the 1970s and early 1980s, the
economy expanded rapidly, achieving an average annual growth rate of 9%. Per
capita GDP is among the highest in Asia. In 1985 the economy registered its
first drop in 20 years and achieved less than a 2% increase in 1986. Recovery
was strong. Estimates for 1989 suggest a 9.2% growth rate based on rising
demand for Singapore's products in OECD countries, a strong Japanese yen, and
improved competitiveness of domestic manufactures.

GDP: $27.5 billion, per capita $10,300; real growth rate 9.2% (1989 est.)

Inflation rate (consumer prices): 3.5% (1989 est.)

Unemployment rate: 2% (1989 est.)

Budget: revenues $6.6 billion; expenditures $5.9 billion,
including capital expenditures of $2.2 billion (FY88)

Exports: $46 billion (f.o.b., 1989 est.); commodities--includes
transshipments to Malaysia--petroleum products, rubber, electronics,
manufactured goods; partners--US 24%, Malaysia 14%, Japan 9%,
Thailand 6%, Hong Kong 5%, Australia 3%, FRG 3%

Imports: $53 billion (c.i.f., 1989 est.); commodities--includes
transshipments from Malaysia--capital equipment, petroleum, chemicals,
manufactured goods, foodstuffs; partners--Japan 22%, US 16%, Malaysia 15%,
EC 12%, Kuwait 1%

External debt: $5.2 billion (December 1988)

Industrial production: growth rate 9% (1989 est.)

Electricity: 4,000,000 kW capacity; 12,000 million kWh produced,
4,490 kWh per capita (1989)

Industries: petroleum refining, electronics, oil drilling equipment,
rubber processing and rubber products, processed food and beverages, ship
repair, entrepot trade, financial services, biotechnology

Agriculture: occupies a position of minor importance in the economy;
self-sufficient in poultry and eggs; must import much of other food; major
crops--rubber, copra, fruit, vegetables

Aid: US commitments, including Ex-Im (FY70-83), $590 million; Western
(non-US) countries, ODA and OOF bilateral commitments (1970-87), $882 million

Currency: Singapore dollar (plural--dollars);
1 Singapore dollar (S$) = 100 cents

Exchange rates: Singapore dollars per US$1--1.8895 (January 1990),
1.9503 (1989), 2.0124 (1988), 2.1060 (1987), 2.1774 (1986), 2.2002 (1985)

Fiscal year: 1 April-31 March

- Communications
Railroads: 38 km of 1.000-meter gauge

Highways: 2,597 km total (1984)

Ports: Singapore

Merchant marine: 407 ships (1,000 GRT or over) totaling 7,286,824
GRT/11,921,610 DWT; includes 126 cargo, 52 container, 5 roll-on/roll-