Macroeconomic study of Singapore

Abstract

Singapore is one of the major ASEAN economies, with a GDP of $318.9 billion and GDP per capita of $62,100 (one of the highest in the world). The economy is interesting from multiple aspects which include low tax rates (14.2% of GDP), 0% contribution from agriculture, pro-business policies and the highest trade-to-GDP ratio of 400% (Singapore port being the second-busiest in the world by cargo-tonnage). This is in stark contrast to economies such as Indonesia which seem to be languishing given the global downturn. The idea of the project is to do a 360 degree study of the economy of Singapore, looking at the macro-economic variables and coming up with a whole story and key learnings that could be absorbed.