Singapore is one of two high-income economies in Southeast Asia, alongside Brunei. Its 2023 GDP of $501 billion accounts for 13% of the regional GDP of Southeast Asia. With a population of 5.9 million, Singapore’s per capita GDP of $84,734 is the highest in Southeast Asia.
Despite Singapore’s high-income status, its outgoing official development finance (ODF) program is modest. From 2015 to 2023, Singapore spent only $6.3 million in development finance in Southeast Asia.
Singapore’s development finance program is narrow, entirely focused on health and humanitarian aid. It contributes regularly to ASEAN’s Coordinating Centre for Humanitarian Assistance on Disaster Management and has disbursed funds for disaster relief and recovery on several occasions, usually implemented by the Singapore Red Cross or Ministry of Health. Singapore has on occasion provided funds directly to Indonesia, Laos, and Myanmar, but more commonly supports regional efforts.
Singapore also receives a small amount of development finance, totalling $7.2 million from 2015 to 2023. Japan and the United States were Singapore’s major source of ODF, responsible for over 88% of those disbursements. Other donors include the United Kingdom and the European Union.
The total ODF Singapore received was almost equivalent to what the country disbursed over 2015–23. However, if vaccine donations are not included, Singapore received more than five times as much as it disbursed, at odds with its position as the wealthiest nation in the region. Levels of ODF that integrated climate action, disability inclusion, and gender equality from and to Singapore were negligible.
- Received
- Provided