The more people in the country, the higher demand for goods and services. This is why countries with huge population would always fare better than small countries once they got the economy moving into the right direction. Malaysian population should be close to 33 million currently. Want to know where we are versus the world? We are a very small nation yeah. Merely 0.42% of the world’s population and I think a few more years meant that this number will get even smaller. This is why we need to have a strong ASEAN yeah. If it’s ASEAN, then we are 650 million strong yeah. That’s 8.5% versus the world. Plus ASEAN is within ASIA which is 4.64 billion. This is 61% versus the world.
Okay, now let’s look at what’s happening to the ‘production’ of more Malaysians.
Article in malaymail.com Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin revealed that Penang recorded the lowest fertility rate with 1.3 babies per woman aged between 15 and 49 in 2018. It’s not just Penang which the replacement level of 2.1 children yeah. Sabah’s fertility rate is at 1.4 children, Kuala Lumpur at 1.6 children and Sarawak at 1.6 children. On an overall basis, the fertility rate in Malaysia has dropped to just 1.8 children per woman aged 15 to 49 in 2018.
He said, “On average, the number of births in Penang is 60,000 births a year. This rate is seriously (low) because we are below the normal rate of 2.1 children.” Mohd Uzir said that if this fertility rate continues to drop, then the current productive citizens will have to support their senior citizens for a longer period because that next succeeding generation who could share the responsibility is declining. Do refer to the Article in malaymail.com
Briefly, any number below 2.1% meant that we could not replace the population fast enough. It also meant that we will start moving towards ageing nation (7% population above 64 years old) and later aged nation (15% of populations above 64 years old and one day we will become super aged nation with over 20% of the population aged 64 and above. Based on some estimations, we would reach ageing nation by 2030.
Based on these numbers, it is very critical that we build up our funds to take care of ourselves and our parents. Relying on our children will become slightly harder in the future especially with most couples having just 1 baby nowadays before both decided that 1 baby is enough. So, are you well prepared, yet? Or the other way is of course to WORK HARDER and build up the population yeah. Some estimations did say that COVID-19 will help population growth especially with those periods where everyone had to stay at home… Happy reading.
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