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[[File:Argentina_2022_population_pyramid.svg|thumb|Population pyramid of [[Demographics of Argentina|Argentina]] in 2022 (Stage four).]]
This occurs where birth and death rates are both low, leading to
Countries that were at this stage ([[total fertility rate]] between 2.0 and 2.5) in 2015 include: Antigua and Barbuda, Argentina, Bahrain, Bangladesh, Bhutan, Cabo Verde, El Salvador, Faroe Islands, Grenada, Guam, India, Indonesia, Kosovo, Libya, Malaysia, Maldives, Mexico, Myanmar, Nepal, New Caledonia, Nicaragua, Palau, Peru, Seychelles, Sri Lanka, Suriname, Tunisia, Turkey, and Venezuela.<ref>{{cite web|url=https://data.worldbank.org/indicator/SP.DYN.TFRT.IN|title=Fertility rate, total (births per woman) - Data|website=data.worldbank.org}}</ref>
===Stage five===
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