|
|
|
STRUCTURE OF THE ECONOMY
Different policy initiatives are being undertaken for diversifying the economic base of Singapore after the downturn in mid 1980s. High importance is given on the service sector recently. The service sector account for around two thirds of the value added today. Value added by services as percentage of total GDP is estimated at 65 percent in 2003. Value added by industries as percentage of total GDP is
|
estimated at 34.9 percent in 2003. The manufacturing sector has retained its position as the single largest sector in the economy.
The gross capital formation as a percentage of total GDP has increased to 18.3 percent in 2004 in comparison to 14.8 percent in the previous year.
|
|