sien Loong (since 28 November 1990); Deputy Prime Minister ONG Teng
Cheong (since 2 January 1985)
Member of:
APEC, AsDB, ASEAN, C, CCC, COCOM (cooperating country), CP, ESCAP, G-77,
GATT, IAEA, IBRD, ICAO, ICC, ICFTU, IFC, ILO, IMF, IMO, INMARSAT, INTELSAT,
INTERPOL, IOC, ISO, ITU, LORCS, NAM, UN, UNAVEM II, UNCTAD, UNIKOM, UPU,
WHO, WIPO, WMO
Diplomatic representation in US:
chief of mission:
Ambassador S. R. NATHAN

*Singapore, Government

chancery:
1824 R Street NW, Washington, DC 20009 telephone:
(202) 667-7555
US diplomatic representation:
chief of mission:
Ambassador Jon M. HUNTSMAN, Jr.
embassy:
30 Hill Street, Singapore 0617
mailing address:
FPO AP 96534
telephone:
[65] 338-0251
FAX:
[65] 338-4550
Flag:
two equal horizontal bands of red (top) and white; near the hoist side of
the red band, there is a vertical, white crescent (closed portion is toward
the hoist side) partially enclosing five white five-pointed stars arranged
in a circle

*Singapore, Economy

Overview:
Singapore has an open entrepreneurial economy with strong service and
manufacturing sectors and excellent international trading links derived from
its entrepot history. The economy appears to have pulled off a soft landing
from the 9% growth rate of the late 1980s, registering higher than expected
growth in 1992 while stemming inflation. Economic activity slowed early in
1992, primarily as a result of slackened demand in Singapore's export
markets. But after bottoming out in the second quarter, the economy picked
up in line with a gradual recovery in the United States. The year's best
performers were the construction and financial services industries and
manufacturers of computer-related components. Rising labor costs continue to
be a threat to Singapore's competitiveness, but there are indications that
productivity is catching up. Government surpluses and the rate of gross
national savings remain high. In technology, per capita output, and labor
discipline, Singapore is well on its way toward its goal of becoming a
developed country.
National product:
GDP - exchange rate conversion - $45.9 billion (1992)
National product real growth rate:
5.8% (1992)
National product per capita:
$16,500 (1992)
Inflation rate (consumer prices):
2.3% (1992)
Unemployment rate:
2.7% (June 1992)
Budget:
revenues $10.4 billion; expenditures $9.4 billion, including