Background of Singapore:
Singapore was founded as a British trading colony in 1819. It joined the Malaysian Ferderation at 1963 but separated two years later and became independent. Singapore subsequently became one of the world's most prosperous countries with strong international trading links with many countries.


Economy - overview:
Singapore has a highly developed and successful free-market economy, which 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 consumer electronics and information technology products. Fiscal stimulus, low interest rates, a surge in exports, and internal flexibility led to vigorous growth in 2004-07 with real GDP growth averaging 7% annually. The government hopes to establish Singapore as Southeast Asia's financial and high-tech hub.


credit to : https://www.cia.gov/library/publications/the-world-factbook/print/sn.html

-Keng Ann