Japan population drops at fastest pace on record

As per the latest report, Japan’s demographic woes worsened last year as the population excluding foreign nationals dropped at fastest pace on record.

The Ministry of Internal Affairs and Communications said it was the seventh straight year of decline, with the population sliding below 126,000,000 for the first time in 17 years.

More importantly, People aged 65 or older accounted for 26.59% of the population, while proportion of people aged 14 or younger was 12.82% and continued its downtrend.

This is bad news for Prime Minister Shinzo Abe’s who is frantically trying to slow the trend. Japan’s demographic woes, a structural issue, have been one of the major reasons for the slow growth in the economy.