the growth of the tourism sector, was recommended. ITS IMPLEMENTATION PERIOD AY
KASABAY NUNG ASIAN FINANCIAL CRISIS. Singapores total visitor arrivals jumped from 7.3 million in 1996 to
7.7 million in 2000.[10] Tourism receipts, however, declined from S$11.4 billion to S$10.4 billion during the same
period.

ASIAN FINANCIAL CRISIS ( JULY 1997) - caused a number of Asian countries to experience a sharp decline
in the values of their currencies, stock markets and other asset prices. The crisis began in Thailand as a result of
intense speculation that the baht was over-valued.[3] In a bid to devalue the baht, the Thai government floated the
currency on 2 July 1997, which immediately fell in value by 15 percent.[4] The contagion soon spread rapidly to
other Asian countries, which were vulnerable to an erosion of competitiveness after the devaluation of the
baht.[5] The countries most affected by the crisis were Indonesia, South Korea, Malaysia, Thailand and the
Philippines.[6] Despite distress in the region, Singapore weathered the effects of the financial crisis better than its
neighbours. Although the stock and property markets took a beating, the economy performed well under the
circumstances.[11] Nonetheless, the increase in Singapore's GDP growth for 1998 was 1.5 percent, a slide from
an 8 percent rise the year before.[12] The economy rebounded in 1999 with a 5.4 percent growth in GDP.
Singapore did not need IMF or other external help because of our strong reserves, prudent budgets and sound
economy. Nevertheless, we seized the opportunity to adjust our costs, liberalise our financial sector and reform the
economy. Within a year, our growth resumed..

ST ENGINEERING
MAN POWER 21
SINGAPORE SIGNS FREE TRADE AGREEMENT WITH NEW ZEALAND - The ANZSCEP had a positive
impact on the bilateral trade between Singapore and New Zealand. Three months after the FTA was
implemented on 1 January 2001, trade between the two countries increased by 35 percent year-on-year in
January and February.[6] The increase was led by Singapores exports to New Zealand, which rose 54 percent in
January and February to S$70.7 million from S$45.8 million in the same period the year before. New Zealands
exports to Singapore, on the other hand, increased 46 percent to S$56.3 million

CREDIT BUREAU - The CBS helps financial institutions and credit card companies to assess the risks of
extending credit to a potential or existing client by providing them with a credit report of the borrower. [4] The credit
report includes information such as the borrowers credit history, credit repayment trend and, if any, records of
defaults, litigation and bankruptcy. The report is generated from information provided by participating financial
institutions and other publicly available sources such as court writ of summons and bankruptcy data.

ECONOMIC REVIEW COMMITTEE

21ST CENTURY SINGAPORE

In 2006, the government set aside more than $13 billion to promote R&D over the next five years as part
of its goal to increase gross expenditure on R&D (GERD) from 2.25 per cent to 3 per cent of gross
domestic product (GDP) within that period.

OCTOBER 2008 SINGAPORE EXPERIENCE THEIR WORST RECESSION (GLOBAL FINANCIAL

CRISIS 2008 2009) The first decade of the 21st century ended with a bleak world economic outlook following
the 20082009 global financial crisis, which was headlined by the collapse of American investment bank Lehman
Brothers in September 2008.[1] By the third quarter of 2008, the banking crisis in the United States (US) and its
ripple effects had greatly stressed the Singapore economy, causing it to be the first country in East Asia to
succumb to recession. To help Singapore businesses and workers cope with the economic downturn, the
government pledged S$2.9 billion in November 2008 and a further S$20.5 billion Resilience Package in January
2009.[7] The Singapore economy weathered the financial storm better than feared with Prime Minister Lee Hsien
Loong announcing in August 2009 that the worst is over for the Singapore economy and that the eye of the
storm has passed. In November, the Ministry of Trade and Industry declared that the recession was effectively
over and projected a growth forecast of between three and five percent in 2010. The economic figures achieved
in 2010 defied gloomy predictions made the year before when the recession was in full steam.
FIRST LOW OF ECONOMIC RESTRUCTURING SHARES NEW SINGAPORE SHARES SCHEME / ERS
- On 3 May 2002, then Deputy Prime Minister Lee Hsien Loong announced that a S$3.6-billion Economic
Restructuring Shares (ERS) scheme would be implemented to help Singaporeans cope with increases in the
Goods and Services Tax (GST) for at least five years. Those who chose not to do so earned tax-free dividends
each year in the form of bonus shares that were payable every year on 1 March from 2004 to
2008.[8]Singaporeans who held on to their ERS received 10.7 percent worth of bonus shares on 1 March 2008 as
the final dividend payment. The ERS closed on 1 September 2008.

