July 29 (UPI) -- Uruguay is experiencing one of the most significant demographic transformations in Latin America, driven by a declining birthrate and an aging population.
According to projections from the National Institute of Statistics, the country's total fertility rate dropped to 1.27 children per woman in 2023 and is expected to fall to 1.20 by the end of this year -- well below the replacement-level threshold of 2.1.
The population, which peaked at 3.51 million people in 2020, is projected to decline steadily, falling to some 3 million by 2070. By then, more than 32% of residents will be over 65, while only 11.5% will be under 15.
Though Uruguay leads the trend, population aging is accelerating across Latin America.
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