According to current projections, Taiwan’s population will continue to grow over the next decade or so until reaching its peak population of 24.01 million people in 2029. After 2030, the population is expected to decline slowly, shrinking down to 16.31 million people by 2099.
The current population growth rate for Taiwan is small at 0.18%. This adds only about 42,899 people to the population. Taiwan’s fertility rate is very low at 1.15 births per woman, well below the 2.1 births per woman needed to replace the population. Some reasons that the fertility rate is so low include the cost of childcare, the hesitation to marry without the money to purchase property, and the woman’s focus on career that entails long working hours.
A population decline will hurt Taiwan’s productivity and take away spending on technology and education to pay for pensions and healthcare benefits for an aging population.