The Republic of Singapore, is an island city-state and the smallest nation in Southeast Asia with a population of 4.8 million. Foreign direct investment and a state-led drive to industrialization have created a modern economy focused on industry, education and urban planning. Singapore is the 5th wealthiest country in the world in terms of GDP (PPP) per capita.
Singapore has a highly developed market-based economy, which has historically revolved around extended entrepôt trade, in other words an export driven economy hugely dependant on export of goods to other countries. Along with Hong Kong, South Korea and Taiwan, Singapore is one of the Four Asian Tigers. The economy depends heavily on exports, particularly in consumer electronics, information technology products, pharmaceuticals, and on a growing service sector apart from refining imported goods.