Migration slows, but still historically high

New Zealand annual net migration continued to moderate in February, though it’s still at historic highs, as more New Zealanders and non-New Zealanders left.

Annual net migration was at 68,900 in the year to February, from 71,300 in the year to February 2017, Statistics New Zealand said.

In January, monthly net migration on a seasonally adjusted basis rose to 6210, which was a seven-month high, causing market watchers to question whether the trend of declining net migration had reversed or whether the month was an anomaly. On the same measure, February net migration was at 4970, lower than any month in 2017.

Some 29,100 non-New Zealanders left in the February 2018 year, up 22 per cent from the February 2017 year, Stats NZ said. A net 69,800 nonKiwis arrived in the latest year, while citizens leaving brought the total down to 68,900.

“All migrant departures to Asia increased by 31 per cent in the February 2018 year to 11,700,” Stats NZ said.

“Nearly two-thirds of migrant departures to Asia were to China, India, Japan, and the Republic of Korea. Overall there was a net gain of 30,500 migrants from Asia in the February 2018 year.”

New Zealand has been experiencing record levels of net migration in recent years, which made rising immigration a key election issue.

Net migration peaked at 72,400 in the July 2017 year.

Chinese migration continued to be the largest on a net basis, with 8600 of net arrivals coming from China, though that was down 16 per cent on a year earlier.

— BusinessDesk