Answer to Question #69472 in Economics of Enterprise for Vicky Wang
major income resource of Singapore
Singapore generates its income from a few major sources: Manufacturing is a very significant source of income and consists mostly of refining imported raw goods, in order to re-export them. The major industries include petroleum refining, chemicals, production of electronics and computer components, mechanical engineering and biomedical sciences manufacturing. Services, mostly banking and finance, also contribute their fair share to the economy and the small country is the world's fourth largest foreign exchange trading centre, after London, New York City and Tokyo.