New government data shows that Taiwan is facing a difficult population transition. Not only is the fertility rate continuing to drop to historic lows, but the population is rapidly aging.
Summertime is a moment for families to spend time together. But new official statistics show that Taiwan’s population is going through big changes.
Figures show this year’s total fertility rate is down to 0.89, a historic low. That’s well below the replacement level of 2.1 per woman of childbearing age, meaning Taiwan’s population could soon be shrinking. This is the third year in a row Taiwan’s fertility rate has been under one.
Many fear the costs of having a child.
One person says the cost of raising a child is too high and wages have stagnated, leaving most couples unable to have more than one.
Another says the burden of raising children usually falls on women. She says many don’t want to sacrifice their careers to stay home with the kids.
But less children isn’t the only problem. Taiwan’s population is rapidly aging, reducing its labor supply.
Officials estimate that Taiwan currently has 4 million residents over the age of 65. By 2070, that number is projected to grow to 7.6 million. Taiwan’s current population is 23 million.
Low wages and high living costs are clearly worsening Taiwan’s population transition. Many say it will require government action to solve the problem.