Singapore has a highly developed market-based economy, (1) historically revolves around extended trade. Along with Hong Kong, South Korea and Taiwan, Singapore is one (2) The Four Asian Tigers. The economy depends heavily on exports , refining, imported goods, especially in manufacturing.

Manufacturing constituted 26 (3) of Singapore’s GDP in 2005. The manufacturing industry is well-diversified into electronics, petroleum refining, chemicals, (4) engineering and biomedical sciences manufacturing. In 2006, Singapore produced about 10 percent of the world’s foundry water output. Singapore is the busiest port in the world in terms of tonnage shipped. Singapore is the world’s fourth largest foreign exchange trading centre after London, New York City (5) Tokyo.