Singapore has a fully developed industrial international economy. The country depends heavily on imports, as there are few natural resources on the island. There has been a consistent surplus in the overall balance of payments. There is a large degree of state control of the economy.
Land Tenure and Property. There is a large degree of private ownership of houses and apartments. Land tenure is firmly regulated by the government and there are government plans for the use of every inch of the island's territory. Foreigners usually are allowed only to lease land, but they may buy apartments.