Growth Driven by Return of Residents and Influx of Foreign Workers
Singapore’s total population surged 5% year-on-year, reaching a record 5.92 million as of June 2023, according to the Population in Brief (PIB) report. The rise follows the easing of Covid-19 travel restrictions, enabling more citizens, permanent residents (PRs), and foreign workers to return.
Population Breakdown:
Citizen population: 3.61 million (+1.6%)
Permanent residents (PRs): 540,000 (+3.7%)
Non-residents: 1.77 million (+13.1%)
The non-resident workforce saw the most significant increase, particularly work permit holders in construction, marine, and process sectors, as businesses caught up on delayed projects.
Aging Population and Declining Birth Rates
Singapore’s median age increased to 43 years, up from 42.8 last year. The proportion of residents aged 65 and above also grew to 19.1%, compared to 11.7% a decade ago.
While marriages rose to a record 24,767 in 2022, citizen births declined by 4%, with only 30,429 births recorded. The average number of citizen marriages in the last five years remained lower than in the previous five-year period, signaling long-term demographic challenges.
Singapore’s Future Challenges
As the country continues to age and birth rates decline, experts emphasize the need for immigration to sustain economic growth. Foreign workers, particularly in critical industries, will remain a key factor in Singapore’s economic stability, while policies must adapt to demographic shifts.
