The island and city state is the smallest state in Southeast Asia in terms of area. Singapore itself has no hinterland, no raw materials of its own, no agricultural land and no fresh water of its own. Economically, Singapore is largely dependent on trade via the modern commercial port and the well-organized Changi Airport. Freighters and cargo planes are loaded and unloaded here around the clock. The most important economic sector for Singapore is above all the communications and electronics industry. The specialization of many local companies creates high-quality technologies that generate profits and international investment. Meanwhile, companies from all over the world have their headquarters in the island state. Singapore is considered one of the cities with the highest cost of living in the world, but also the highest standard of living.