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Singapore Business Report

General information
Source: The World Factbook - Central Intelligence Agency
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Population
5,888,926 (July 2017 est.)
GDP (PPP)
$527 billion (2017 est.)

Very stable economy with sound fundamentals

GDP growth rate
3.6% (2017 est.)

Medium, healthy growth rate

GDP (PPP) per capita
$93,900 (2017 est.)

Very high

Local currency
Singaporean dollar (SGD)

Stable currency, one of the best in the area

Financial stability (Public debt)
110.9% of GDP (2017 est.)

The "debt" is actually Singapore's pension fund, whose issues are not tradable and it is all internally held; the government has not borrowed to finance deficit expenditures since the 1980s, and it has no external public debt.

Inflation
0.6% (2017 est.)

Very low

Language

English 36.9%, Chinese (Mandarin, Cantonese) 47.1%, Malay 10.7%, Tamil 3.3%

Corruption perception index (Source: Transparency International)
6/180

Very low level of corruption

Duties and tax
Source: PwC World Tax Summaries 2017-2018
VAT

7% standard goods and services tax rate
Corporate Tax

17% standard rate
Duties

Singapore is essentially a free port with minimal import restrictions Customs and excise duties are imposed on intoxicating liquors, tobacco products, motor vehicles, and petroleum products

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