Singapore Business Guide

 

 

    


Geography


Location:
Southeastern Asia, islands between Malaysia and Indonesia


Geographic coordinates:
1 22 N, 103 48 E


Map references:
Southeast Asia


Area:
total: 697 sq kmcountry comparison to the world: 192
land:687 sq km
water:10 sq km


Area - comparative:
slightly more than 3.5 times the size of Washington, DC


Land boundaries:
0 km

Coastline:
193 km


Maritime claims:
territorial sea: 3 nm
exclusive fishing zone:within and beyond territorial sea, as defined in treaties and practice


Climate:
tropical; hot, humid, rainy; two distinct monsoon seasons - Northeastern monsoon (December to March) and Southwestern monsoon (June to September); inter-monsoon - frequent afternoon and early evening thunderstorms


Terrain:
lowland; gently undulating central plateau contains water catchment area and nature preserve


Elevation extremes:
lowest point: Singapore Strait 0 m
highest point:Bukit Timah 166 m


    Natural resources:
fish, deepwater ports


Land use:
arable land: 0.89%
permanent crops:0.14%
other:98.97% (2011)


Irrigated land:
NA


Total renewable water resources:
0.6 cu km (2011)


Freshwater withdrawal (domestic/industrial/agricultural):
total: 0.19 cu km/yr (47%/53%/0%)
per capita:81.97 cu m/yr (2005)


Natural hazards:
NA


Environment - current issues:
industrial pollution; limited natural freshwater resources; limited land availability presents waste disposal problems; seasonal smoke/haze resulting from forest fires in Indonesia


Environment - international agreements:
party to: Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Hazardous Wastes, Law of the Sea, Ozone Layer Protection, Ship Pollution
signed, but not ratified:none of the selected agreements


Geography - note:
focal point for Southeast Asian sea routes



People and Society


Nationality:
noun: Singaporean(s)
adjective:Singapore


Ethnic groups:
Chinese 74.2%, Malay 13.3%, Indian 9.2%, other 3.3% (2012 est.)


Languages:
Mandarin (official) 36.3%, English (official) 29.8%, Hokkien 8.1%, Tamil (official) 4.4%, Cantonese 4.1%, Teochew 3.2%, Malay (official) 1.2%, other Chinese dialects 1.1%, other 1.7% (2010 est.)


Religions:
Buddhist 33.9%, Muslim 14.3%, Taoist 11.3%, Catholic 7.1%, Hindu 5.2%, other Christian 11%, other 0.7%, none 16.4% (2010 est.)


Population:
5,460,302 (July 2013 est.)country comparison to the world: 115


Age structure:
0-14 years: 13.6% (male 381,145/female 363,504)
15-24 years:18.2% (male 490,526/female 505,713)
25-54 years:50.1% (male 1,336,298/female 1,401,106)
55-64 years:9.9% (male 269,411/female 269,137)
65 years and over:8.1% (male 200,602/female 242,860) (2013 est.)


Dependency ratios:
total dependency ratio: 35.6 %
youth dependency ratio:21.8 %
elderly dependency ratio:13.8 %
potential support ratio:7.2 (2013)


Median age:
total: 33.6 years
male:33.5 years
female:33.7 years (2013 est.)


Population growth rate:
1.96% (2013 est.)


Birth rate:
7.91 births/1,000 population (2013 est.)country comparison to the world: 221


Death rate:
3.41 deaths/1,000 population (2013 est.)country comparison to the world: 217


Net migration rate:
15.08 migrant(s)/1,000 population (2013 est.)country comparison to the world: 5


Urbanization:
urban population: 100% of total population (2011)
rate of urbanization:1.1% annual rate of change (2010-15 est.)


Sex ratio:
at birth: 1.07 male(s)/female
0-14 years:1.05 male(s)/female
15-24 years:0.97 male(s)/female
25-54 years:0.96 male(s)/female
55-64 years:1 male(s)/female
65 years and over:0.82 male(s)/female
total population:0.96 male(s)/female (2013 est.)


Mother's mean age at first birth:
29.4 (2008 est.)


    Maternal mortality rate:
3 deaths/100,000 live births (2010)


Infant mortality rate:
total: 2.59 deaths/1,000 live birthscountry comparison to the world: 221
male:2.73 deaths/1,000 live births
female:2.44 deaths/1,000 live births (2013 est.)


