Wealthy population climbs 3% in 2025

GDP rises 5% alongside export and financial easing backdrop.

Singapore’s high-net-worth individual population rose 3.0% in 2025 to 141,000, up from 136,900 a year earlier, as stronger economic growth, export expansion, and looser financial conditions supported wealth creation.

A Capgemini report revealed that the city-state’s real gross domestic product accelerated to 5.0% in 2025 from 4.3% in 2024, driven by manufacturing, wholesale trade, and finance and insurance, which supported business profits and income gains.

Market capitalisation also swelled 26.4% to $1.06t (US$823.8b), contributing to the growth.

Simultaneously, overall residential price growth edged down to 3.3% in the same year, compared to 3.9% in 2024, the lowest since 2020.

Non-oil domestic exports increased 13%, led by integrated circuits, personal computers, and specialised machinery, amidst growth in the global artificial intelligence supply chain.

The Monetary Authority of Singapore cut rates twice, in January and April 2025, as core inflation averaged 0.5%, below the 2% medium-term target, which eased financial conditions.

Unemployment remained stable at 1.98% in 2025, compared with 1.95% in 2024.

(US$1 = S$1.29)

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