Singapore is a small diamond-shaped island nation. With land limited, water resources and a mixture of ethnic cross-section of the population to cope Singapore in economic terms is doing wonderfully well.
A capitalist mixed economy, the Government of Singapore strives to provide an environment of businesses open to the most profitable companies with foreign companies. The economy of the Singapore it exports chemical products, services, and electronics. The key here is to gather sufficient currency necessary for the purchase of natural resources and raw materials. They are these raw materials processing, and then export the finished product. The key industries in this field are the refined oil industry and the wafer manufacturing. Other main industries of the economy are rubber processing and its products, financial services, send repair, food processing and beverages.
Supply of well connected and well developed infrastructure is another key area especially airport Changi and ports that are most active in the world. Singapore has a large number of skilled and educated workforce that in turn with specialized procedures that allow more than Singapore agreement to shake more oriented to export products
In recent years, Singapore economy has witnessed high rates of growth of its neighbours, thus surpassing to. Signs of an economic boom are witnessed by the influx of tourists, the migration of the foreign population in Singapore to related works or for educational purposes, the real estate boom that is clearly shows not only an increase in rates of property, but also in rental rates. Shopping malls in Singapore especially those of Orchard Road, Bugis Junction, etc. of China City show hectic activity and people come to these markets for shopping.
The influx of immigrants and expatriates foreigners has demonstrated considerable increase, implying increased economic activity and positive signs of growth in the economy. Many immigrants have bought apartments or houses. Promotion of the tourist activity has been seen by the resurgence of fantasy hotels, entertainment centers and casinos, amusement parks and theme parks. All these go packaged leader in good revenue gains.
Singapore, economy is therefore witnessed a period of a good growth rate, high rate of inflation, accompanied by decline in exports. At the same time, the Government hopes the increase in population which will lead to an increase in demand, and therefore keep the Singapore economy manufacturing activity. Singularity Singapore economy and growth lies in its principles of free market economy with relatively corruption free political system and bureaucracy.
For more information about Singapore economy, please visit the economy of Singapore
Smith is the Coordinator for http://www.focussingapore.com - content this Web site is devoted exclusively to focus on Singapore. We offer all the information related to Singapore.
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