rom 2001-03 by the global recession, by
the slump in the technology sector, and by an outbreak of Severe
Acute Respiratory Syndrome (SARS) in 2003, which curbed tourism and
consumer spending. Fiscal stimulus, low interest rates, a surge in
exports, and internal flexibility led to vigorous growth in 2004-07
with real GDP growth averaging 7% annually. The government hopes to
establish a new growth path that will be less vulnerable to the
global demand cycle for information technology products - it has
attracted major investments in pharmaceuticals and medical
technology production - and will continue efforts to establish
Singapore as Southeast Asia's financial and high-tech hub.

GDP (purchasing power parity):

$227.1 billion (2007 est.)

GDP (official exchange rate):

$161.3 billion (2007 est.)

GDP - real growth rate:

7.7% (2007 est.)

GDP - per capita (PPP):

$49,900 (2007 est.)

GDP - composition by sector:

agriculture: 0%
industry: 31.2%
services: 68.8% (2007 est.)

Labor force:

2.751 million (2007 est.)

Labor force - by occupation:

manufacturing 21%, construction 5%, transportation and communication
7%, financial, business, and other services 42%, other 25% (2006)

Unemployment rate:

2.1% (2007 est.)

Population below poverty line:

NA%

Household income or consumption by percentage share:

lowest 10%: 1.9%
highest 10%: 32.8% (1998)

Distribution of family income - Gini index:

52.2 (2005)

Investment (gross fixed):

24.9% of GDP (2007 est.)

Budget:

revenues: $27 billion
expenditures: $21.5 billion (2007 est.)

Fiscal year:

1 April - 31 March

Public debt:

96.3% of GDP (2007 est.)

Inflation rate (consumer prices):

2.1% (2007 est.)

Commercial bank prime lending rate:

5.33% (31 December 2007)

Stock of money:

$44.4 billion (31 December 2007)

Stock of quasi money:

$162.2 billion (31 December 2007)

Stock of domestic credit:

$129.2 billion (31 December 2007)

Agriculture - products:

rubber, copra, fruit, orchids, vegetables; poultry, eggs; fish,
ornamental fish

Industries:

electronics, chemicals, financial services, oil drilling equipment,
petroleum refining, rubber processing and rubber products, processed
food and beverages, ship repair, offshore platform construction,
life sciences, entrepot trade

Industrial production growth rate:

7.4% (2007 est.)

Electricity - productio