Singapore Country Evaluation

Topics: Singapore, International trade, Export Pages: 24 (6510 words) Published: October 10, 2012
Country Analysis of SINGAPORE
Submitted By: Rohit.J.Bathija. Roll no: 12. Course: M.M.S 2nd Year. Submitted To: Prof. Kavita Kanabar. Vivekanand Education Institute of Management Studies & Research. Chembur (E), Mumbai.


Table Of Contents

Page. 1


Geographic Location

SINGAPORE is situated in south of Asia and enjoys a geographical advantage from the point of view of exports as it has the Pacific Ocean on one side and Indian Ocean on the other and it is close to countries like India and Australia.

Page. 2


Flag Of Singapore

The national flag of Singapore was 1st adopted in the year 1959; it was reconfirmed as the national flag when the republic gained independence in August 1965. A horizontal bicolour of red over white, Charged in white in the canton with a crescent facing the fly and a pentagon of 5 stars.

Page. 3


Facts And Statistics
 Location: South-eastern Asia, islands between Malaysia and Indonesia  Capital: Singapore  Ethnic Make-up: Chinese 76.7%, Malay 14%, Indian 7.9%, other 1.4%  Religions: Buddhist (Chinese), Muslim (Malays), Christian, Hindu, Sikh, Taoist, Confucianism  Language: Mandarin, Malay, Tamil and English (For business and politics, English is the language of choice). Economic: Pre -Independence: In 1965, Singapore was the capital of the British Straits Settlements, a Crown Colony. It was also the main British naval base in East Asia naval base in the region, as well as hosting the largest dry dock in the world at that time in the form of the Singapore Naval Base, it was described in the press as the 'Gibraltar of the East'. The opening of the Suez Canal in 1869 caused global trade to boom, and Singapore became a major world trade node, and the Port of Singapore became one of the largest and busiest ports in the world. Before independence in 1965, Singapore had a GDP per capita of $511, then the third-highest in East Asia. After independence, foreign direct investment and a state-led drive for industrialisation based on plans by Goh Keng Swee and Albert Winsemius created a modern economy. Today, Singapore has a highly developed market-based economy, based historically on extended entrepôt trade. Along with Hong Kong, South Korea and Taiwan, Singapore is one of the original Four Asian Tigers. The Singaporean economy is known as one of the freest, most innovative, most competitive, and most business-friendly Singapore is the 14th largest exporter and the 15th largest importer in the world. The country has the highest trade-to-GDP ratio in the world at 407.9 percent, signifying the importance of trade to its economy, investment because of its location, corruption-free environment, skilled workforce, low tax rates and advanced infrastructure. There are more than 7,000 multinational

Page. 4


corporations from the United States, Japan, and Europe in Singapore. There are also 1,500 companies from China and 1,500 from India. Foreign firms are found in almost all sectors of the economy. Singapore is also the second largest foreign investor in India. Roughly 44 percent of the Singaporean workforce is made up of non-Singaporeans. Over ten free trade agreements have been signed with other countries and regions. Singapore is a world leader in several economic areas: The country is the world's fourth leading financial centre, the world's second-biggest casino gambling market, one of the world's top three oil refining centres, the world's largest oil-rig producer, and a major ship-repairer. The port is one of the five busiest ports in the world. The World Bank has named Singapore as the easiest place in the world to do business and ranks Singapore the world's top logistics hub. It is also the world's fourth largest foreign-exchange trading centre after London, New York and Tokyo.  Tourism Sector : Tourism also...
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