Population ages 65 and above for Singapore
SPPOP65UPTOZSSGP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
13.66
Year-over-Year Change
75.52%
Date Range
1/1/1960 - 1/1/2024
Summary
The 'Population ages 65 and above for Singapore' trend measures the percentage of Singapore's population aged 65 and older. This data point is crucial for economists and policymakers to understand demographic shifts and their implications for economic growth, social services, and retirement systems.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This series represents the proportion of Singapore's total population that is aged 65 and above. It is a key indicator of population aging and can inform decisions around public health, social welfare, and labor market policies.
Methodology
The data is calculated by the World Bank using census and survey information provided by the Singapore Department of Statistics.
Historical Context
Policymakers and analysts use this trend to anticipate the economic and social impacts of an aging population in Singapore.
Key Facts
- Singapore's population aged 65 and above was 13.7% in 2020.
- The proportion of elderly in Singapore is projected to rise to 25% by 2030.
- Singapore has one of the fastest aging populations in the world.
FAQs
Q: What does this economic trend measure?
A: This trend measures the percentage of Singapore's total population that is aged 65 and above. It provides insights into the country's demographic composition and aging trends.
Q: Why is this trend relevant for users or analysts?
A: Understanding the aging of Singapore's population is crucial for policymakers to plan for the economic and social implications, such as healthcare, retirement systems, and labor market changes.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using census and survey information provided by the Singapore Department of Statistics.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this trend to anticipate the impacts of population aging on Singapore's economy, including labor supply, healthcare costs, and retirement system sustainability.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, with some delay in reporting the most recent year's figures.
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Citation
U.S. Federal Reserve, Population ages 65 and above for Singapore (SPPOP65UPTOZSSGP), retrieved from FRED.