Technology Competitive Intelligence Report: Singapore, a highly developed and successful free market economy, enjoys a remarkably open and corruption-free environment, stable prices, and one of the highest per capita GDPs in the world. Singapore is one of the world's greatest commercial centers, with a large, modern port. Commerce has historically been the chief source of income. For many years the largest importer in SE Asia, Singapore is a free port and an entrepôt that reexports more than half of what it imports, notably rubber, petroleum, textiles, timber, and tin. It also exports locally manufactured goods such as computer and telecommunications equipment, petroleum products, oil drilling equipment, plastics, rubber products, and processed food and beverages. The country imports most of its food requirements. The country's chief trading partners are Japan, the United States, Malaysia, and Indonesia; Singapore signed a free-trade agreement with the United States in 2003. The country has a number of large petroleum storing and refining facilities, and Keppel Harbor is one of the world's largest container-handling facilities. Development of the former British naval base at Sembawang on the Johore Strait as a commercial shipyard helped to enhance Singapore's status as a major center for shipbuilding and repairs. - Source: The World Fact Book 2003 and other sources
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