The Population of United Kingdom attained a value of 67,584,923 people in 2023
The indicator recorded a historical growth (CAGR) of 93% between 2020 to 2023, and is expected to grow by...
GlobalData projects the figure to grow at a CAGR of ...
Population growth analysis
Over the last two decades, the overall population in the UK increased from 1999 to 2021. The growth rate has improved over the last decade (2010- 2021) compared to the growth rate during 2000–2009. The population in the UK is expected to grow till 2025.
Population age – Split
The UK’s population is aging, with the share of old-age population (65 years and above) increasing from 2005 to 2021, which is further expected to rise by 2025. A fair percentage of the UK's population was below 15 years of age and the majority was between 15–64 years of age in 2021. The UK is a relatively old country. Aging population could further increase the current levels of social expenditure, which could put government’s fiscal health at risk. The share of the male population in the UK is forecast to increase by 2025.
Aging population of the UK
The UK is likely to face the problem of an aging population, as the baby boomer generation grows older. The old-age dependency ratio (over 65 population as a share of the working-age (15 to 64) population) stood at a significant percentage in 2021 and is forecast to rise by 2025.
In 2021, the birth rate in the UK was fair and its fertility rate was average. The country’s female population is expected to witness a slight decline, from 2005 to 2025.
Robust economic progress over the past few decades has resulted in high urbanization rate. The total population in urban areas is expected to increase by 2025 from 2005.
Increasing old-age dependency ratio in the UK
According to the Office for National Statistics, life expectancy is expected to rise to 86.2 years for females and 83.4 years for males by 2042. The problem of the aging population will affect the UK in the coming decade, as people continue to retire in increasing numbers, increasing the burden on the working population. Social protection expenditure accounted for an adequate percentage of GDP in 2019, which is above the OECD average. With the share of the country's older population rising every year, the cost of social welfare will also increase, which could have serious implications for the country’s finance and its fiscal health.
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