Migration numbers are still above 70,000
A dip in Indian and Chinese student arrivals has seen net migration ease slightly, but the net annual gain remains close to record levels.
In the year to January 31, the number of long term arrivals to New Zealand exceeded the number who left by 70,100, Statistics New Zealand said.
This is down from the record high of 72,400 reached in July 2017, but is still well above historic trends.
For January alone the gain was just over 6200, well above both December and the level economists were expecting.
In Opposition, Labour pledged to drastically cut New Zealand’s migration gains by 20,000-30,000, although its stance appears to be softening now that it is in Government.
Westpac said January had been unexpectedly strong, and the easing off of annual gains may be arresting.
‘‘[W]hile off its highs, net migration is still showing a great deal of resilience. Consequently, even though we expect a continued easing off over the next few years, this may be quite gradual,’’ Westpac senior economist Satish Ranchhod said.
ASB said the expected tailing off in net migration may be delayed, and less significant, than expected.
Statistics New Zealand said there had been a dip in migrant arrivals on student visas from India and China, New Zealand’s two largest education markets, down around 8 per cent to 11,100 people.
Just under 25,000 people have left New Zealand to live in Australia in the last 12 months, but this was virtually matched by those returning or Australians coming to live here.