SingPost to Increase Postage, Delivery Rates in 2023 Due to Rising Costs

Singapore Post (SingPost) is set to increase their postage, package delivery, and doorstep parcel delivery rates on Jan. 1, 2023, due to the increasing costs of manpower, fuel, and electricity. This is also in tandem with the Goods and Services Tax (GST) increase that will take place next year.

In February, the Ministry of Finance announced that the GST will increase by 1% in the next two years: from 7% to 8% starting 2023, and 8% to 9% starting 2024. With this, SingPost has decided to adjust the prices of their products and services to fulfill their deliveries in a sustainable manner.

“Singapore offers one of the lowest postage rates in the world for a developed nation,” SingPost Singapore CEO Neo Su Yin said in a media release.

“The adjustment in rates will help us maintain our service offerings and high service standards, and enable us to operate sustainably with the GST hike. We remain committed to keeping our postal service relevant in the eCommerce age, bringing value to, and better serving the needs of our customers.”

The Basic Mail Standard Regular will increase by a cent in 2023 — from 30 to 31 cents for 20g, and from 37 to 38 cents for 40g — while the associated stamps will be priced at 31 cents (1st Local) and 38 cents (2nd Local). In 2024, the two weight steps will increase to 32 and 39 cents respectively. This is the first revision of rates since 2014.

To check all the rate adjustments, the public can download the Rate Adjustments for SingPost Domestic Services file on SingPost’s website.