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

 


NZ net migration at decade-high in Feb, China main source

NZ net migration at decade-high in February as China topples UK as main source

By Suze Metherell

March 21 (BusinessDesk) – New Zealand’s inbound net migration rose to a 10-year high in February, as fewer kiwis jumped the ditch to Australia and China became the biggest source of net migrants for the first time in a decade.

The country gained a seasonally adjusted 3,500 net new migrants in February, the most since April 2003, and up from 3,100 in January, according to Statistics New Zealand. Seasonally adjusted there was a net outflow of 600 people to Australia in February, down from 850 in January.

On an annual basis, New Zealand net migration rose 13 percent to 96,900 people for the year ended February, while departures fell 20 percent to 67,800. China became the biggest source of net migration for the first time in a decade, with a net gain of 6,100 people, followed by India with more than 5,800, and pipping the UK which had previously provided the biggest net migrant gain.

Chinese long-term arrivals rose 8.7 percent to 8,556 in the year ended Feb. 28, and are up 14 percent over the past two years. At the same time, UK arrivals, slipped 0.6 percent to 13,929, and are down 3.1 percent over the past two years.

Last week the Reserve Bank said net migration has rapidly increased over the past 18 months, boosting demand for housing and consumer spending, and is seen as an inflationary pressure that prompted the bank to lift the official cash rate a quarter-point to 2.75 percent.

“This monthly result suggests migration flows may be starting to run a little ahead of our forecasts, although it is difficult to judge whether that will be sustained,” ASB economist Dan Smith said in a note. “Strong inwards migration will continue to add to domestic demand and housing market pressures, and is one of the reasons why interest rates will rise over the next couple of years.”

Auckland attracted most of the nation’s new migrants with a net gain of 13,700 in the year. Canterbury followed with a net gain of 5,100 migrations, while Otago recorded a net increase of 600 migrants and Wellington attracted 400 new net migrants.

Today’s figures also showed short-term visitor arrivals rose to a record for a February month, led by an increase in Australian visitors. Total visitor arrivals rose 7 percent to 301,200 people from the same month the previous year. More than 105,500 Australians visited New Zealand in February, offsetting declines in Chinese and Hong Kong visitors due to an earlier Lunar New Year.

On an annual basis visitor arrivals rose 7 percent to 2.77 million in the year ended February. Australians made up the bulk of the arrivals, with a 6 percent gain to 1.23 million. German visitors were the fastest growing group, up 16 percent to 73,760, while Chinese arrivals grew 14 percent to 237,200 visitors.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Fisheries: Report On Underrsize Snapper Catch

The report found that commercial fishers caught 144 tonnes of undersized snapper in the Snapper 1 area – about 3% of the total commercial catch – in the year ending February 2015. The area stretches from the top of the North Island to the Bay of Plenty and is one of New Zealand’s most important fisheries. More>>

ALSO:

Tourism: China Southern Airlines To Fly To Christchurch

China Southern Airlines, in partnership with Christchurch Airport and the South Island tourism industry, has announced today it will begin flying directly between Guangzhou, Mainland China and the South Island. More>>

ALSO:

Dodgy: Truck Shops Come Under Scrutiny

Mobile traders, or truck shops, target poorer communities, particularly in Auckland, with non-compliant contracts, steep prices and often lower-quality goods than can be bought at ordinary shops, a Commerce Commission investigation has found. More>>

ALSO:

Auckland Transport: Government, Council Agree On Funding Approach

The government and Auckland Council have reached a detente over transport funding, establishing a one-year, collaborative timetable for decisions on funding for the city's transport infrastructure growth in the next 30 years after the government refused to fund the $2 billion of short and medium-term plans outlined in Auckland's draft Unitary Plan. More>>

ALSO:

Bullish On China Shock: Slumping Equities, Commodities May Continue, But Not A GFC

The biggest selloff in stock markets in at least four years, slumping commodity prices and a surge in Wall Street's fear gauge don't mean the world economy is heading for another global financial crisis, fund managers say. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news