Life expectancy at birth:
total population: 84.07 yearscountry comparison to the world: 4
male:81.67 years
female:86.64 years (2013 est.)


Total fertility rate:
0.79 children born/woman (2013 est.)country comparison to the world: 224


Contraceptive prevalence rate:
62%


Health expenditures:
4.6% of GDP (2011)


Physicians density:
1.92 physicians/1,000 population (2010)


Hospital bed density:
2.7 beds/1,000 population (2011)


Drinking water source:
improved:
urban: 100% of population
total: 100% of population
unimproved:
urban: 0% of population
total: 0% of population (2011 est.)


Sanitation facility access:
improved:
urban: 100% of population
total: 100% of population
unimproved:
urban: 0% of population
total: 0% of population (2011 est.)


HIV/AIDS - adult prevalence rate:
0.1% (2009 est.)country comparison to the world: 129


HIV/AIDS - people living with HIV/AIDS:
3,400 (2009 est.)country comparison to the world: 127


HIV/AIDS - deaths:
fewer than 100 (2009 est.)country comparison to the world: 145


Obesity - adult prevalence rate:
7.1% (2008)


Children under the age of 5 years underweight:
3.3% (2000)country comparison to the world: 108


Education expenditures:
3.3% of GDP (2012)country comparison to the world: 132

Literacy:
definition: age 15 and over can read and write
total population:95.9%
male:98%
female:93.8% (2010 est.)


Unemployment, youth ages 15-24:
total: 6.7% (2011)country comparison to the world: 128


Government


Country name:
conventional long form: Republic of Singapore
conventional short form:Singapore
local long form:Republic of Singapore
local short form:Singapore


Government type:
parliamentary republic


Capital:
name: Singapore
geographic coordinates:1 17 N, 103 51 E
time difference:UTC+8 (13 hours ahead of Washington, DC during Standard Time)


Administrative divisions:
none


Independence:
9 August 1965 (from Malaysian Federation)


National holiday:
National Day, 9 August (1965)


Constitution:
several previous; latest adopted 22 December 1965; amended several times, last in 2010 (2013)


Legal system:
English common law


International law organization participation:
has not submitted an ICJ jurisdiction declaration; non-party state to the ICCt


Suffrage:
21 years of age; universal and compulsory


Executive branch:
chief of state: President Tony TAN Keng Yam (since 1 September 2011)
head of government:Prime Minister LEE Hsien Loong (since 12 August 2004); Deputy Prime Minister TEO Chee Hean (since 1 April 2009) and Deputy Prime Minister Tharman SHANMUGARATNAM (since 21 May 2011)
cabinet:appointed by president, responsible to parliament
elections:president elected by popular vote for six-year term; election last held on 27 August 2011 (next to be held by August 2017); following legislative elections, leader of majority party or leader of majority coalition usually appointed prime minister by president; deputy prime ministers appointed by president
election results:Tony TAN Keng Yam elected president from a field of four candidates with 35.2% of the votes cast


Legislative branch:
unicameral Parliament (87 seats; members elected by popular vote to serve five-year terms); note - in addition, there are up to nine nominated members (NMP) and up to nine Non-Constituency Members of Parliament (NCMP); traditionally, members of parties that came closest to winning seats may be appointed as NCMPs; NMPs are appointed by the president to ensure that a wide range of community views are present in Parliament; NMPs are independent and non-partisan members
elections:last held on 7 May 2011 (next to be held in May 2016)
election results:percent of vote by party - PAP 60.1%, WP 12.8%, NSP 12.1%, others 15%; seats by party - PAP 81, WP 6; (seats as of February 2013 PAP 80, WP 7)


Judicial branch:
highest court(s): Supreme Court (consists of the president or chief justice and 16 justices and organized into an upper tier Appeal Court and a lower tier High Court)
judge selection and term of office:all judges appointed by the president from candidates recommended by the prime minister after consultation with the chief justice; justices appointed for life
subordinate courts:district, magistrates', juvenile, family, community, and coroners' courts; small claims tribunals


    Political parties and leaders:
National Solidarity Party or NSP [Hazel POA]
People's Action Party or PAP [LEE Hsien Loong]
Reform Party [Kenneth JEYARETNAM]
Singapore Democratic Alliance or SDA [Desmond LIM]
Singapore Democratic Party [CHEE Soon Juan]
Singapore People's Party or SPP [CHIAM See Tong]
Workers' Party or WP [LOW Thia Khiang]
note:SDA includes Singapore Justice Party or SJP and Singapore National Malay Organization or PKMS


