Despite its diminutive size – the country's main island is only about 50 km wide – Singapore punches well above its weight economically. It is the region's wealthiest country, with a GDP per capita of S$88,991 (2019), consistently ranking in the top two positions in the World Bank's Doing Business reports. Given its lack of natural resources, Singapore has continually leveraged on technology to improve its competitiveness and productivity, and aims to lead the region in Industry 4.0.
Population size
Median age
Capital
Currency unit
Internet penetration rate
Mobile penetration rate
US$64,829
2020 estimated
GDP per capita
-3.5% | 3%
Real GDP growth projection
(Annual per cent change,
2020 & 2021)
AAA
S&P global ratings
3.4 mil
Total labour force (2019)
97.3%
Literacy rate (2018)
US$148.50
Average daily wage for
manufacturing employee
(2016)
17%
Corporate tax
88
Number of DTAs
0%
Dividend withholding tax
0%
Interest withholding tax
0%
Capital gains tax
Not regulated
FX control
| Exports US$390 bil |
Imports US$359 bil |
|
|
Based on 2019 data
The Global Investor Programme accords Singapore Permanent Resident status to eligible global investors who intend to drive their businesses and investment growth from Singapore.
International Headquarters (IHQ) Award, Pioneer Certificate Incentive (PC) & Development and Expansion Incentive (DEI)
Finance & Treasury Centre (FTC) Incentive
IP Development Incentive
Global Traders Programme
Sources: UOB Global Economics & Markets Research, Inland Revenue of Singapore (IRAS), Singapore Economic Development Board (EDB), Enterprise Singapore, World Economic Outlook (October 2019 and April 2020); World Bank; UNESCO Institute of Statistics
This fact sheet is given on a general basis without obligation and is strictly for information only. Nothing in this fact sheet constitutes accounting, legal, regulatory, tax or other advice. This fact sheet is not intended as an offer, recommendation, solicitation, or advice to purchase or sell any investment product, securities or instruments. Although reasonable care has been taken to ensure the accuracy and objectivity of the information contained in this fact sheet, UOB and its employees make no representation or warranty, whether express or implied, as to its accuracy, completeness and objectivity and accept no responsibility or liability for any error, inaccuracy, omission or any consequence or any loss or damage howsoever suffered by any person arising from any reliance on the information in this fact sheet.
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