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Singapore PESTLE Insights - A Macroeconomic Outlook Report

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    Country Profile

  • 46 Pages
  • October 2023
  • Region: Singapore
  • GlobalData
  • ID: 4396678
Financial intermediation, real estate and business activities contributed 24.7% to Singapore's gross value added (GVA) in 2022, followed by mining, manufacturing and utilities activities (22.7%), and wholesale, retail and hotels activities (21.4%). In nominal terms, the three sectors are forecasted to grow by 6.6%, 7.8%, and 7.0%, respectively, in 2023.

Singapore's central region acts as hub for most of the financial and professional services firms. The western region is dominated by the port and water transport industry due to its proximity to the port, while the eastern region is dominated by the airline industry due to its proximity to Changi Airport.

The FSSTI Index has been on a volatile trend. As of October 4, 2023, the index stood at 3,184.5, compared to 3,138.9 on October 4, 2022.


  • In 2021, according to Singapore's Deputy Prime Minister, the government issued $68 billion in new bonds to fund substantial infrastructure projects over a span of the next 15 years.

Reasons to Buy

  • Macroeconomic Outlook Report identifies the potentials of the country as an investment destination by analyzing the political, economic, social, technological, legal and environmental (PESTLE) structure.
  • PESTLE Insights provides 360 degree view of the economy which can be used as a strategic tool to understand the market dynamics, business potentials and direction of operations
  • Along with providing the country's snapshot, the report captures the risk factors pertaining to the macroeconomic risks, political environment, legal environment, demographic and social structure effectiveness, technology & infrastructure and natural and geographic aspects that might impact business.
  • This report also highlights key clusters/cities which contribute significantly to the country GDP and population along with major companies' presence in these areas.

Table of Contents

  • List of Exhibits
  • Did You Know?
  • Country Highlights
  • Key Economic Updates
  • Country Snapshot
  • Political Landscape
  • Economic Landscape
  • Social Landscape
  • Technological Landscape
  • Legal Landscape
  • Environmental Landscape
  • Outlook
List of Tables
Exhibit 1: Singapore’s performance in terms of its country risk analysis in comparison to Asia-Pacific and the World average
Exhibit 2: Performance overview (score: 0-100)
Exhibit 3: Broad categories and weights behind the index
Exhibit 4: FSSTI Index, (October 2022 - October 2023)
Exhibit 5: Key sectors contribution to the economy (2017-24f)
Exhibit 6: FDI inflows, FDI outflows, FDI inward stock and FDI outward stock (2018-22)
Exhibit 7: Greenfield FDI projects and net cross border M&As seller deals (2018-22)
Exhibit 8: Key infrastructure indicators (2020)
Exhibit 9: Real GDP and household consumption growth rate (2018-25f)
Exhibit 10: Real GDP growth rate comparison (2022)
Exhibit 11: Volume of exports and imports growth (2018-25f)
Exhibit 12: Current account balance (2018-25f)
Exhibit 13: Top three commodity exports, % of total exports (2018-22)
Exhibit 14: Exports of electrical machinery and equipment and parts thereof, % of world total (2022)
Exhibit 15: Interest rates (October 2018 - October 2023)
Exhibit 16: Exchange rate and inflation (2018-25f)
Exhibit 17: Public finance (2018-25f)
Exhibit 18: General government debt (2018-25f)
Exhibit 19: Unemployment rate (2018-25f)
Exhibit 20: Average annual wages (2018-25f)
Exhibit 21: Labor cost index (2018-25f)
Exhibit 22: Rural/urban share of total population (1995, 2005, 2015, 2025f)
Exhibit 23: Age-group share of total population (1995, 2005, 2015, 2025f)
Exhibit 24: Gender split (1995, 2005, 2015, 2025f)
Exhibit 25: Internet users as a percentage of total population, mobile penetration rate and broadband penetration rate (2022)
Exhibit 26: Number of patents granted per million population (2022)
Exhibit 27: High-technology exports, % of manufactured exports (2021)
Exhibit 28: Rule of law (rankings), 2022
Exhibit 29: Corruption perceptions index (rankings) (2022)
Exhibit 30: Renewable energy capacity (2017-21)
Exhibit 31: CO2 emissions (2018-22)

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Olam
  • Wilmar
  • OCBC Bank