Category Archives: Economics

How large was Export in Singapore’s GDP?

We know that Singapore’s economy is export-dependent. Export refers to export of goods and services from Singapore. Tourism receipts form part of this export figure. The manufacturing of goods for export is a major component of this export figure. Just … Continue reading

Posted in Economics

How big is Tourism Sector in the Singapore Economy?

Tourism took a hit because of Covid-19. Tourists coming to Singapore are non-existent since overseas travelers are not coming into Singapore during the Circuit Breaker period starting 7 April 2020. When tourists come back into Singapore again is still an … Continue reading

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Population of Singapore

Total population in Singapore = 5,704,000 (May 2020 data, MOH Covid-19 Report) Total land area = 722.5 square kilometres (2018 data, SingStat) Population density of Singapore = 7,894 persons per square kilometre Singapore is third highest population density in the … Continue reading

Posted in Economics, Social Issues

Circuit Breaker Stay-at-Home Measures Affecting Singapore Economy

Singapore started the mandatory Stay-at-Home Circuit Breaker from 7 April through to 4 May. With that, most work places are shut and almost all construction sites have stopped work. What we know so far is that the advance estimate shows … Continue reading

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Singapore GDP grew only 0.7% in 2019

“For the whole of 2019, the Singapore economy expanded by 0.7 per cent, slower than the 3.4 per cent growth recorded in 2018.” MTI Press Release 17 February 2020. 2019 turned out to be a particularly bad year for Singapore … Continue reading

Posted in Economics

Austerity Measures on Spending in Forefront again

Singapore’s Real Gross Domestic Products (GDP) grew below 3.0% in year 2008, 2009, 2012, 2014 and 2015. For the past three years, GDP growth rates were 3.0%, 3.7% and 3.1% respectively. As for this year 2019, the Ministry of Trade … Continue reading

Posted in Economics, Financial Management | Tagged ,

Fear of Protectionist United States of America?

On taking office, President Donald Trump moved to withdraw from the Trans-Pacific Partnership (TPP) trade pact. TPP was dead even before it started. So we are back to original position where the existing trade agreements among nations still hold. Until … Continue reading

Posted in Economics, Life Journey | 1 Comment

Singapore economy is trending down

This year is not going to be good, economy-wise. The Gross Domestic Product (GDP) annual growth rates started to go down since 2013 from 4.7% to 2.0% last year. Inflation was down also from 2012 from 4.6% to negative 0.5% … Continue reading

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Job openings are there and why are we not jumping up with joy?

Acting Minister for Education (Higher Education and Skills) said that there are thousands of jobs waiting to be filled (The Straits Times 21 October 2016). These jobs are: 30,000 IT professionals needed by 2017 3,000 PMETs in precision engineering by … Continue reading

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Singapore economy did not feel good

When I was away in Taiwan, I received news that Singapore economy contracted 4.1% quarter-on-quarter for the third quarter ended September 2016. The economy got worse since the start of the year. First quarter GDP growth was 0.1% and the … Continue reading

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