Sample Report On South Korea And Singapore: Fact Report
Type of paper: Report
Topic: South Korea, Singapore, Equipment, Business, Trade, Commerce, United States, Asia
South Korea is officially called the Republic of Korea. It is a nation that is located in East Asia, and has one of the highest development index scores for all of East Asia (Cia.gov, 2015). South Korea is a country that is small geographically, but has quite a large population of people. The per capita GDP is approximately $33,200; this is the 2013 estimate, which puts South Korea as having the 42nd largest per capita GDP in the world (Cia.gov, 2015). This per capita GDP has grown over the last few years, making South Korea one of the fastest-growing economies in the world as well, even though it is relatively small (Cia.gov, 2015). South Korea has a budget of $296.1 billion in revenue and $287.2 billion in expenditures; it is part of the US-Korea Free Trade Agreement (Cia.gov, 2015). South Korea has excellent trade and political relationships with the United States, because the United States is still stationed in South Korea’s demilitarized zone, protecting the South Korean people from attacks by North Korea.
South Korea is a republic, which means it is a representational democracy. The people of South Korea vote on the leaders of the country, and those leaders then make laws regarding the country. The main imports for the country are machinery, electronics and electronic equipment, oil, steel, optical instruments, transport equipment, organic chemicals, and plastics. The main exports are semiconductors, wireless telecommunications equipment, motor vehicles, auto parts, computers, display, home appliances, wire telecommunication equipment, steel, ships, and petrochemicals Currently, South Korea exports more than it imports. Sixteen percent of the country is below the poverty line. The unemployment rate in the country is approximately 3.2% as of 2013. Finally, the US exchange rate is approximately 1,107.3 to one US dollar. The US has the comparative advantage insofar as importing Korean goods is concerned.
The official name for Singapore is the Republic of Singapore (Cia.gov, 2015). Singapore is a parliamentary republic, meaning that it has a parliament that is voted in by the people of the country (Cia.gov, 2015). The per capita GDP of the country is approximately $62,400, and has risen since 2010. Singapore mainly imports machinery and equipment, mineral fuels, chemicals, foodstuffs, and consumer goods, and mainly exports machinery and equipment (including electronics and telecommunications), pharmaceuticals and other chemicals, refined petroleum products, and food and beverages. The US has the comparative advantage insofar as importing Singaporean goods is concerned.
Singapore does not have information provided regarding how much of the population is below the poverty line. It is allied with many western countries in trade unions, and is part of the East Asian trade alliances. The unemployment rate is approximately 1.3%. One United States dollar is worth approximately 1.25 Singaporean dollars. Singapore has excellent political and trade relationships with the United States, and has good relationships with most of the rest of Asia. There are very few countries that have problems with Singapore. Singapore has the comparative advantage insofar as importing goods is concerned, because the GDP per capita is so much higher in Singapore than it is in much of the rest of Asia. Singapore is an economic powerhouse in the region, although South Korea is quickly catching up.
Cia.gov,. 'Singapore'. N.p., 2015. Web. 11 Mar. 2015.
Cia.gov,. 'South Korea'. N.p., 2015. Web. 11 Mar. 2015.