Japan's population will shrink by a staggering 30% by 2060, according to a new estimate by the country's government.
The current population will shrink from the current level of 128 million to 86.74 million, as the graying nation's aging accelerates and the birthrate continues to stay low.
The Ministry of Health, Labor and Welfare's research organization released the data on Monday. The group, called the National Institute of Population and Social Security Research, provides a 50-year demographic forecast every five years.
The institute also projects that people age 65 and older will account for 39.9% of the total population in 2060. In 2010, the elderly accounted for 23% of the population.
The country's average life expectancy dipped in 2011 after the March earthquake and tsunami, which killed approximately 19,000 people.FULL STORY