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Singapore’s chemical economy grew by 5.2% during this period

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Singapore’s chemical economy grew by 5.2% during this period

What is Singapore's current gross domestic product (GDP)?
In the third quarter of 2017, Singapore’s GDP (calculated at current market prices) was S$107 billion. According to Bloomberg News, Singapore’s chemical economy grew by 5.2% during this period(there are some chemical news), the fastest growth rate in more than three years.

The recovery of global trade and the improvement of the labor market have not only helped Singapore maintain the growth of its manufacturing industry, but also helped Singapore expand other industries such as the service industry and retail industry.

The Monetary Authority of Singapore estimates that compared with 2017, Singapore’s economy may expand at a steady but slightly slower rate in 2018.

Does the Singapore government have public debt?
The Singaporean government has kept its foreign debts at zero since 1995. As for domestic debt, as of the third quarter of 2017, the total outstanding government borrowing was S$496 billion, including registered stocks and bonds, government bonds and advance deposits.

However, this high figure does not accurately reflect Singapore's financial strength-the Singapore government borrowed money to invest, and the return on investment (ROI) generated by these investments made up the difference.

Through the implementation of these strategic debts, coupled with strong asset protection, strong economic growth and prudent macroeconomic policies, the Singaporean government has a strong balance sheet with assets exceeding liabilities.

What is the main source of revenue for the Singapore government?
As of the third quarter of 2017, the total revenue of the Singapore government is estimated at S$69 billion.

Like most governments, most of Singapore’s revenue comes from taxes—income, property, excise and customs duties, and goods and services taxes. Other sources of government revenue include license and permit fees, government property rentals, fines and forfeitures, and capital revenue from the sale of capital goods.

What is Singapore's current currency strength?
As of November 2017, the Singapore dollar to US dollar exchange rate was 1.3467 SGD, slightly lower than the 2016 average exchange rate of 1.3815 SGD.
What are Singapore's current trade advantages?
In 2017, Singapore’s trade in goods reached S$967.1 billion, a year-on-year increase of 11.1%. Singapore is considered the world's 14th largest exporter and 17th largest importer.

The top three import and export commodity sectors in Singapore are machinery and transportation equipment, chemicals and chemical products, and miscellaneous manufactured goods.

In 2017, Singapore exported 515 billion US dollars worth of goods, and its main export partners are the United States, Australia, Japan, China and the United Kingdom

In 2017, China also imported goods worth S$452.1 billion. Its main import partners are the United States, the Netherlands, China, Hong Kong and Japan.

Build your career in a safe and stable economic environment
Singapore’s economy is on a healthy growth path-it ranks third in Fortune’s ranking of the world’s richest countries and enjoys high foreign direct investment (S$62 billion in 2017). If you are looking for a place to build or expand your business, Singapore is a place.

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