South Korea has again recorded the world’s lowest fertility rate of 0.81 with the number sinking to a new low.
Key points
- The fertility rate in the country first dropped lower than one child per woman in 2018. But on August 24, figures released by the government showed the figure had dropped to 0.81 – down from 0.84 the previous year.
- In comparison, the average rate across the world’s most advanced economies is 1.6 children.
- To put that into perspective, the 2021 fertility rate was 1.6 in the United States and 1.3 in Japan, which also saw its lowest rate on record last year.
- In some African countries, where fertility rates are the highest in the world, the figure is 5 or 6.
- To maintain a stable population (considered as the replacement rate), countries need a fertility rate of 2.1 — anything above that indicates population growth.
- A declining population can put a country under immense pressure. Apart from increased pressure on public spending as demand for healthcare systems and pensions rise, a declining youth population also leads to labour shortages that impact the economy.
