Cities and towns all over the world are known for their specific trades, economics, and lifestyles. You can travel all over the world and never really get to know a place until you have lived there and worked there. Singapore, the former British trading post, has only been around for 2 short decades, and has now made a name for itself as having a combination of modern sky-scrapers, remnants of tropical rainforests, and ethnic urban areas, each with a personality of their own.
According to the Singapore Travel Guide website, some of this young town’s main imports and exports include food, chemicals, mineral fuels, machinery and equipment. Singapore’s economy mainly thrives on ship building and repairing, oil refining, electronics and information technology, and banking and financing.
Another up and coming economic rise is tourism. Since the town is smaller than and not as developed as some of the bigger towns or cities in the area, they must trade. Their main trade partners include China, Hong Kong, Japan, Korea and Malaysia. Trading is the most important process for Singapore. The total value of their trade is three times GPD. This economic activity compensates for Singapore’s lack in natural resources.
Like the rest of the world, Singapore has been struggling with economic woes, but with their continuous trading with other countries, oil refining, and technology, it is hard for Singapore to not continue to thrive for decades to come.