(CNN) Japan suffered its biggest natural population decline ever this year, government statistics show.

The fast-graying nation also posted a record-low birthrate, as the estimated number of babies born in 2018 dipped to 921,000 -- the lowest since records began in 1899 -- according to a report published Friday by the Ministry of Health, Labor and Welfare.

The number of newborns is estimated to have shrunk by 25,000 from 2017, and the figure remains under the 1 million mark for the third year running.

Deaths in 2018 also hit a postwar record high of 1.369 million, with a natural population decline of 448,000 -- the highest ever.

but it is expected to have dropped to about Japan is a "super-aged" nation, meaning more than 20% of its population is older than 65. The country's total population stands at 124 million this year --but by 2065 it is expected to have dropped to about 88 million

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