By: Maxine, Elizabeth, Kathryn, and Sarahi

The economy of Singapore

Singapores Background
In 2014, Lew Kuan Yew passed away.
Got independence in 1965
Ruled by PAP
Main manufacturer
Singapore is one of the worlds most prosperous nations

Economic System

Economic Systems
Highly developed market economy.
The government answers the three economic questions
They have a president that is the head of the state and prime minister
is the head of the government.
There are two types of elections, parliamentary and presidential. The
people elect the president.

Global Economic
Impact

What is global economic impact?

Its the part a country plays in international business.
More participation=better economy.
Global business brings in more money and goods.

Singapore: Exports and Imports

Singapore gains most of its revenue from international trade.
Singapore does a lot of exporting.
Their main exports are refined petroleum, integrated circuits, and
computers.
Their main imports are refined petroleum, integrated circuits, and
crude petroleum.
Singapore exports things like electronics, chemicals, and services to
pay for the raw materials and goods that they lack.
Singapores main export partners are Malaysia, China, Hong Kong,
Indonesia, the U.S., Japan, and South Korea.

Singapores Part in the Global Economy

Singapore is an active member of the World Trade
Organization (WTO).
Singapore has many foreign investors interested in
them.
Singapore is ranked number 1 in ease of business
by the World Bank.
Singapore is ranked first in the
Global Enabling Trade Report.

Economic Conditions

What are economic conditions?

State of an economy of region
Can change over time
Influenced by numerous macroeconomic and
microeconomic factors
http://www.investopedia.com/terms/e/economicconditions.asp

Singapores Economic Conditions

CPI (consumer price index)
Has increased there Index Points
Average point was 58.97
Highest number 100.25
Lowest number 24.17
GDP (gross domestic product)
GDP was worth 307.86 billion
Average GDP was 67.77

Singapores Economic System (continued)

Unemployment Rate
March 2015- rate was 1.8 per cent
Residents- 2.5 to 2.8 per cent
Citizens- 2.6 to 2.9 per cent
Business Cycle
Currently recession
Unemployment is increasing
Demands are lowering

In conclusion...
Singapores regulatory environment remains one of the worlds most
efficient.
Launching a business only takes three days, because of no minimum
capital required.
There is no statutory minimum wage, but wage adjustments are
guided by the National Wage COuncil.
Despite the challenging external environment, inflation is under
control.

Economic Culture

What exactly is a countrys economic culture?

Economic Culture - the branch of economics that studies
the relation of culture to economic outcomes.
This means basically anything that uses art or culture to
create employment opportunities.

Singapores Economic Culture

Fully developed industrial international economy.
Singapore mainly consists of Chinese (76.5%), Malay (13.8%), and
Indian people (8%).
Benefits from foreigners living in Singapore are their good GPD
ranking.
Singapore has been recognised as one of the best cities for
business.
On average for a 4 person family to live there is $4,215.61
(WITHOUT rent).
This country depends heavily on imports because of the few natural

Works Cited
"Economy of Singapore." Wikipedia. Wikimedia Foundation, n.d. Web. 05 Feb. 2016.
"Singapore Consumer Price Index (CPI) | 1961-2016 | Data | Chart | Calendar." Singapore
Consumer Price Index
(CPI) | 1961-2016 | Data | Chart | Calendar. Web. 05 Feb. 2016. (Kathryn)
"Singapore." Culture of. N/A, 7 Sept. 2006. Web. 05 Feb. 2016.
"Singapore Exports | 1964-2016 | Data | Chart | Calendar | Forecast | News." Singapore
Exports | 1964-2016 | Data |
Chart | Calendar | Forecast | News. Trading Economics, n.d. Web. 04 Feb. 2016.
"Singapore - Language, Culture, Customs and Etiquette." Singapore. N.p., 31 May 2009.
Web. 04 Feb. 2016.

Works Cited: Continued

Singapore. Economy: Population, GDP, Inflation, Business, Trade, FDI, Corruption. Web. 05
Feb. 2016. (Kathryn)
"Singapore - World Rankings for Quality & Cost of Living." Quality & Cost of Living. Nike, 13
Nov. 2005. Web. 05 Feb.
2016.
Unemployment Edges up in Q2 amid Softer Economy. Channel NewsAsia. Web, 05 Feb,
2016. (Kathryn)