Australia and Singapore Economies: A Side-by-Side Table Comparison

Australia and Singapore present a striking contrast across various indicators. Australia’s population is about 4.6 times larger, and its landmass dwarfs Singapore’s by 11,042 times. While Australia’s GDP is roughly 3.6 times greater, Singapore outshines with a higher GDP per capita. In military spending, Australia invests significantly more, but Singapore prioritizes defense relative to its economy.

Basic Indicators

Indicator	Australia	Singapore	Comparison
Population source (2022 data), updated 2024	26.01 million (54th)	5.64 million (110th)	Australia’s population is approximately 4.6 times larger than Singapore’s.
Surface area (sq. km) source (2022 data), updated 2024	7.74 million sq. km (6th)	0.0007 million sq. km (171st)	Australia is 11,042 times larger than Singapore.
GDP source (2022 data), updated 2024	1,692.96B USD (12th)	466.79B USD (32nd)	Australia’s total GDP is approximately 3.62 times larger than Singapore’s.
GDP per capita source (2022 data), updated 2024	$65,100 (13th)	82,808 USD (9th)	Australia’s GDP per capita is roughly 21% lower than Singapore’s, with Australians producing about $17,708 less per person annually.

Economic Indexes

Index	Australia	Singapore	Comparison
HDI (Human Development Index) source (2022 data), updated 2024	0.946 (10th)	0.949 (9th)	Australia’s HDI is 0.946 (very high), while Singapore’s is 0.949 (very high). Singapore’s score is 0.003 higher, indicating slightly better human development overall.
Index of Economic Freedom source (2024 data)	76.2 (12th)	83.5 (1st)	Australia’s Index of Economic Freedom is 8.8% lower than Singapore’s, 7.3 points less.
GINI source (2022 data), updated 2024	34.3 (2018 est.)	45.9 (2017)	With a 34.8% higher Gini coefficient, Singapore has a higher degree of income inequality than Australia.

International trade _{source(2023 data), updated 2024}

Indicator	Australia	Singapore
Total imports	363.57B USD	686.66B
Imports % of GDP	19.71%	150.31%
Main import partners	China 28%, US 10%, South Korea 6%, Japan 6%, Singapore 5%	China 17%, Malaysia 13%, US 10%, Taiwan 9%, South Korea 5%
Main import items	refined petroleum, cars, garments, trucks, plastic products	integrated circuits, refined petroleum, crude petroleum, gold, machinery
Total exports	447.51B USD	873.99B
Exports % of GDP	25.43%	186.55%
Main export Partners	China 29%, Japan 19%, South Korea 10%, India 7%, Taiwan 6%	Hong Kong 14%, China 13%, Malaysia 9%, US 8%, Indonesia 6%
Main export items	coal, iron ore, natural gas, gold, wheat	integrated circuits, refined petroleum, machinery, gold, gas turbines

Australia’s imports are about half of Singapore’s, and Australia imports 30.6% less of its GDP compared to Singapore’s massive 150.31%. Australia’s exports are less than half of Singapore’s, but they focus on raw materials, while Singapore excels in tech and machinery.

Military Power _{source (2023 data), updated 2024}

Indicator	Australia	Singapore
Military expenditure	32.3B USD	13.2B USD
Military expenditure (% of GDP)	1.90%	2.77%
Active military	59k	51k
Active military per 1,000 capita	3.8	51.9

Australia’s military expenditure is approximately 144% larger and $19.14 billion higher than Singapore’s, but Singapore allocates a greater percentage of its GDP to defense compared to Australia.