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Introduction
Singapore is an economically well-developed country; it enjoys a remarkably open and corruption free environment, stable price and a GDP per capita that is higher than most developed countries.
Singapore depends heavily on exports, particularly in technology and biomedical, and services provide the main source of revenue for its economy.
Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue to establish itself as Southeast Asia’s financial and high tech hub.
A Production Output Performance Analysis, Labour Market Analysis and Price Level Analysis will be provided from the viewpoint of Singapore’s economy to assess the performance trends over the past 10 years and what measures Singapore government has taken to achieve such performance.
Production Output Performance Analysis
The graph above shows Singapore GPD at constant prices
The graph above shows Singapore GDP annual growth rate
The graph above shows Singapore GDP per capita based on PPP Singapore has strong economic growth since 2004 after adapting to several shocks which include the global economic slowdown in 2001, the outbreak of SARS and the Iraq war in 2003, which affect tourism badly
Singapore has a GDP growth of average 8.6% from 2004-2007. The economy contracted 0.6% in 2009 due to financial crisis, but rebounded 15.2% in 2010 on the strength of renewed exports, before slowing to 6.0% in 2011, 2.5% in 2013 and 3.8% in 2013, largely due to low demand for exports during the second European recession.
Government’s measures to achieve the economic performance –
Monetary policy in Singapore centred on the exchange rate of Singapore dollars, this reflects the fact that in Singapore small and open economy, the exchange rate is the more effective tool in maintaining price stability
Fiscal policy can decrease unemployment by

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