The latest data shows that the number of newborns in Japan has declined for eight consecutive years and hit a new low in 2023. The number of deaths is higher than the number of births for the 17th consecutive year and is twice the number of newborns. The total population is shrinking naturally, and the labor force is declining yearly, affecting the national economy.
South Korea, the country with the lowest fertility rate in the world for many years, has seen its fertility rate drop to 0.72 in 2023, far lower than the basic fertility rate of 2.1 required to stabilize the population structure. The number of newborns dropped by 7.7% throughout the year. The fertility rate in the fourth quarter of last year fell to a new record low of 0.65. The number of newborns was 3,905 fewer than in the same period in 2022.
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