Report
Are any countries offsetting the rapid ageing of their population with rapid productivity gains?
We are looking at countries with rapidly ageing population: Spain, Italy, South Korea, China, Japan, Thailand. These are countries where the fertility rate in 2023 is less than or equal to 1.3. We seek to determine whether some of these countries are able to offset their population ageing and the decline in their working-age population by high productivity gains. We see that in none of these countries, where population ageing is very rapid, has the decline in the working-age population been offset by an acceleration in productivity gains. Potential growth has therefore become very low in all these countries; the country where it is highest is China (where it is around 3% per year).
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Natixis
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