Singapore has a highly developed trade-oriented market economy. Singapore’s economy has been ranked as the most open in the world, 7th least corrupt, most pro-business, with low tax rates (14.2% of Gross Domestic Product, GDP) and has the third highest per-capita GDP in the world in terms of Purchasing Power Parity (PPP).

Government-linked companies play a substantial role in Singapore’s economy, which are owned through thesovereign wealth fund Temasek Holdings, which holds majority stakes in several of the nation’s largest companies, such as Singapore Airlines, SingTel, ST Engineering and MediaCorp.

GDP                            US$307.9 billion (nominal; 2015 est.)

                                  Int$470.551 billion (PPP; 2015 est.)

GDP                            36th (nominal, 2014) / 40th (PPP, 2014)

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