This tiny city-state has moved up from 5th position to take 3rd with per capita income (PPP) of $87,856, which is five times the average per capita income for an ordinary individual in the world. The basis of Singapore's wealth is its financial services sector, a chemical export industry, and its liberal economic policies that encourage growth and innovation. Singapore has the second busiest port in the world, exporting $414 billion of goods in 2011 alone.
