Migration to New Zealand hits new record high
Fewer departures and an increase in the number of arrivals meant that in the year to February migration to New Zealand hit a record high. According to Statistics New Zealand the net gain of migrants over the last year rose to 55,100. This is close to double the gain of 29,000 recorded a year earlier.
Arrivals of migrants hit a record 112,600, an increase of 16 per cent on the previous year. Departures dropped to 57,500, the lowest level since 2003, said the agency. Annual migration to New Zealand has broken records for the last seven months consecutively. This is good news for the nation’s economic outlook.
A well as a boost in economic activity there has been an increase in demand for motor vehicles and housing. An increase in the New Zealand workforce has helped to push down wage inflation.
The net migration figures reflect a drop in the number of people crossing the Tasman to find work in Australia. The Australian economy has been hit in the past year by a drop off in mining activity.
Statistics New Zealand said the net loss of people to Australia fell from last year’s 15,000 to just 2,600 in the current year to February.
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