Capita: Singapore and Gdp

capita: If measured by purchasing power parity, its GDP per capita that year was 148 percent that of the US. With important access to sea routes, one quarter of all global trade and energy resources reportedly go through Singapore, according to Global Times China. But now, this Asian nation is facing severe challenges. According to the 2015 article "How Singapore achieved a higher per capita GDP than the US" by John Ross, a senior fellow with Chongyang Institute for Financial Studies at Renmin University of China in 2013, Singapore GDP per capita was 104 percent of that of the US, calculated at current exchange rates. According to the Monetary Authority of Singapore , Singapore central bank, in the third quarter of 2016, the country GDP growth unexpectedly shrank an annualized 4.1 percent from the previous three months, the country sharpest quarterly contraction in four years. Problems in the manufacturing and services sectors are the main reasons for the decline in the economy. The MAS also reported that growth in Singapore is not expected to pick up significantly in 2017. (news.financializer.com). As reported in the news.