Political pressure groups and leaders:
none

International organization participation:
ADB, AOSIS, APEC, ARF, ASEAN, BIS, C, CP, EAS, FATF, G-77, IAEA, IBRD, ICAO, ICC (national committees), ICRM, IDA, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IPU, ISO, ITSO, ITU, ITUC (NGOs), MIGA, NAM, OPCW, PCA, UN, UNCTAD, UNESCO, UNMIT, UPU, WCO, WHO, WIPO, WMO, WTO


Diplomatic representation in the US:
chief of mission: Ambassador Ashok Kumar MIRPURI (since 24 July 2012)
chancery:3501 International Place NW, Washington, DC 20008
telephone:[1] (202) 537-3100
FAX:[1] (202) 537-0876
consulate(s) general:New York, San Francisco


Diplomatic representation from the US:
chief of mission: Ambassador Kirk WAGER (since 4 September 2013)
embassy:27 Napier Road, Singapore 258508
mailing address:FPO AP 96507-0001
telephone:[65] 6476-9100
FAX:[65] 6476-9340


Flag description:
two equal horizontal bands of red (top) and white; near the hoist side of the red band, there is a vertical, white crescent (closed portion is toward the hoist side) partially enclosing five white five-pointed stars arranged in a circle; red denotes brotherhood and equality; white signifies purity and virtue; the waxing crescent moon symbolizes a young nation on the ascendancy; the five stars represent the nation's ideals of democracy, peace, progress, justice, and equality


National symbol(s):
lion, merlion (mythical half lion-half fish creature)


National anthem:
name: 'Majulah Singapura' (Onward Singapore)

lyrics/music:ZUBIR Said
note:adopted 1965; the anthem, which was first performed in 1958 at the Victoria Theatre, is sung only in Malay


Economy


Economy - overview:
Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. The economy depends heavily on exports, particularly in consumer electronics, information technology products, pharmaceuticals, and on a growing financial services sector. Real GDP growth averaged 8.6% between 2004 and 2007. The economy contracted 0.8% in 2009 as a result of the global financial crisis, but rebounded 14.8% in 2010, on the strength of renewed exports, before slowing to 5.2% in 2011 and 1.3% in 2012, largely a result of soft demand for exports during the second European recession. Over the longer term, the government hopes to establish a new growth path that focuses on raising productivity, which has sunk to an average of about 1.0% in the last decade. Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue efforts to establish Singapore as Southeast Asia's financial and high-tech hub.


GDP (purchasing power parity):
$323 billion (2012 est.)
country comparison to the world: 41
$318.8 billion (2011 est.)
$303.1 billion (2010 est.)
note:data are in 2012 US dollars


GDP (official exchange rate):
$272.8 billion (2012 est.)


GDP - real growth rate:
1.3% (2012 est.)
country comparison to the world: 155
5.2% (2011 est.)
14.8% (2010 est.)


GDP - per capita (PPP):
$60,800 (2012 est.)
country comparison to the world: 7
$61,500 (2011 est.)
$59,700 (2010 est.)
note:data are in 2012 US dollars


Gross national saving:
45.6% of GDP (2012 est.)


GDP - composition, by end use:
orchids, vegetables; poultry, eggs; fish, ornamental fish


Industries:
electronics, chemicals, financial services, oil drilling equipment, petroleum refining, rubber processing and rubber products, processed food and beverages, ship repair, offshore platform construction, life sciences, entrepot trade


Industrial production growth rate:
1.2% (2012 est.)


Labor force:
3.362 million
country comparison to the world: 100
note:excludes non-residents (2012 est.)


Labor force - by occupation:
agriculture: 0.1%
industry:19.6%
services:80.3%
note:excludes non-residents (2011)


Unemployment rate:
1.9% (2012 est.)


Population below poverty line:
NA%


Household income or consumption by percentage share:
lowest 10%: 4.4%
highest 10%:23.2% (2008)


Distribution of family income - Gini index:
47.8 (2012)


Budget:
revenues: $43.44 billion
expenditures:$37.83 billion
note:expenditures include both operational and development expenditures (2012 est.)


