Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


NZ monthly inbound migration climbs to 3 ½ year high

NZ monthly inbound migration climbs to 3 ½ year high in May as Australian exodus dwindles

June 24 (BusinessDesk) - New Zealand’s monthly inbound migration climbed to a three-and-a-half year high last month as fewer locals quit the nation for Australia, with local prospects taking on a brighter sheen than the country’s trans-Tasman neighbour.

Seasonally adjusted, there were about 1,740 more new migrants arriving to New Zealand than leaving in May, up from 1,600 a month earlier, and the highest monthly inflow since January 2010, Statistics New Zealand said. That coincided with a net outflow of some 1,860 New Zealand citizens across the Tasman, the smallest net loss to Australia since mid-2010.

Australia has been a favourite destination for many kiwis seeking better wages and a higher standard of living with almost open access to the larger nation. In the past year the economic fortunes of the two nations has turned, with New Zealand’s recovery gathering pace as the Canterbury rebuild unfolds, and Australia’s mining boom seen peaking soon.

In unadjusted terms, there was an outflow of 324 migrants in May, for an annual gain of 6,242. Australia provided the biggest pool of new migrants at 1,325, followed by 842 from the UK, 628 from India, and 404 from China. Australia accounted for about 19 percent of the 87,778 new permanent residents in the year ended May 31, followed by the UK at about 16 percent. China was third with about 8.9 percent then India at about 7.2 percent.

Today’s figures showed a slight fall in seasonally adjusted visitor arrivals to 230,400 in May from 231,900 in April. In unadjusted terms, visitor arrivals climbed 8.7 percent to about 153,000 from May 2012, and were up 0.5 percent to 2.63 million on an annual basis.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Must Sell 20 Petrol Stations: Z Cleared To Buy Caltex Assets

Z Energy is allowed to buy the Caltex and Challenge! petrol station chains but must sell 19 of its retail sites and one truck-stop, the Commerce Commission has ruled in a split decision that acknowledges possible retail price coordination between fuel retailers occurs in some regions. More>>

ALSO:

Huntly: Genesis Extends Life Of Coal-Fuelled Power Station To 2022

Genesis Energy will keep its two coal and gas-fired units at Huntly Power Station operating until 2022, having previously said they'd be closed by 2018, after wringing a high price from other electricity generators who wanted to keep them as back-up. More>>

ALSO:

Dammed If You Do: Ruataniwha Irrigation Scheme Hits Farmer Uptake Targets

Enough Hawke's Bay farmers have signed up for water from the proposed Ruataniwha Water Storage Scheme for it to go ahead as long as a cornerstone institutional capital investor can be found to back it, its regional council promoter announced. More>>

ALSO:

Reserve Bank: OCR Stays At 2.25%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2.25 percent, in a decision traders had said could go either way, while predicting inflation will pick up as the slump in oil prices washes out of the data and capacity pressures start to build in the economy. More>>

ALSO:

Export Values Down: NZ Posts Biggest Annual Trade Deficit In 7 Years

New Zealand has recorded its biggest annual trade deficit since April 2009, reflecting weaker prices of agricultural commodities such as dairy products, beef and lamb, and increased imports of vehicles and machinery. More>>

ALSO:

Currency Events: NZ's New $5 Note Wins International Banknote Award

New Zealand’s new Brighter Money $5 note has been named Banknote of the Year in a prestigious international competition. The $5 note was awarded the IBNS Banknote of the Year title at the International Bank Note Society’s annual meeting. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news