Singapore's economic transformation since independence in 1965 is highlighted by its exceptional rise from a relatively poor nation to one of the wealthiest globally. Its GDP per capita has doubled in real terms over the past two decades, reaching approximately $88,000. This is a stark contrast to its economic standing at independence, where it was poorer than countries like South Africa and Jordan.
Since its independence almost 60 years ago, Singapore has become a beacon of prosperity. In a part of the world where middle-income status is the norm, the city-state is now the richest country for many thousands of miles in any direction. At around $88,000, its GDP per person has doubled in real terms over the past 20 years. At the moment of its independence in 1965, the country was poorer on the same basis than South Africa or Jordan.
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