Global Population Overview
A country's or region's population is defined as the total number of people living there.
The world's population is currently increasing at a low single-digit annual rate. The population is expected to rise at a rate of 81 million people every year. Between 1959 and the 2000s, the world's population more than doubled. In the late 1960s, the annual population growth rate peaked. Since then, the rate of increase has practically halved, and it is predicted to continue to fall in the future years around the world.
Aging Population an Area of Concern
Canada is facing the challenge of an increasingly elderly population. The proportion of people in the 65+ age group increased between 2015-2020. The share of the old-age population is forecasted to increase by 2025. Statistics Canada forecasts that the aging population will increase by 2030. Rising pensions and old age payments and the high government debt levels are expected to put pressure on federal finances.
Canada Population Growth Analysis
The population of Canada increased at an average annual rate of 1.0% during 2000-2010, from 30.7 million in 2000 to 34.0 million in 2010. Between 2011–2020 the population increased by an average of 1.1% to 38.0 million. According to Statistics Canada, the country’s population growth has been the highest among the G7 countries in recent years due to migration. According to GlobalData, the country’s population is projected to increase at an average annual rate of 1.0% from 2021–2025 to 40.0 million by 2025.
Population Age – Split
In 2020, 15.9% of the population was below 15 years of age, 65.1% was in the working-age bracket (15–64), and 19% was aged above 65 years. The share of the working-age population is expected to decline from 67.1% in 2015 to 63% in 2025, and the 65 and above population is expected to increase from 16.7% to 21.6%. This is a cause for concern for the country as both the working-age population and the 0–14 age group population are expected to decline by 2025. About 49.7% of the population was male and 50.3% was female in 2020.
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