The information on this page was current at the time it was published. Regulations, trends, statistics, and other information are constantly changing. While we strive to update our Knowledge Base, we strongly suggest you use these pages as a general guide and be sure to verify any regulations, statistics, guidelines, or other information that are important to your efforts.
Important Statistics About Singapore for Business
| Singapore Unemployment Rate: Typically low (around 2%) |
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| Singapore Employment Rate: Consistently high (around 73%) |
| Labor Force of Singapore: Labor force, total in Singapore was reported at 3,540,908 in 2022. |
| Singapore GDP: 397 billion USD (2021) |
| Singapore GDP Per Capita: 72,794.00 USD (2021) |
| Singapore Inflation Rate: Singapore’s annual inflation rate unexpectedly fell to 2.9% in January 2024 from 3.7% in December. |
| Ease of Doing Business Ranking: Consistently ranks among the top globally (World Bank ranked Singapore #2 in 2023) |
| Ease of Doing Business Ranking: In 2020, the ease of doing business score in Singapore reached 86.2. During the period of consideration, the ease of doing business in Singapore went from rank 1 in 2013 to rank 2 in 2020 |
| Major Singapore Industries: Financial services, manufacturing,professional services and information technology. |
| Singapore Internet Penetration Rate: Singapore’s internet penetration rate stood at 96.9 percent of the total population at the start of 2023. |
| Singapore Minimum Wage: Singapore has a progressive minimum wage system that varies by sector and experience level (around $1,500 SGD per month) |
| Singapore Corruption Perception Index: The 2023 Transparency International Corruption Perceptions Index (TI-CPI) has ranked Singapore the 5th least corrupt country in the world out of 180 countries with a score of 83. Singapore maintained the same rank and score from the 2022 TI-CPI, and remained the only Asian country ranked in the top 10. |
| Labor Union Presence and Activity in Singapore: Unionization rates are relatively low (around 13%), fostering a more flexible and employer-friendly work environment |
| Age Structure in Singapore: Singapore has an aging population, with a growing segment of retirees (over 60 years old) |
| Singapore Birth rate: The current birth rate for Singapore in 2024 is 8.220 births per 1000 people, a 1.39% decline from 2023. |
| Singapore Death Rate: The death rate in Singapore increased by 0.6 deaths per 1,000 inhabitants (+11.54 percent) since the previous year. Therefore, the death rate in Singapore reached a peak in 2021 with 5.8 deaths per 1,000 inhabitants. |
| Singapore Sex Ratio: The Gender Ratio of Singapore (2020 – 2028, males per 100 females) The gender ratio in Singapore attained a value of 109 males to 100 females in 2021. The ratio recorded a year-on-year decrease of 0.01% in 2021. |
| Life Expectancy in Singapore: Singapore boasts a high life expectancy (over 83 years old) |
| Alcohol Consumption in Singapore: The results showed that in 2021, 2.8 per cent of Singapore residents consumed alcohol regularly, 11.3 percent frequently, 30.7 percent occasionally and 55.2 percent were non-drinkers. |
| Singapore Export Partners: Top export partners include China, Malaysia, the United States, and Indonesia. |
| Top 5 Singapore Export Commodities: Electronic products, chemicals, refined petroleum products, and machinery are major exports. |
| Singapore Import partners: Singapore’s import partners are diverse and reflect its status as a global trading hub. Some of the key import partners of Singapore include: China,Malaysia,United States,European Union (EU),Japan,South Korea,Indonesia,Thailand. |
| Top 5 Singapore Import Commodities: Machinery and equipment, mineral fuels, and chemicals are primary imports. |
| Electricity Access in the Singapore: Virtually the entire population has access to reliable electricity |
| Airports in Singapore: Changi Airport is a world-class aviation hub, facilitating international trade and travel. |
| Railway in Singapore: More than 140 stations across six MRT lines span the island |
| Heliports in Singapore: Sembawang Air Base,Brani Naval Base,Ministry of Defence Headquarters (two),Tan Tock Seng Hospital,Singapore General Hospital,Swissôtel The Stamford. |
| Major Seaports Singapore: Singapore has two main commercial port terminal operators, namely PSA Corporation Limited and Jurong Port. Both ports can accommodate all vessel types. The Port of Singapore includes terminals located at Tanjong Pagar, Keppel, Brani, Pasir Panjang, Sembawang, Jurong and Tuas. |
References
- Singapore Business Federation
- Economic Development Board of Singapore
- World Bank Singapore
- Doing Business in Singapore (World Bank):
- Singapore Department of Statistics
- Ministry of Education Singapore
- International Monetary Fund Singapore
- Singapore Economic Development Board
- DataReportal Singapore
- Transparency International Corruption Perception Index
- Ministry of Manpower Singapore
- Singapore Trade & Industry Association
- Energy Market Authority Singapore
- Changi Airport Singapore
- Land Transport Authority Singapore