Taxes and other revenues:
15.9% of GDP (2012 est.)
country comparison to the world: 188

Budget surplus (+) or deficit (-):
2.1% of GDP (2012 est.)
country comparison to the world: 23


    Public debt:
111.4% of GDP (2012 est.)
country comparison to the world: 12
106% of GDP (2011 est.)
note:for Singapore, public debt consists largely of Singapore Government Securities (SGS) issued to assist the Central Provident Fund (CPF), which administers Singapore's defined contribution pension fund; special issues of SGS are held by the CPF, and are non-tradable; the government has not borrowed to finance deficit expenditures since the 1980s


Fiscal year:
1 April - 31 March


Inflation rate (consumer prices):
4.6% (2012 est.)
country comparison to the world: 138
5.2% (2011 est.)


Commercial bank prime lending rate:
5.38% (31 December 2012 est.)
country comparison to the world: 154
5.38% (31 December 2011 est.)


Stock of narrow money:
$115 billion (31 December 2012 est.)
country comparison to the world: 33
$100.4 billion (31 December 2011 est.)


Stock of broad money:
$400.8 billion (31 December 2012 est.)
country comparison to the world: 26
$340.9 billion (31 December 2011 est.)


Stock of domestic credit:
$281.1 billion (31 December 2012 est.)
country comparison to the world: 36
$235.2 billion (31 December 2011 est.)


Market value of publicly traded shares:
$709.4 billion (31 December 2012)


Current account balance:
$51.44 billion (2012 est.)
country comparison to the world: 12
$65.31 billion (2011 est.)


Exports:
$435.8 billion (2012 est.)
country comparison to the world: 14
$434.1 billion (2011 est.)


Exports - commodities:
machinery and equipment (including electronics and telecommunications), pharmaceuticals and other chemicals, refined petroleum products


Exports - partners:
Malaysia 12.3%, Hong Kong 10.9%, China 10.8%, Indonesia 10.6%, US 5.5%, Japan 4.6%, Australia 4.2%, South Korea 4% (2012)


Imports:
$374.9 billion (2012 est.)
country comparison to the world: 14
$361.5 billion (2011 est.)


Imports - commodities:
machinery and equipment, mineral fuels, chemicals, foodstuffs, consumer goods


Imports - partners:
Malaysia 10.6%, China 10.3%, US 10.2%, South Korea 6.8%, Japan 6.2%, Indonesia 5.3%, Saudi Arabia 4.5%, UAE 4.1% (2012)


Reserves of foreign exchange and gold:
$259.1 billion (31 December 2012 est.)
country comparison to the world: 12
$237.9 billion (31 December 2011 est.)


Debt - external:
$1.174 trillion (31 December 2012 est.)
country comparison to the world: 16
$1.088 trillion (31 December 2011 est.)


Stock of direct foreign investment - at home:
$741 billion (31 December 2012 est.)


Stock of direct foreign investment - abroad:
$416.9 billion (31 December 2012 est.)


Exchange rates:
Singapore dollars (SGD) per US dollar -
1.2497 (2012 est.)
1.258 (2011 est.)
1.3635 (2010 est.)
1.4545 (2009)
1.415 (2008)


Energy


Electricity - production:
44.41 billion kWh (2011 est.)
country comparison to the world: 54


Electricity - consumption:
40.62 billion kWh (2010 est.)
country comparison to the world: 53


Electricity - exports:
0 kWh (2012 est.)
country comparison to the world: 130


Electricity - imports:
0 kWh (2012 est.)
country comparison to the world: 133


Electricity - installed generating capacity:
10.25 million kW (2010 est.)
country comparison to the world: 54


Electricity - from fossil fuels:
99.8% of total installed capacity (2010 est.)
country comparison to the world: 46


Electricity - from nuclear fuels:
0% of total installed capacity (2010 est.)
country comparison to the world: 177


Electricity - from hydroelectric plants:
0% of total installed capacity (2010 est.)
country comparison to the world: 198


Electricity - from other renewable sources:
0.2% of total installed capacity (2010 est.)
country comparison to the world: 92


Crude oil - production:
20,170 bbl/day (2012 est.)
country comparison to the world: 77


Crude oil - exports:
0 bbl/day (2011 est.)
country comparison to the world: 183


Crude oil - imports:
1.137 million bbl/day (2010 est.)
country comparison to the world: 9


    Crude oil - proved reserves:
0 bbl (1 January 2013 es)
country comparison to the world: 185


