People
Australian population trends
Population growth is driven by two factors: natural increase (births minus deaths), net internal migration (internal arrivals minus internal departures) and net overseas migration (overseas arrivals minus overseas departures). At the national level, net internal migration is 0.
In 2006, migration overtook natural increase as the dominant component of Australia’s population growth. Since then, net overseas migration has consistently contributed more strongly to Australia’s population growth than natural increase, except for 2020 and 2021.
In 2023, Australia’s population grew by about 2.5 percent, recording the largest annual growth rate since 2008. Since the re-opening of Australia’s borders in November 2021, Australia’s population has increased from 25,766,605 (as of December 2021) to 26,966,789 (as of December 2023).
The Treasury Intergenerational Report - a five yearly deep dive on the demographic profile of Australia - forecast that one of the biggest effects of the pandemic would be a lower population growth, and smaller population that would occur as a result.
The statistics in Part One: People are sourced from the Australian Bureau of Statistics’ Data Explorer API, and count actual people coming and going from Australia.