Singapore Tenders

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Capital Singapore
ISO 3166 Code SG
Population 5,469,700
Area, Sq KM 692.7
Currency Singapore dollar
Official Language English, Chinese, Malay, Tamil
GDP, Billion USD 2,97,941
GDP Growth Rate, % 3.0
Inflation, Avg CP, % Chng N/A
Interest Rates, % N/A
Unemployement Rate, % 2
Exchange Rate, 1 USD Equals 1.33
International dial code 65
Time Zone GMT+08:00
Internet TLD .sg

Singapore is officially known as the Republic of Singapore. It is often referred to as the Lion City as well along with the Garden City, and the Red Dot. Singapore is a leading global city-state as well as an island country located in Southeast Asia and lies off the southern tip of the Malay Peninsula. Singapores territory comprises of the diamond-shaped main island along with approximately 60 significantly smaller islets. The islands were settled during the second century AD and consequently belonged to a series of local empires. Modern Singapore was founded in the year 1819 as a trading post of the East India Company. After the company went off existence, the British secured sovereignty of the islands in the year 1824. Japanese occupied the country during World War II and in 1963; Singapore obtained its freedom from United Kingdom.Despite undergoing massive turbulences during the early years, Singapore embarked upon a new journey on the path of development on the basis of its human capital as well as Asian tiger economy. Singapore is known to be a global commerce along with being the financial as well as transportation hub. Since the 1990’s, Singapore also has the 3rd-largest foreign exchange center and 4th-largest financial center. According to the World Banks, Singapore was considered the easiest place to do business for nine consecutive years. The diversified as well as globalized economy depends entirely on trade along with manufacturing which accounts for almost 30 percent of the total GDP as of 2013. For the last one decade, Singapore has been the only Asian country that had the top AAA rating from all prominent credit rating agencies such as Standard & Poors, Moodys and Fitch Ratings. The country also ranks quite high in terms of national social progress. As far as the Human Development Index is concerned, Singapore is 9th globally and ranks 1st in Asia which includes life expectancy, healthcare, quality of life, education, personal safety and housing. Even though income inequality is on the higher side, 90% of citizens have their own homes and the nation also has one of the highest per capita incomes. The total population of this culturally diverse as well as cosmopolitan country is approximately 5.5 million out of which 38% of whom are permanent residents and other include foreign nationals. Singapore has a powerful impact and influence on the global affairs relative to its size and leads some analysts to classify it as a middle power. It is also ranked as most influential city in Asia and 4th in the world according to Forbes.

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