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HIGH COMMISSION OF INDIA SINGAPORE SINGAPORE-FACTSHEET Location Situated approx. 137 km north of the Equator, at the tip of the Malaysian Peninsula, between latitudes 1o09’N and 1o29’N and longitudes 103o36’E and 104o25’E; immediate neighbours are Malaysia and Indonesia Capital Singapore Area 710.2 sq. km. Climate Singapore is an equatorial country with a relatively uniform temperature, abundant rainfall and high humidity. Average daily temperature 24.7 to 31.1 degrees C. December and January are generally less warm. Rains throughout the year; maximum rainfall in November to January. Annual rainfall 2,325 mm. Average daily relative humidity 84.3 per cent Population 3.82 million Singapore Residents, 3.29 million Singapore Citizens, 0. 53 million Permanent Residents (PRs) and 1.5 million nonresident foreigners. Total population 5.31 million (2012) Ethnic composition of Resident Population (citizens + PRs)– Chinese 74.2%; Malays 13.3%; Indians 9.2%; others 3.3% (2012) Density 7422 persons per sq km (2012) Growth rate of Total Population: 2.5 % per annum Literacy 96.4% ; Fertility 1.29%; Life expectancy: Total 82 years, males 79.6 years, females 84.3 years (2011) Language English, Mandarin Chinese, Malay and Tamil are all official languages; the constitution of the Republic of Singapore provides that the national language is Malay and shall be in Roman script; the administrative language is English. Religion Buddhism (33%), Taoism (11%), Islam (15%), Christianity (18%), Hinduism (5.1%) {2010 census}. As a secular state, Singapore constitutionally guarantees freedom of worship. Political Structure Constitutional Republic, with a parliamentary system of Government based on universal adult suffrage. Since 1993, Singapore citizens elect the President for a fixed term of six years. Executive powers vested in the Cabinet headed by the Prime Minister. People’s Action Party (PAP) in power since 1959. Currently it has 81 out of 87 elected parliamentary seats. Last General elections held on 7th May 2011. Head of State (President) Mr. Tony Tan Keng Yam Head of Govt (Prime Mr. LEE Hsien Loong Minister) Deputy Prime Minister & Mr. Teo Chee Hean Coordinating Minister for National Security & Minister for Home Affairs Deputy Prime Minister & Mr. Tharman Shanmugaratnam Minister for Finance & Minister for Manpower Minister for Trade and Mr. Lim Hng Kiang Industry Minister for Defence Dr. Ng Eng Hen Minister for Foreign Mr. K. Shanmugam Affairs & Minister for Law MAJOR ECONOMIC INDICATORS Economy Basically entrepot economy, dependent on foreign trade and investment; Focus on financial services, tourism, oil rig/ship construction, shipping logistics, high tech industries like petro/biofuel refineries, petrochemicals, electronics, pharma, aircraft MRO, R&D in biosciences etc. Currency Singapore Dollar Rate of Exchange : US$1 = Sing $ 1.2738 (July, 2013) Inflation 4.6% ( 2012) Unemployment 2.0% (2012) GDP Per capita GDP US$ 65,048 in 2012 GDP amount S$345.561 billion in 2012 at current market prices. (S$ 305.202 billion in 2012 at 2005 market prices) GDP growth 2007 2008 2009 2010 2011 2012 7.7% 1.1% -1.3% 14.5% 4.9% 1.3% Forex Reserves US$ 261.096 billion in July 2013 FDI in Singapore 2006 2007 2008 2009 2010 2011 (p) (in billion SGD) 370.471 465.476 508.318 564.076 621.885 650.910 Sector wise FDI in 1. Financial & Insurance Services (263.88) 4. Transport & Storage (37.52) Singapore for 2010 2. Manufacturing (130.84) 5. Professional, Sci&Tech, Admin Services (in billion