South Korea’s fertility rate, already the world’s lowest, has dropped yet again in the latest setback to the country’s efforts to boost its declining population. Deaths exceeded births by over 120,000 people in a population of 52 million.

The country reported that the fertility rate, or the average number of children expected per woman, fell to 0.78 in 2022 – down from 0.81 the previous year.

Countries need a fertility rate of 2.1 to maintain a stable population, in the absence of immigration.

South Korea recorded more deaths than births for the first time in 2020, a trend that has continued since.

In 2022, the country recorded about 249,000 births and 372,800 deaths.

Similar demographic declines are being seen in several other Asian countries including Japan and China, raising concerns there will be too few people of working age to support the ballooning elderly population. European countries also have below replacement level fertility rates.