Australia’s Population Growth Rate Posts Sharp Decline in 2024
(MENAFN) Australia experienced a sharp decline in net migration during 2024, causing its population growth to drop to the slowest pace seen in three years, according to new data from the Australian Bureau of Statistics (ABS).
On Thursday, the ABS revealed that the country’s total population increased by 1.7 percent, equivalent to 445,900 people, reaching 27.4 million by the end of 2024. This growth rate is significantly lower than the 2.4 percent expansion recorded in 2023 and represents the weakest annual rise since 2021, a year marked by closed international borders.
The statistics confirm that the slowdown in population growth was entirely driven by a steep reduction in net overseas migration. In 2024, around 594,900 individuals arrived in Australia from abroad, while 254,200 people left the country. This led to a net migration figure of 340,750 — a staggering 35.7 percent decrease compared to 2023, when net overseas migration contributed 530,620 people to Australia’s population.
The ABS also reported that international arrivals dropped by 19.5 percent last year, while the number of departures rose by 22 percent.
In response to rising housing pressures, Prime Minister Anthony Albanese’s Labor government set a goal in May 2024 to reduce net migration to 260,000 for the 2024-25 financial year, which concludes on June 30.
Beyond migration, natural population increase accounted for 105,200 additional residents in 2024. The ABS noted there were roughly 292,400 births against 187,300 deaths during the year.
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