Business and Market Overview on Singapore

Singapore is a city-state and for that reason nearly all its population live in an urban community. Most Singaporeans live in high-rise apartments or flats accounting for almost 90% of the families while the remaining 10% live on landed property.

Singapore is the most advanced economy among the Southeast Asian countries with a GDP per capita of US$25,207 in 2004 which is comparable to a lot of advanced economies in the European Union. Many US, European and Japanese multinational companies have established Singapore as a regional office for their business operations. Get the best Lloyd SixtyFive (D09) Freehold – Luxury Home Singapore for Developer Sale in Singapore.

Singapore’s GDP grew at an average of 2.7% annually from 2000 to 2004 to reach US$106.9 billion by 2004 while inflation staying below 2.0%. Though Singapore’s economy is the most advanced among the Southeast Asian nations, unemployment increased from 1.8% during the Asian financial crisis of 1997 to 5.3 percent in 2004. To diversify and expand the nation’s economy, the government is growing Singapore into a regional hub for finance and high technology.

The service sector accounted for 66.2% of Singapore’s GDP in 2004 while the manufacturing sector accounted for 33.7%. Agriculture plays a minimal role in Singapore’s economy and accounted only 0.1 percent of the nation’s GDP. Major industries in Singapore include electronics, chemicals, financial services, oil refining, food processing, ship repair, offshore platform construction, biotechnology and entrecote trade. You can purchase Singapore Luxury Real Estate Properties through many online relevant resources.

Singapore’s population of 4.2 million in 2004 is predominantly Chinese accounting for 77 percent of the populace. Other ethnic communities include Malays (14 percent) and Indians (8%). The Chinese are generally agnostic, Buddhist, Tao or adhere to the Christian faith while Malays are mostly Muslims and Indians generally Hindus, Christian or Muslims. Main languages used are English (widely spoken and used in business and from the authorities), Chinese (mainly Mandarin and Hokkien), Malay and Tamil.