The Economy of Singapore
Singapore at a Glance
A tiny island city-state with almost no natural resources became one of the world's richest economies within a few decades.
Singapore is an island city-state of under six million people, at the southern tip of the Malay Peninsula, with among the highest incomes per person in the world.
Size
It covers only around 730 square kilometres, less than many large Indian cities’ districts.
No natural resources
It has almost no oil, minerals or farmland, and even its water and sand have to be imported or manufactured.
What it has
Location on a key shipping route, skilled workers, strong institutions and openness to trade and foreign investment.
A country the size of a city hosts headquarters of global companies and one of the busiest ports on Earth.
Singapore built wealth on people, location and policy.
- Singapore is a small city-state.
- It has few resources.
- Location and institutions matter.
- Incomes are among the world's highest.
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