Refined petroleum products - production:
1.357 million bbl/day (2011 est.)
country comparison to the world: 17


Refined petroleum products - consumption:
1.25 million bbl/day (2011 est.)
country comparison to the world: 19


Refined petroleum products - exports:
1.14 million bbl/day (2010 est.)
country comparison to the world: 7


Refined petroleum products - imports:
1.348 million bbl/day (2010 est.)
country comparison to the world: 5


Natural gas - production:
0 cu m (2011 est.)
country comparison to the world: 190


Natural gas - consumption:
8.778 billion cu m (2011 est.)
country comparison to the world: 52


Natural gas - exports:
0 cu m (2011 est.)
country comparison to the world: 181


Natural gas - imports:
8.78 billion cu m (2011 est.)
country comparison to the world: 33


Natural gas - proved reserves:
0 cu m (1 January 2013 es)
country comparison to the world: 192


Carbon dioxide emissions from consumption of energy:
212.4 million Mt (2011 est.)
country comparison to the world: 28



Communications


Telephones - main lines in use:
1.99 million (2012)
country comparison to the world: 58


Telephones - mobile cellular:
8.063 million (2012)
country comparison to the world: 92


Telephone system:
general assessment: excellent service
domestic:excellent domestic facilities; launched 3G wireless service in February 2005; combined fixed-line and mobile-cellular teledensity more than 180 telephones per 100 persons; multiple providers of high-speed Internet connectivity and the government is close to completing an island-wide roll out of a high-speed fiber-optic broadband network
international:country code - 65; numerous submarine cables provide links throughout Asia, Australia, the Middle East, Europe, and US; satellite earth stations - 4; supplemented by VSAT coverage (2011)



    Broadcast media:
state controls broadcast media; 8 domestic TV stations operated by MediaCorp which is wholly owned by a state investment company; broadcasts from Malaysian and Indonesian stations available; satellite dishes banned; multi-channel cable TV service available; a total of 18 domestic radio stations broadcasting with MediaCorp operating more than a dozen and another 4 stations are closely linked to the ruling party or controlled by the Singapore Armed Forces Reservists Association; many Malaysian and Indonesian radio stations are available


Internet country code:
.sg


Internet hosts:
1.96 million (2012)
country comparison to the world: 39


Internet users:
3.235 million (2009)
country comparison to the world: 65



Transportation


Airports
9 (2013)
country comparison to the world: 158


Airports - with paved runways
total: 9
over 3,047 m:2
2,438 to 3,047 m:2
1,524 to 2,437 m:3
914 to 1,523 m:1
under 914 m:1 (2013)

Pipelines
gas 122 km; refined products 8 km (2013)


Roadways
total: 3,425 km
country comparison to the world: 163
paved:3,425 km (includes 161 km of expressways) (2012)


Merchant marine
total: 1,599
country comparison to the world: 6
by type:bulk carrier 247, cargo 109, carrier 6, chemical tanker 256, container 339, liquefied gas 131, petroleum tanker 436, refrigerated cargo 13, roll on/roll off 5, vehicle carrier 57
foreign-owned:966 (Australia 12, Bangladesh 1, Belgium 1, Bermuda 25, Brazil 9, Chile 6, China 29, Cyprus 6, Denmark 149, France 3, Germany 32, Greece 22, Hong Kong 46, India 21, Indonesia 60, Italy 5, Japan 164, Malaysia 27, Netherlands 1, Norway 153, Russia 2, South Africa 13, South Korea 3, Sweden 11, Switzerland 3, Taiwan 77, Thailand 33, UAE 10, UK 6, US 36)
registered in other countries:344 (Australia 2, Bahamas 7, Bangladesh 7, Belize 4, Cambodia 3, Cyprus 1, France 3, Honduras 11, Hong Kong 13, Indonesia 46, Italy 1, Kiribati 9, Liberia 22, Malaysia 13, Maldives 4, Malta 4, Marshall Islands 30, Mongolia 3, North Korea 1, Panama 92, Philippines 1, Saint Kitts and Nevis 10, Saint Vincent and the Grenadines 5, Sierra Leone 9, Thailand 1, Tuvalu 19, US 16, Vanuatu 2, unknown 5) (2010)

    Ports and terminals
major seaport(s): Singapore
major container port(s) (TEUs):Singapore

