TheStreet.com Ratings: Finding Growth in Singapore

Long before China and India hit the modern world economic stage, Singapore, which gained its independence from the Malaysian Federation in 1965, was the gateway to commerce in Asia.

The country's port is among the world's largest and is second only to Hong Kong as a transshipment hub. However, due to its unique position as a key crossroads in the global trading system, Singapore ranks as the world's busiest port overall. In fact, it handles a quarter of the world's shipping containers and half of the world's supply of crude oil.

With a population of around 4.6 million, the country generates a per capita gross domestic product equivalent to $44,600, one of the highest per capita GDPs in the Asian region, trailing only Hong Kong and Japan. In addition, according to the quality-of-life index put together by the Economist Intelligence Unit, Singapore has the highest standard of living in Asia and is ranked 11th in the world.

The country's economic fundamentals -- year-over-year GDP growth of 8.1% as of October, low consumer-price inflation of 0.7%, a 2.8% jobless rate and the largest current-account surplus (28.5%), as a percentage of GDP, of any Asian nation -- are very healthy. Singapore also enjoys a budget surplus equal to 6% of its GDP. ...