IMD World Competitiveness Booklet 2022

Competitiveness Country Profiles

Singapore Competitiveness Trends – Overall

OVERALL PERFORMANCE (63 countries)

BASIC FACTS

Rank

2018

2019

2020

2021

2022

Capital Land area (square km '000)

Singapore

1

1

1 2021

3

3

1.343 2021

Exchange Rate (per $)

5.45 2021 48 397.0 2021 33 116,486 2021 02 7.6 2021 15 2.31 2021 21 2.70 2021 03 3.61 2021 43 18.11 2021 01 1,855.4 2020 06 21.65 2020 04

5

Population - market size (millions)

Gross Domestic Product (GDP) (US$ billions)

CHALLENGES IN 2022

GDP (PPP) per capita (US$)

• Navigate challenges posed by external economic developments, including global supply chain disruptions as well as elevated energy and commodity prices. • Support the economic recovery of sectors that continue to be affected by the COVID-19 pandemic. • Help businesses transition towards a low-carbon future. • Ensure that workers continuously develop new skills and sharpen existing ones to meet labour demand in growth sectors.

Real GDP growth (%)

Consumer price inflation (%)

Unemployment rate (%)

Labor force (millions)

Current account balance (% of GDP)

Direct investment stocks inward ($bn)

Direct investment flows inward (% of GDP)

PROVIDED BY: Economics Division, Ministry of Trade and Industry, Singapore

COMPETITIVENESS LANDSCAPE

Economic Performance Government Efficiency

Business Efficiency

Infrastructure

1 1 5 3 Domestic Economy

International Trade

International Investment Employment Prices

Public Finance Tax Policy

Institutional Framework Business Legislation

Societal Framework

Productivity & Efficiency Labor Market Finance

Management Practices

Attitudes and Values

Basic Infrastructure

Technological Infrastructure Scientific Infrastructure

Health and Environment Education

1

6

6 2

6

9 12 11

11

14 12

16

22

25

43

54

PEER GROUPS RANKINGS ASIA - PACIFIC (14 countries)

POPULATIONS < 20 MILLION (36 countries)

2018

2019

2020

2021

2022

2018

2019

2020

2021

2022

1

1

1

1

1

1

2

3

2

5

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