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

 


NZ net migration climbs to decade-high in January

NZ net migration climbs to decade-high in January with more arrivals, fewer departures

Feb. 27 (BusinessDesk) - New Zealand’s inbound net migration rose to a 10-year high in January as fewer people quit the country to cross the Tasman and the number of new migrants continued to gain.

The country gained a seasonally adjusted 3,100 net new migrants in January, the most since May 2003, and up from 2,900 in December, according to Statistics New Zealand. Seasonally adjusted, there was an outflow of about 2,640 people to Australia, while about 8,210 new migrants arrived in New Zealand.

On an annual basis, New Zealand gained about 26,700 migrants, compared to a largely flat level a year earlier. In the year, there was as net loss of 17,400 people to Australia, down from 37,900 a year earlier, with net gains led by migrants from the UK at about 6,000, China with 5,700, India at 5,600, the Philippines at 2,400 and Germany at 2,300.

Auckland attracted the biggest gain in net migration at 12,300, followed by Canterbury with 4,800, then Otago at 600 and Wellington at 300. Auckland and Wellington’s net gains were largely in professionals, while Canterbury attracted technicians and trades workers and Otago community and personal service workers, Statistics NZ said.

Inbound migration is seen as one of the factors driving New Zealand’s accelerating economic momentum as it fuels a bubbling property market, and the Reserve Bank has cited it as influencing its thinking as it prepares to embark on hiking interest rates to head off future inflation.

Today’s report also showed a 12 percent increase in the number of short-term arrivals to 292,400 in January from the same month a year earlier, for an annual gain of 7.5 percent to 2.75 million. The monthly gain was underpinned by a 60 percent surge in the number of Chinese visitors to 30,100 and an almost doubling of people from Hong Kong to 3,100 coinciding with the Chinese New Year.

The increase in Chinese visitors was the first gain since September 2013 after new Chinese travel regulations in October led to a drop-off in tourist numbers.

(BusinessDesk)


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Interest Rates: Wheeler Hikes OCR To 3% On Inflationary Pressures, Eyes Kiwi

Reserve Bank governor Graeme Wheeler lifted the official cash rate for the second time in as many months, saying non-tradable inflationary pressures were "becoming apparent" in an economy that’s picking up pace and he's watching the impact of a strong kiwi dollar on import prices. More>>

ALSO:

Scoop Business: Equity Crowd Funding Carries Risks, High Failure Rate

Equity crowd funding, which became legal in New Zealand this month, comes with a high risk of failure based on figures showing existing forays into social capital have a success rate of less than 50 percent, one new entrant says. More>>

ALSO:

Scoop Business: NZ Migration Rises To 11-Year High In March

The country gained a seasonally adjusted 3,800 net new migrants in March, the most since February 2003, said Statistics New Zealand. A net 400 people left for Australia in March, down from 600 in February, according to seasonally adjusted figures. More>>

ALSO:

Hugh Pavletich: New Zealand’s Bubble Economy Is Vulnerable

The recent Forbes e-edition article by Jesse Colombo assesses the New Zealand economy “ 12 Reasons Why New Zealand's Economic Bubble Will End In Disaster ”, seems to have created quite a stir, creating extensive media coverage in New Zealand. More>>

ALSO:

Thursday Market Close: Genesis Debut Sparks Energy Rally

New Zealand stock rose after shares in the partially privatised Genesis Energy soared as much as 18 percent in its debut listing on the NZX, buoying other listed energy companies in the process. Meridian Energy, MightyRiverPower, Contact Energy and TrustPower paced gains. More>>

ALSO:

Power Outages, Roads Close: Easter Storm Moving Down Country

The NZ Transport Agency says storm conditions at the start of the Easter break are making driving hazardous in Auckland and Northland and it advises people extreme care is needed on the regions’ state highways and roads... More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news