SINGAPORE 2006 - was the biggest global event Singapore had ever organised at that time.[3] It was
estimated that the meetings would generate revenue of at least S$170 million for Singapore in the form of
contracts, business opportunities, tourism and retail receipts, and spending by financial institutions. The IMF-
World Bank meetings in Singapore saw the gathering of over 20,000 participants comprising national delegates,
finance ministers and central bank governors from 184 member countries. As the IMF-World Bank meetings in
Singapore were held one year after the terrorist bombings in London, security was a major concern. [10] To deter
terrorist attacks and to safeguard the safety of the participants, the police force, along with some 23,000 national
servicemen, were deployed.[11] Tight security measures were also introduced to secure the premises, and strict
conditions were laid down on how demonstrations could be staged. [12] For instance, protestors were only allowed
to demonstrate within a specified area at the Suntec convention centre, and outdoor demonstrations were
prohibited

SINGAPORE SIGNS FREE TRADE AGREEMENT WITH THE US - The historic US-Singapore Free Trade
Agreement (USSFTA) was signed by then Prime Minister of Singapore Goh Chok Tong and then President of the
United States George W. Bush at the White House on 6 May 2003. [1] The USSFTA was a landmark deal as it
was the first FTA that the United States (US) had signed with an Asian country. [2] For Singapore, the USSFTA
would help to boost its bilateral trade with the US, which was on the decline at the time. In 2001, the US was
Singapores second largest trading partner behind Malaysia. Total trade between Singapore and the US
decreased from S$67.7 billion in 2001 to S$62.5 billion in 2002. [3]

WDA workforce development agency

In 2003, Singapore was still recovering from a series of regional and world disasters such as the 1997 Asian
financial crisis, 2001 September 11 attacks, 2002 Bali bombings and the 2003 severe acute respiratory syndrome
(SARS) outbreak.[1] These contributed to the shrinking job market and an increase in retrenchment. Between
April and June 2003, Singapore lost a record 25,963 jobs, which was more than the figure for the whole of 2002.
Following reports that that there was a great urgency in helping about 85,100 unemployed Singaporeans, [8] the
WDA invested in training programmes to help workers gain the skills necessary to find and keep their job. The
objective was to ensure that job seekers were equipped with the relevant skills required to fill existing job
vacancies. Under the WDAs Place-and-Train programmes, the unemployed were matched with suitable jobs and
then provided with the relevant training.[9] In the long term, WDA aims to build professional expertise in pedagogy
and curriculum development for adult learning and skills certification, and provide the national coordination for
continuing education and training, as well as workforce development efforts.

UNIQUELY SINGAPORE CAMPAIGN DESTINATION BRAND FROM 2004 2010 - tagline was
used to market Singapore as a unique tourist destination where aspects of a modern living environment co-exist
with the traditions and cultures of a multicultural society. The Uniquely Singapore branding had a positive effect
on Singapores tourism industry. Between 2004 and 2010, Singapores total visitor arrivals increased from 8.3
million to 11.6 million.[14] Tourism receipts jumped from S$10.1 billion to S$18.1 billion during the same
period.[15] In March 2010, Uniquely Singapore was replaced by a new destination branding called
YourSingapore.

*The Great Marriage Debate if you dont include women graduates in your breeding pool
and leave them on the shelf, you would end up a more stupid society So what happens?
There will be less bright people to support dumb people the next generation. Thats a
problem. Lee Kuan Yew / sterilisation // Social development units
Services sector - Its share of total output and employment in the economy has risen at the expense of the
manufacturing sector, and today accounts for about two-thirds of value-added and seven-tenths of employment. .
more stable ; acts as buffer. The expanding share of services in the economy implies that growth in overall
productivity and living standards in the economy will likely be increasingly influenced by productivity
developments in the services sector. As such, raising productivity in the services sector will be critical for
economic growth.

1. China: US$42.8 billion (13% of total Singaporean exports)

2. Hong Kong: $41.6 billion (12.6%)
3. Malaysia: $35 billion (10.6%)
4. Indonesia: $25.8 billion (7.8%)
5. United States: $22.7 billion (6.9%)
6. Taiwan: $14.7 billion (4.5%)
7. Japan: $14.6 billion (4.4%)
8. South Korea: $14.5 billion (4.4%)
9. Thailand: $13 billion (3.9%)
10. Vietnam: $11.4 billion (3.4%)
11. India: $9.8 billion (3%)
12. Australia: $9.4 billion (2.8%)
13. Netherlands: $6.9 billion (2.1%)
14. Philippines: $6.5 billion (2%)
15. Germany: $5.7 billion (1.7%)

The top exports of Singapore are Integrated Circuits ($43.8B), Refined

Petroleum ($37.7B), Computers ($9.4B), Oxygen Amino Compounds($6.66B)
and Packaged Medicaments ($5.39B), using the 1992 revision of the HS (Harmonized
System) classification. Its top imports are Integrated Circuits ($49.1B), Refined
Petroleum ($39.3B), Crude Petroleum ($17B), Passenger and Cargo Ships ($7.66B)
and Computers($7.11B).