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The Singapore economy is extremely strong, it is ranked 3rd in the world for GDP per capita, measured by purchasing power parity. Singapore has low tax rates and is renowned for being pro-business.
Singapore is a regional financial centre and has strong electronics, chemical, biotech, energy, tourism and services sectors. Singapore also has a key role in the import and export of many different types of goods, the Port of Singapore is the second-busiest in the world by cargo tonnage.