World Factbook
Singapore
Republic of Singapore
Last updated: 2026-03-28 (today)
Budget
note
note: central government revenues (excluding grants) and expenditures converted to US dollars at average official exchange rate for year indicated
revenues
$80.836 billion (2022 est.)
expenditures
$73.144 billion (2022 est.)
Exports
note
note: balance of payments - exports of goods and services in current dollars
Exports 2022
$947.355 billion (2022 est.)
Exports 2023
$917.683 billion (2023 est.)
Exports 2024
$978.597 billion (2024 est.)
Imports
note
note: balance of payments - imports of goods and services in current dollars
Imports 2022
$744.364 billion (2022 est.)
Imports 2023
$728.5 billion (2023 est.)
Imports 2024
$786.02 billion (2024 est.)
Industries
electronics, chemicals, financial services, oil drilling equipment, petroleum refining, biomedical products, scientific instruments, telecommunication equipment, processed food and beverages, ship repair, offshore platform construction, entrepot trade
Labor force
3.722 million (2024 est.)
note: number of people ages 15 or older who are employed or seeking work
Public debt
note
note: central government debt as a % of GDP
Public debt 2023
175.6% of GDP (2023 est.)
Remittances
note
note: personal transfers and compensation between resident and non-resident individuals/households/entities
Remittances 2021
0% of GDP (2021 est.)
Remittances 2022
0% of GDP (2022 est.)
Remittances 2023
0% of GDP (2023 est.)
Exchange rates
Currency
Singapore dollars (SGD) per US dollar -
Exchange rates 2020
1.38 (2020 est.)
Exchange rates 2021
1.343 (2021 est.)
Exchange rates 2022
1.379 (2022 est.)
Exchange rates 2023
1.343 (2023 est.)
Exchange rates 2024
1.336 (2024 est.)
Economic overview
high-income, service-based economy; global financial hub; business-friendly policies and open to investment and trade; inflation easing but persistent in services; public investments in education, healthcare, and infrastructure; strong human capital development challenged by aging population
Unemployment rate
note
note: % of labor force seeking employment
Unemployment rate 2022
3.6% (2022 est.)
Unemployment rate 2023
3.5% (2023 est.)
Unemployment rate 2024
3.2% (2024 est.)
Exports - partners
Hong Kong 13%, China 11%, USA 10%, Malaysia 9%, S. Korea 6% (2023)
note: top five export partners based on percentage share of exports
Imports - partners
China 15%, Malaysia 11%, Taiwan 11%, USA 10%, S. Korea 6% (2023)
note: top five import partners based on percentage share of imports
Real GDP per capita
note
note: data in 2021 dollars
Real GDP per capita 2022
$133,600 (2022 est.)
Real GDP per capita 2023
$129,600 (2023 est.)
Real GDP per capita 2024
$132,600 (2024 est.)
Real GDP growth rate
note
note: annual GDP % growth based on constant local currency
Real GDP growth rate 2022
4.1% (2022 est.)
Real GDP growth rate 2023
1.8% (2023 est.)
Real GDP growth rate 2024
4.4% (2024 est.)
Agricultural products
chicken, eggs, vegetables, pork, duck, spinach, lettuce, pork offal, cabbages, pork fat (2023)
note: top ten agricultural products based on tonnage
Exports - commodities
integrated circuits, refined petroleum, machinery, vaccines, gold (2023)
note: top five export commodities based on value in dollars
Imports - commodities
integrated circuits, refined petroleum, crude petroleum, gold, gas turbines (2023)
note: top five import commodities based on value in dollars
Current account balance
note
note: balance of payments - net trade and primary/secondary income in current dollars
Current account balance 2022
$93.771 billion (2022 est.)
Current account balance 2023
$89.403 billion (2023 est.)
Current account balance 2024
$96.015 billion (2024 est.)
Taxes and other revenues
13.9% (of GDP) (2023 est.)
note: central government tax revenue as a % of GDP
GDP (official exchange rate)
$547.387 billion (2024 est.)
note: data in current dollars at official exchange rate
GDP - composition, by end use
note
note: figures may not total 100% due to rounding or gaps in data collection
household consumption
31.5% (2024 est.)
government consumption
10.6% (2024 est.)
investment in inventories
0.3% (2024 est.)
investment in fixed capital
21.9% (2024 est.)
exports of goods and services
178.8% (2024 est.)
imports of goods and services
-143.6% (2024 est.)
Average household expenditures
on food
7% of household expenditures (2023 est.)
on alcohol and tobacco
1.7% of household expenditures (2023 est.)
Inflation rate (consumer prices)
note
note: annual % change based on consumer prices
Inflation rate (consumer prices) 2022
6.1% (2022 est.)
Inflation rate (consumer prices) 2023
4.8% (2023 est.)
Inflation rate (consumer prices) 2024
2.4% (2024 est.)
Industrial production growth rate
4.2% (2024 est.)
note: annual % change in industrial value added based on constant local currency
Real GDP (purchasing power parity)
note
note: data in 2021 dollars
Real GDP (purchasing power parity) 2022
$752.948 billion (2022 est.)
Real GDP (purchasing power parity) 2023
$766.662 billion (2023 est.)
Real GDP (purchasing power parity) 2024
$800.304 billion (2024 est.)
Youth unemployment rate (ages 15-24)
male
5.6% (2024 est.)
note
note: % of labor force ages 15-24 seeking employment
total
7.8% (2024 est.)
female
10.8% (2024 est.)
Reserves of foreign exchange and gold
note
note: holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars
Reserves of foreign exchange and gold 2022
$296.629 billion (2022 est.)
Reserves of foreign exchange and gold 2023
$359.835 billion (2023 est.)
Reserves of foreign exchange and gold 2024
$383.946 billion (2024 est.)
GDP - composition, by sector of origin
note
note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data
industry
21.4% (2024 est.)
services
73% (2024 est.)
agriculture
0% (2024 est.)
Gini Index coefficient - distribution of family income
Gini Index coefficient - distribution of family income 2016
45.8 (2016)