After early years of turbulence and despite lacking natural resources and a hinterland, the nation rapidly developed to become one of the Four Asian Tigers.

With its growth based on international trade and economic globalisation, it integrated itself with the world economy through free trade with minimal-to-no trade barriers or tariffs, export-oriented industrialisation, and the large accumulation of received foreign direct investments, foreign exchange reserves, and assets held by sovereign wealth funds.

As a highly developed country, it has one of the highest GDP per capita (PPP) in the world.

Identified as a tax haven, Singapore is the only country in Asia with a AAA sovereign credit rating from all major rating agencies.

It is a major aviation, financial, and maritime shipping hub and has consistently been ranked as one of the most expensive cities to live in for expatriates and foreign workers.

Singapore ranks highly in key social indicators: education, healthcare, quality of life, personal safety, infrastructure, and housing, with a home-ownership rate of 88 percent. 

Singaporeans enjoy one of the longest life expectancies, fastest Internet connection speeds, lowest infant mortality rates, and lowest levels of corruption in the world.

Singapore is a unitary parliamentary republic with a Westminster system of unicameral parliamentary government, and its legal system is based on common law. While the country is de jure a multi-party democracy with free elections, the government under the People's Action Party (PAP) wields widespread control and dominance over politics and society without much electoral competition. The PAP has governed the country continuously since full internal self-government was achieved in 1959, and currently holds a supermajority with 79 out of 93 elected seats in Parliament. One of the five founding members of ASEAN, Singapore is also the headquarters of the Asia-Pacific Economic Cooperation Secretariat, the Pacific Economic Cooperation Council Secretariat, and is the host city of many international conferences and events. Singapore is also a member of the United Nations, the World Trade Organization, the East Asia Summit, the Non-Aligned Movement, and the Commonwealth of Nations.