Since 1960, Singapore's GDP per capita has risen from one-third of that of Western Europe to twice as much

In 1960, Singapore’s GDP per capita — a measure of average income — was a third of the average in Western Europe. It was even lower than Western Europe’s average income in 1900.

Since then, while Western Europe experienced steady growth, Singapore grew even faster. By 1994, it had surpassed Western Europe, and today, its average income is roughly twice as high. This is after adjusting for inflation and differences in living costs between countries.

Singapore became an independent republic in 1965. Key factors in its economic success include anti-corruption policies, investment in education and human capital, and its development as a global financial hub.

Explore how GDP per capita trajectories compare across countries →

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This page was imported from Our World in Data. “Since 1960, Singapore's GDP per capita has risen from one-third of that of Western Europe to twice as much” by Simon van Teutem, published by Our World in Data under CC BY 4.0. Changed here: set as a page, its interactive charts shown as pictures. Data from third parties keeps its own licence.

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