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

 


NZ inbound net migration holds up in December

NZ inbound net migration holds up in December as Australian exodus slows

Jan. 30 (BusinessDesk) - New Zealand’s inbound migration stayed elevated in December as the number of new migrants continued to rise and fewer locals packed up to cross the Tasman.

The country gained a seasonally adjusted 2,800 net new migrants in December, largely unchanged from a month earlier, according to Statistics New Zealand. Seasonally adjusted, about 2,600 people left New Zealand for Australia, in line with a month earlier, while the number of new arrivals rose to 8,300 from 8,200 in November.

On an annual basis, New Zealand gained a net 22,500 new migrants, compared to an outflow of 1,200 a year earlier. That’s the biggest inflow of migrants since 2003, when the country gained a net 34,900 migrants.

Inbound migration is seen as one of the factors driving New Zealand’s accelerating economic momentum as it fuels a bubbling property market. The Reserve Bank today signalled an interest rate hike is imminent as it looks to head off inflationary pressures, in an economy that’s expected to grow at an annual pace of about 3.5 percent this year.

Australia was the biggest contributor of new migrants, with 19,500 permanent and long-term arrivals in 2013, a gain of 31 percent from a year earlier. That was followed by 14,000 people from the UK, down 0.4 percent from 2012 and 8,200 people from China, up 5.9 percent.

Today’s figures also showed a 4.9 percent rise in short-term visitor arrivals to 381,900 in December from the same month in 2012, for an annual gain of 6 percent to 2.72 million. Increasing numbers of Australian and US visitors offset declining numbers of Chinese in December.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business:
NZ Puts Seven New Oil And Gas Areas Put Up For Tender

A total of seven new areas will be opened up to oil and gas exploration under its block offer tendering system, as the New Zealand government seeks to concentrate activity in a few strategically chosen areas. More>>

ALSO:

Half Full: Dairy Payouts Steady, Cash Will Be Tight

Industry body DairyNZ is advising farmers to focus on strong cashflow management as they look ahead to the 2015-16 season following Fonterra's half-year results announcement today. More>>

ALSO:

First Union: Cotton On Plans To Use “Tea Break” Law

“The Prime Minister reassured New Zealanders that ‘post the passing of this law, will you all of a sudden find thousands of workers who are denied having a tea break? The answer is absolutely not’... Cotton On is proposing to remove tea and meal breaks for workers in its safety sensitive distribution centre. How long before other major chains try and follow suit?” More>>

ALSO:

Scoop Business: NZ-Korea FTA Signed Amid Spying, Lost Sovereignty Claims

A long-awaited free trade agreement between New Zealand and South Korea has been signed in Seoul by Prime Minister John Key and the Korean president, Park Geun-hye. More>>

ALSO:

PM Visit: NZ And Viet Nam Agree Ambitious Trade Target

New Zealand and Viet Nam have agreed an ambitious target of doubling two-way goods and service trade to around $2.2 billion by 2020, Prime Minister John Key has announced. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news