Projected doubling of S’pore GDP by 2040 could see S$ on a par with US dollar, STI hit 10,000: DBS
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DBS expects Singapore’s real GDP to grow 2.3 per cent a year through 2040.
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DBS
Published Oct 22, 2025, 03:11 PM
Updated Oct 22, 2025, 06:33 PM
SINGAPORE – Singapore’s economy could more than double by 2040, with the Singapore dollar potentially trading 1-for-1 against the US dollar and the Straits Times Index (STI) climbing to 10,000 points over the 15-year period, the Republic’s largest bank said in an Oct 22 report.
The DBS Singapore 2040 report, which outlines the bank’s projections for the economy, forecast that Singapore’s gross domestic product could reach between US$1.2 trillion (S$1.56 trillion) and US$1.4 trillion by 2040 from US$547 billion in 2024, driven by capital accumulation, human capital development and productivity gains.
It said the Republic’s growth has been underpinned by institutional strength and rising educational quality, which have helped sustain the country’s competitiveness over the past few decades.