TODAY
The Port of Singapore is the collective facilities and terminals that conduct maritime trade handling functions in Singapore's harbors and which handle Singapore's shipping. Singapore is currently the world's busiest port in terms of total shipping tonnage, it also transships a fifth of the world's shipping containers as the world's busiest container port, half of the world's annual supply of crude oil, and is the world's busiest transshipment port. It was also the busiest port in terms of total cargo tonnage handled until 2005, when it was surpassed by the Port of Shanghai.
http://en.wikipedia.org/wiki/Port_of_Singapore
HISTORY
Before 1819
In the late 13th century, Singapore was established on the north bank of the Singapore River around which was called the Old Harbor. It was the only port in the southern part of the Strait of Malacca servicing ships and traders in that region, competing with other ports along the coast of the Malacca Strait such as Jambi, Kota Cina, Lambri, Semudra, Palembang, South Kedah and Tamiang.First, it made available products that were in demand by international markets including top-quality hornbill casques, lakawood and cotton. These were unique in terms of their quality. Secondly, Singapore acted like a gateway into the regional and international economic system for its immediate region. Singapore was the main source of foreign products to the region.
By the 15th century, although Singapore had dropped to an international trading port due to the ascendance of the Malacca Sultanate, trade still occured. Singapore provided other regional ports with local products demanded by international markets. For example, blackwood was exported from Singapore to Malacca, and was purchased by Chinese traders and shipped to China for making furniture. In the early 17th century, Singapore's main settlement and its port were destroyed. After this, there was no settlement or port at Singapore.Not until 1819, Sir Stamford Raffles established a new settlement and international port for britain.
By attracting traders to the new port, Raffles directed that land along the banks of the Singapore River. By the 1830s, Singapore had overtaken Batavia as the centre of the Chinese junk trade, and also become the centre of English country trade, in Southeast Asia. This was because Southeast Asian traders preferred the free port of Singapore. Singapore had also supplanted Tanjung Pinang as the export gateway for the gambier and pepper industry of the Riau–Lingga Archipelago by the 1830s, and South Johor by the 1840s. It became the centre of the Teochew trade in marine produce and rice.
As maritime trade increased in the 19th century, Singapore became a key port of call for sailing and steam vessels in their passage along Asian sea routes. From the 1840s, Singapore became an coaling station for steam shipping networks that were forming. Towards the late 19th century, Singapore became a staple port. Roads and railways were constructed to transport primary materials such as crude oil, rubber and tin from the Malay Peninsula to Singapore to be processed into staple products. It is then shipped to Britain and other international markets. Through out the colonial period, the port of Singapore had the mosgt important role.
Since 1963
Singapore cannot be part of the British Empire when it merged with Malaysia in 1963. The processing in Singapore of raw materials extracted in the Peninsula was drastically reduced.
Since Singapore's full independence in 1965, it had to compete with other ports in the region to attract shipping and trade at its port. It has done so by developing an export-oriented economy based on value-added manufacturing. It gets raw or partially-manufactured products from regional, global markets and exports value-added products back to these markets through market access agreements.
Keppel Harbor is now home to three container terminals. Other terminals were built in Jurong and Pasir Panjang as well as in Sembawang in the north.
In the 1990s the Port became more famous and overtook Yokohama, and singapore became the busiest port for shipping tonnage.
ECOMONY OF SINGAPORE
The economy of Singapore is a developed country and highly developed state capitalist mixed economy. It has an open business environment, relatively corruption-free and transparent, stable prices, and one of the highest per capita gross domestic products in the world. Exports in electronics and chemicals and services provide the main source of revenue for the economy, which allows it to purchase natural resources and raw goods that it does not have. Singapore relys on an extended concept of entrepot trade, by purchasing raw goods and refining them for re-export, s Singapore also has a strategic port making it more competitive than many of its neighbors to carry out entrepot activities. The singapore's port is the busiest in the world.
On 14 February 2007, the government said that the economic growth for the whole year of 2006 was 7.9%, higher than what they orginally expected 7.7%.Unemployment rate is around 2.2% as on 20th Feb 2009.
TRADE, INVESTMENT
Despite its small size, Singapore is currently the fifteenth-largest trading partner of the United States. Singapore's principal exports are petroleum products, food/beverages, chemicals, textile/garments, electronic components, telecommunication apparatus, and transport equipment. Singapore's main imports are aircraft, crude oil and petroleum products, electronic components, radio and television receivers/parts, motor vehicles, chemicals, food/beverages, iron/steel, and textile yarns/fabrics.
The government also has encouraged firms to invest outside Singapore, with the country's total direct investments abroad reaching $39 billion by the end of 1998.
http://en.wikipedia.org/wiki/Economy_of_Singapore
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