Resource-Rich Country #5: The Lion City As middleman to one of the busiest ports in the world, Singapore ships a fifth of the world's shipping containers, half of the world's annual supply of crude oil, and is the world's busiest transshipment port to connections in over 600 others in 123 different countries. A significant amount of Singapore’s GDP depends on importing and re-exporting natural resources and other manufactured goods after they have been refined and shaped in some manner. The city-state is also the fifth-wealthiest economy in the world in terms of purchasing power despite being weakened in 2009 from the financial markets and severe drop in global economic trade. Foreign exchange reserves are important indicators of ability to repay foreign debt and for currency defense. Singapore currently ranks in the list of the ten largest countries by foreign exchange reserves with $221,398 million in Forex reserves and gold. Singapore's Key Economic Investment OutlookThe Monetary Authority of Singapore has adopted a policy stance of zero percent appreciation of the Singapore dollar exchange rate. Meaning, in a situation where inflation is dropping — as it is now in Singapore — its currency will maintain strength and stability, without putting exporting power in jeopardy. There is one way for Singapore to keep its currency from appreciating too quickly. Find out what and more when you sign up to watch the Hot Commodities Guide. In order to access Resource-Rich Country #6, you will need to sign up for the broadcast!    |