Transportation - note
the International Maritime Bureau reports the territorial and offshore waters in the South China Sea as high risk for piracy and armed robbery against ships; numerous commercial vessels have been attacked and hijacked both at anchor and while underway; hijacked vessels are often disguised and cargo diverted to ports in East Asia; crews have been murdered or cast adrift



Military


Military branches
Singapore Armed Forces: Army, Navy, Air Force (includes Air Defense) (2013)

Military service age and obligation
18-21 years of age for male compulsory military service; 16 1/2 years of age for volunteers; 2-year conscript service obligation, with a reserve obligation to age 40 (enlisted) or age 50 (officers) (2012)


Manpower available for military service
males age 16-49: 1,255,902 (2010 est.)

Manpower fit for military service
males age 16-49: 1,018,839
females age 16-49:1,087,134 (2010 est.)


    Manpower reaching militarily significant age annually
male: 27,098
female:25,368 (2010 est.)


Military expenditures
3.52% of GDP (2012)
country comparison to the world: 44
3.47% of GDP (2011)
3.52% of GDP (2010)


Transnational Issues


Disputes - international
disputes persist with Malaysia over deliveries of fresh water to Singapore, Singapore's extensive land reclamation works, bridge construction, and maritime boundaries in the Johor and Singapore Straits; in 2008, ICJ awarded sovereignty of Pedra Branca (Pulau Batu Puteh/Horsburgh Island) to Singapore, and Middle Rocks to Malaysia, but did not rule on maritime regimes, boundaries, or disposition of South Ledge; Indonesia and Singapore continue to work on finalization of their 1973 maritime boundary agreement by defining unresolved areas north of Indonesia's Batam Island; piracy remains a problem in the Malacca Strait


    Illicit drugs
drug abuse limited because of aggressive law enforcement efforts; as a transportation and financial services hub, Singapore is vulnerable, despite strict laws and enforcement, as a venue for money laundering

Information provided by CIA - The World Fact Book



Doing Business in Singapore 2014


           
 

 
Singapore

  Ease of Doing Business (rank)
1
 
 
Starting a Business (rank)
3
 
 
Protecting Investors (rank)
2
 
  Procedures (number)
3
 
  Extent of disclosure index (0-10)
10
 
  Time (days)
2.5
 
  Extent of director liability index (0-10)
9
 
  Cost (% of income per capita)
0.6
 
  Ease of shareholder suits index (0-10)
9
 
  Minimum capital (% of income per capita)
0.0
 
  Strength of investor protection index (0-10)
9.3
 
 
Dealing with Construction Permits (rank)
3
 
 
Paying Taxes (rank)
5
 
  Procedures (number)
11
 
  Payments (number per year)
5
 
  Time (days)
26
 
  Time (hours per year)
82
 
  Cost (% of income per capita)
15.7
 
  Profit tax (%)
4.9
 
   
 
 
  Labor tax and contributions (%)
17.6
 
  Getting Electricity (rank)
6
 
  Other taxes (%)
4.7
 
  Procedures (number)
4
 
  Total tax rate (% of profit)
27.1
 
  Time (days)
36
 
   
 
 
  Cost (% of income per capita)
27.5
 
  Trading Across Borders (rank)
1
 
   
 
 
  Documents to export (number)
3
 
  Registering Property (rank)
28
 
  Time to export (days)
6
 
  Procedures (number)
5
 
  Cost to export (US$ per container)
460
 
  Time (days)
5.5
 
  Documents to import (number)
3
 
  Cost (% of property value)
2.9
 
  Time to import (days)
4
 
 
 
 
  Cost to import (US$ per container)
440
 
  Getting Credit (rank)
3
 
   
 
 
  Strength of legal rights index (0-10)
10
 
  Enforcing Contracts (rank)
12
 
  Depth of credit information index (0-6)
5
 
  Time (days)
150
 
  Public registry coverage (% of adults)
0.0
 
  Cost (% of claim)
25.8
 
  Private bureau coverage (% of adults)
60.3
 
  Procedures (number)
21
 
 

 
   
 
 
 

 
  Resolving Insolvency (rank)
4
 
 
 
 
  Time (years)
0.8
 
   
 
 
  Cost (% of estate)
3
 
   
 
 
  Outcome(0 as piecemeal sale and 1 as going concern)
1.0
 
   
 
 
  Recovery rate (cents on the dollar)
89.4


Information provided by The World Bank Group