Singapore

Geography

Singapore consists of 63 islands, including mainland Singapore.

Economy

Singapore has a highly developed market-based economy. The economy depends heavily on exports and refining imported goods, especially in manufacturing. This explains why the country is faring so badly in the current global recession.  It has one of the busiest ports in the world and is the world's fourth largest foreign exchange trading centre after London, New York City and Tokyo. Singapore has 14 bilateral and multilateral trade agreements worldwide. It is a major Asian transportation hub, positioned on many sea and air trade routes.

Singapore introduced a Goods and Services Tax (GST) in April 1994 substantially increasing government revenue and stabilising government finances. 

General information:

• The currency of Singapore is the Singapore dollar.
• Since independence, Singapore's standard of living has risen dramatically.  
• Singapore maintains diplomatic relations with 175 countries. 
• Singapore has several long-standing disputes with Malaysia
• The official languages are English, Malay, Chinese (Mandarin) and Tamil.

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