Global Population: Overview
Population is defined as the total number of people residing in a country or region. Population growth of a country depends on multiple factors including the economy, female fertility rates, birth rates, death rates, healthcare facilities, increasing urbanization, immigration & emigration rates, education, and other social & cultural aspects.
The global population is currently growing at a low single-digit growth rate per year. The annual population growth rate is anticipated to be 81.0 million people per year. The world population has more than doubled from 1959 to the 2000s. The annual population growth rate reached its peak in the late 1960s. Since then the rate of increase has nearly halved and is expected to continue to decline worldwide in the coming years.
Population Growth Analysis of Australia
Between 2015-2021, the population of Australia was highest in 2021, reaching 25.7 million people. The country witnessed significant growth in total population in 2020 when compared to the previous years among both the male and female population. The population of Australia has exponentially increased since the 1950s.
The country ranked 54th out of 233 nations in terms of population, according to GlobalData estimates in 2021. With an increasingly aging population, the fiscal burden is set to rise. GlobalData expects the population to increase to 26.4 million in 2022. On average, over 2022–26, the population is expected to grow at a slower pace of 1.2%, according to GlobalData, due to low fertility rates.
Population Segmentation of Australia
Gender: The male and female population of Australia witnessed a single-digit YoY growth in 2020. Among the male and female population in Australia, the country has a large number of female population over the male population. Prior to 1979, the country had a larger number of male population over the female population.
Urban and Rural Population: Australia has a larger proportion of people living in urban areas. The number of people living in the urban areas has always been higher than the number of people living in the rural areas of Australia since the 1960s. The urban population in Australia reported a low single-digit YoY growth in 2020. The rural population growth remained fairly constant from 2019 to 2020.
Age: The age structure in Australia, in 2021, was such that 65.2% of the population was in the 15–64 years age group, 18.7% of the population was in the 0–14 years age group, and 16.2% of the population was aged 65 and above. The share of the population aged 65 and above is expected to reach 17.3% of the total population by 2025, according to GlobalData. The old-age dependency ratio stood at 24.8% in 2021, according to GlobalData. With this age structure, Australia shows similar demographic trends to the rest of the developed nations. The population is aging, and fewer people are entering the workforce. The proportion of the working-age population as a percentage of the total population is expected to decline from 65.4% in 2020 to 64.6% by 2025.
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