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Its economic complexity index is 2.61 which results from its diversified production of goods and services. It ranks fourth among countries with the most sophisticated economies after Japan, South Korea, and Switzerland. During the last five reported years the exports of Singapore have changed by $43.9B from $279B in 2013 to $323B in 2018.In 2018 Singapore imported $323B, making it the number 16 trade destination in the world.
In 2018 Singapore exported a total of $323B, making it the number 17 exporter in the world. The exports dealt in by Singapore are refined petroleum, semiconductor devices, computers, and integrated circuits. Switzerland’s top exports include gold, human or animal blood, jewelry, and base metal watches among other products. In addition, it also explains the international variations in the income inequality.All maps, graphics, flags, photos and original descriptions © 2020 worldatlas.com In terms of GDP Per Capita, Malaysia was ranked 68 with a GDP Per Capita of $11,373, and Singapore was ranked 9 with a GDP Per Capita of $64,582. The Economic Complexity Index (ECI) is a holisticmeasure of the productive capabilities of large economic systems, usually cities, regions, or countries. Their prowess in production is a result of both their advancement in technology and highly skilled labor. It is the 7th largest exporting country in the world. That same year, New Zealand ranked 49 in the Economic Complexity Index (ECI 0.46), and 58 in total exports ($40.1B). Overview: In 2018 Singapore was the number 33 economy in the world in terms of GDP (current US$), the number 17 in total exports, the number 16 in total imports, and the number 6 most complex economy according to the Economic Complexity Index (ECI).
In 2018, Singapore exported $323B and imported $323B, resulting in a negative trade balance of -$679M. The country exported goods worth $483 billion in 2016.
Learn more about ECI in the OEC Academy. To achieve this goal, the ECI defines the knowledge available in a location, as the average knowledge of the activities present in it, and the knowledge of an activity as the average knowle… The top South Korean exports include integrated circuits, cars, refined petroleum, and vehicle parts among others. To explore different rankings and vary these parameters visit the custom rankings section.The highest complexity exports of Singapore according to the product complexity index (PCI) are The top export opportunities for Singapore according to the relatedness index, are The product space is a network connecting products that are likely to be co-exported. The basis of the computation of economic complexity is economic diversity and economic ubiquity.
Relatedness measures the distance between a product, and all of the products it is currently specialized in.The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities.
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Economic complexity Index Singapore