ROME, July 24 -- Italy's overall population will decline by around 4 million by 2050, reaching 54 million compared to a current level of 58.87 million, the country's National Institute of Statistics (ISTAT) predicted on Wednesday.

Italy's population has declined every year since peaking at 61.31 million in 2014. The country's median population growth rate has not climbed since 2014, when it rose a 0.02 percent, according to the data site Worldometer.

The average age is also on the rise, according to ISTAT's estimates, which forecast that the average age will be 50.8 years by mid-century, compared to the current average age of 47.7 provided by Worldometer.

According to ISTAT data, the troubling is the ratio of workers to retirees. The current ratio is three workers between the age of 15 and 64 for every two retirees. By 2050, the two categories will be in balance, for a one-to-one ratio. As recently as 1999, the country had more than three workers per retiree.

Italy's demographics have been impacted by multiple factors such as Italian families having fewer children due in part to changing economic circumstances and the high number of Italians seeking work outside the country.

  - Xinhua