Diplomatic representation in the US: chief of mission: Ambassador CHAN Heng Chee chancery: 3501 International Place NW, Washington, DC 20008 telephone: [1] (202) 537-3100 FAX: [1] (202) 537-0876 consulate(s) general: San Francisco consulate(s): New York
Diplomatic representation from the US: chief of mission: Ambassador Patricia L. HERBOLD embassy: 27 Napier Road, Singapore 258508 mailing address: FPO AP 96507-0001 telephone: [65] 6476-9100 FAX: [65] 6476-9340
Flag description:
two equal horizontal bands of red (top) and white; near the hoist
side of the red band, there is a vertical, white crescent (closed
portion is toward the hoist side) partially enclosing five white
five-pointed stars arranged in a circle
Economy Singapore
Economy - overview:
Singapore, a highly-developed and successful free-market economy,
enjoys a remarkably open and corruption-free environment, stable
prices, and a per capita GDP equal to that of the four largest West
European countries. The economy depends heavily on exports,
particularly in electronics and manufacturing. It was hard hit in
2001-03 by the global recession, by the slump in the technology
sector, and by an outbreak of Severe Acute Respiratory Syndrome
(SARS) in 2003, which curbed tourism and consumer spending. The
government hopes to establish a new growth path that will be less
vulnerable to the external business cycle and will continue efforts
to establish Singapore as Southeast Asia's financial and high-tech
hub. Fiscal stimulus, low interest rates, a surge in exports, and
internal flexibility led to vigorous growth in 2004, with real GDP
rising by 8% - by far the economy's best performance since 2000 -
but growth slowed to 5.7% in 2005.
GDP (purchasing power parity):
$126.5 billion (2005 est.)
GDP (official exchange rate):
$110.6 billion (2005 est.)
GDP - real growth rate:
6.4% (2005 est.)
GDP - per capita (PPP):
$28,600 (2005 est.)
GDP - composition by sector: agriculture: 0% industry: 33.9% services: 66.1% (2005 est.)