Children with their parents wave to the armored vehicles in the Republic of Singapore Armed Forces mobile column as it parades through the financial business district to mark the 55th National Day celebrations in Singapore on Aug 9, 2020. (PHOTO / AFP)

SINGAPORE - Preliminary estimates indicated that the total fertility rate in Singapore dropped to 0.97 in 2023, the first time it has dropped below one, said Indranee Rajah, minister in the Prime Minister's Office (PMO), told the Parliament on Wednesday.

The city-state recorded 26,500 resident marriages and 30,500 resident births during the year, said Indranee, who oversees the National Population and Talent Division in the PMO.

The young people may not even see marriage or parenthood as important life goals.

Indranee Rajah, Minister in the Prime Minister's Office

Indranee noted that fewer Singaporeans married and gave birth to babies annually on average over the last five years compared to the preceding five-year period.

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She gave multiple reasons for the falling fertility rate, such as the COVID-19 delaying some couples' marriage and parenthood plans, the financial cost pressure to raise children, work-life balance worries, and generational change in priorities.

"The young people may not even see marriage or parenthood as important life goals," the minister added.