In 2023, the output from chemicals manufacturing amounted to around 94.77 billion Singapore dollars. The largest contributors to this figure were the petrochemicals and petroleum industries.

Switzerland had the highest level of the Human Development Index (HDI) worldwide in 2022 with a value of 0.967. With a score of 0.966, Norway followed closely behind Switzerland and had the second highest level of human development in that year. The rise of the Asian tigers In the decades after the Cold War, the four so-called Asian tigers, South Korea, Singapore, Taiwan, and Hong Kong (now a Special Administrative Region of China) experienced rapid economic growth and increasing human development. At number four and number nine of the HDI, respectively, Hong Kong and Singapore are the only Asian locations within the top 10 highest HDI scores. Both locations have experienced tremendous economic growth since the 1980’s and 1990’s. In 1980, the per capita GDP of Hong Kong was 5,703 U.S. dollars, increasing throughout the decades until reaching 50,029 in 2023, which is expected to continue to increase in the future. Meanwhile, in 1989, Singapore had a GDP of nearly 31 billion U.S. dollars, which has risen to nearly 501 billion U.S. dollars today and is also expected to keep increasing. Growth of the UAE The United Arab Emirates (UAE) is the only Middle Eastern country besides Israel within the highest ranking HDI scores globally. Within the Middle East and North Africa (MENA) region, the UAE has the third largest GDP behind Saudi Arabia and Israel, reaching nearly 507 billion U.S. dollars by 2022. Per capita, the UAE GDP was around 21,142 U.S. dollars in 1989, and has nearly doubled to 43,438 U.S. dollars by 2021. Moreover, this is expected to reach over 67,538 U.S. dollars by 2029. On top of being a major oil producer, the UAE has become a hub for finance and business and attracts millions of tourists annually.

This statistic shows the trade balance of goods of Saudi Arabia from 2013 to 2023. In 2023, Saudi Arabia's trade balance surplus amounted to approximately 113.08 billion years. Saudi Arabia's economic state Saudi Arabia’s positive trade balance dropped during the economic crisis, recovered thereafter, but has faltered somewhat in the past couple of years. This is likely due to a loss in export income associated with falling crude oil prices in the region. This has affected the economy and is expected to increase the country’s national debt. As a major oil producer and exporter, on the one hand Saudi Arabia needs to maintain international relations related to the export of its most precious resource, and on the other hand it needs to preserve stability in the region. For the most part, the country has been able to do so. Due to large oil reserves throughout the region, Saudi Arabia’s most important export partners include China, the United States, Japan, South Korea, India and Singapore. As one of the main oil producers worldwide and ranked among the countries with the largest GDP, Saudi Arabia remains one of the key players in the Muslim and Arab world. It is also home to the birthplace of the Muslim Prophet Mohammed, giving the country a special significance. However, as tension rise with Iran, an uneasy relationship based in religion, politics and history, preserving stability in the region and international relations may become a challenge.