How do ethnic groups compare in income growth in Singapore?

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Ethnic Groups Showed Income Growth, With Indians Leading the Pace

Income growth was observed across Singapore's three largest ethnic groups when adjusted for inflation, indicating a broad-based improvement in household earnings. Indian households experienced the most significant annual increase in income, growing at a rate of 3.5 per cent. This was followed by Chinese households, which saw an annual income growth of 3.1 per cent, and Malay households, with an annual increase of 2.3 per cent.
Indian Households Saw Fastest Income Growth

Indian households recorded the highest annual inflation-adjusted income growth rate among the major ethnic groups. This upward trend contributed to their median monthly household market income reaching S$13,382 in 2025. The consistent rise in earnings underscores a positive economic trajectory for this demographic.
Chinese Households Also Experienced Solid Gains

Chinese households also demonstrated robust income growth, with an annual increase of 3.1 per cent after accounting for inflation. In 2025, their median monthly household market income stood at S$12,969. This sustained growth reflects a general improvement in economic standing across a significant portion of the population.
Malay Households Showed Moderate Income Increases

Malay households registered a more moderate, yet still positive, income growth rate of 2.3 per cent annually, adjusted for inflation. By 2025, the median monthly household market income for Malay households was S$8,581. While lower than the other two major ethnic groups, this figure still represents an increase over previous periods.

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How do ethnic groups compare in income growth in Singapore?

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