SGD) 3. Wholesale & Retail Trade (109.85) (35.57) 6. Real Estate (19.72) Country wise FDI in USA (72.777) Japan (51.990) Singapore -2011 Netherland (65.978) India (24.053) (in billion SGD) UK (56.658) Norway (21.227) Total Direct Investment China (82.1) Australia (35.44) Abroad by Singapore - HongKong (38.49) Malaysia (34.34) 2011 (in billion SGD) UK (37.12) India (11.57) Singapore’s Top 10 1. Malaysia 6. South Korea Trading Partners- 2. PRC 7. Japan 2012 3. Indonesia 8. Taiwan 4. United States of America 9. Thailand 5. Hong Kong 10. India Singapore’s Top 10 1. Malaysia 6. Japan Import Sources-2012 2. PRC 7. Indonesia 3. United States of America 8. Saudi Arabia 4. South Korea 9. UAE 5. Taiwan 10. India Singapore’s 2009 2010 2011 2012 Jan-Jul Jan-Jul Global Trade 2012 2013 SG Total Trade 747,417.400 902,062.584 974,396.345 984,883.578 584,662,088 561,645,495 (% change y-o-y) (-19.43) (20.69) (8.02) (1.08) (4.81) (-3.94) SG Imports 356,299,229 423,221.839 459,655.129 474,554.180 281,870,017 268,025,495 (% change y-o-y) (-20.98) (18.78) (8.61) (3.24) (7.23) (-4.91) SG Exports 391,118,171 478,840.745 514,741.216 510,329.398 302,792,071 293,620,001 (% change y-o-y) (-17.96) (22.43) (7.50) (-0.86) (2.65) (-3.03) SG Dom Exports 200,003,141 248,609.828 281,349.653 285,146.924 170,589,676 158,734,454 (% change y-o-y) (-19.23) (24.30) (13.17) (1.35) (6.73) (-6.95) SG Re-Exports 191,115,030 230,230.917 233,391.563 225,182.474 132,202,394 134,885,547 (% change y-o-y) (-16.60) (20.47) (1.37) (-3.52) (-2.17) (2.02) Source: Dept of Statistics, Singapore, (In Million SGD) India-S’pore 2008-09 2009-10 2010-11 2011-12 2012-13 2012 2013 Bilateral Trade (Apr- Jun)* (Apr-Jun) Exports to SG 8,444.9 7,592.1 9,825.44 16,857.71 13,608.65 3,603.33 3,952.38 (% change y-o-y) (14.44) (-10.10) (29.42) (71.57) (19.27) (37.56) (9.69) Imports from SG 7,654.8 6,454.5 7,139.31 8,600.29 7,754.38 1,871.10 1,478.21 (% change y-o-y) (-5.76) (-15.68) (10.61) (20.46) (-9.84) (-29.53) (-21.00) Total Trade 16,099.8 14,046.7 16,964.75 25,458.00 21,363.03 5474.43 5430.59 (% change y-o-y) (3.86) (-12.75) (20.77) (50.06) (-16.09) (-35.03) (-0.80) Source: Dept of Commerce, India (In Million USD) * Percentage obtained on comparison with Apr-Jun 2011 Outward FDI from India to Singapore Source: RBI, (in USD Million) S No Year Amount Cumulative Amount 1. 2004-05 351.12 351.12 2. 2005-06 409.16 760.28 3. 2006-07 1045.13 1805.41 4. 2007-08 8370.6 10,176.01 5. 2008-09 3749.65 13,925.66 6. 2009-10 3798.47 17,724.13 7. 2010-11 3980.18 21,704.31 8. 2011-12 2241.6 23,945.5 9. 2012-13 ( Upto 754.45 24,700.35 Sep12) INDIA SPECIFIC INFORMATION Indian origin S’poreans Total number: 3,19,000 approx Tamilian -64% Sindhi -6% Punjabi (mainly Sikhs) - 8% Gujarati -2% Malayali - 8% Others -12% Indian Expatriates Approx 3,50,000 in July 2011 serving in financial services & computer/software engineers, students, construction/marine engineering sectors Indian organizations Banks ICICI Bank, State Bank of India, AXIS Bank, Indian Overseas with offices in S’pore Bank, Bank of India, Indian Bank, United Commercial Bank, EXIM Bank, Bank of Baroda PSU’s MMTC, BEL Government GOI Tourist Office Organisations Others CII, EEPC, India International Insurance. Around 3800 Indian Companies registered in Singapore Indian Media in Business Standard has a Singapore Correspondent. PTI has a freelance Singapore reporter. Vijay TV, Sun TV, Zee network, Star Plus, Sony Entertainment and Asianet are available on cable channel. .
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