Singapore is one of two high-income economies in Southeast Asia, alongside Brunei. Its 2024 GDP of $572.9 billion accounts for 14% of the regional GDP of Southeast Asia. With a population of 6 million, its GDP per capita of $94,897 is the highest in Southeast Asia.
Despite Singapore’s high-income status, its outgoing official development finance (ODF) program is modest. From 2015 to 2024, Singapore spent an average of $659,570 per year on development finance in Southeast Asia.
Singapore’s development finance has been limited to occasional contributions to health and humanitarian aid. It contributes annually to ASEAN’s Coordinating Centre for Humanitarian Assistance on Disaster Management and has disbursed funds for disaster relief and recovery. Singapore mostly supports regional efforts, though it has assisted Indonesia, Laos, Myanmar, and Malaysia directly, most commonly with Covid vaccines.
Singapore receives a small amount of development finance, totalling $12.7 million from 2015 to 2024. Its largest donors have been the United Kingdom and Japan.
Singapore has provided significantly less ODF to the region than it has received, 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