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

 

NZ posts new annual migration record in March year

Thursday 21 April 2016 12:09 PM

NZ posts new annual migration record in March year

By Tina Morrison

April 21 (BusinessDesk) - New Zealand set a new annual migration record for a 20th month in March, as more people moved across the Tasman from Australia.

New Zealand had net migration of 67,600 in the 12 months through March 31, Statistics New Zealand said. Migrant arrivals rose 9 percent to 124,100 while departures slid 2 percent to 56,400. Net migration from Australia was a gain of 1,900, the highest since August 1991 and the sixth straight month of annual gains.

Record migration has helped underpin economic growth, with the economy expanded at a 2.3 percent annual pace in the fourth quarter of last year, boosting demand for housing, vehicles, services and retailing. Migration has continued at a stronger pace than Treasury and the Reserve Bank expected, keeping wage inflation low even as demand rises.

"Strong growth in the population as a result of net migration has been a key contributor to growth in spending and economic activity more generally, and has boosted the economy’s productive capacity," Westpac Banking Corp senior economist Satish Ranchhod said in a note.

Still, Ranchhod noted that seasonally adjusted net migration slowed to 5,300 for the March month, from 6,000 in February. That's the lowest monthly increase since May 2015.

"Migration can be volatile on a month-to-month basis, so we’re careful not to place too much weight on one month’s data," Ranchhod said. "This could be the first sign that things are starting to turn."

Those on work visas jumped 12 percent to 38,620 in the year through March, while student visas climbed 8.7 percent to 27,704 and arrivals of New Zealand and Australian citizens gained 5.9 percent to 36,355. India remained the biggest source of student arrivals even as the annual tally slipped 4.1 percent to 9,815. It was followed by students from China, up 20 percent to 5,719, and students from the Philippines which increased 70 percent to 2,239.

Work visa arrivals were led by those from the UK, France, Germany and Australia.

The biggest influx was to Auckland, where migrant arrivals rose 10 percent to 52,443 in the March year. Arrivals to Canterbury rose 5.4 percent to 12,864 while those headed to Wellington increased 13 percent to 9,194.

Tourism continued to boom, with visitor arrivals rising 10 percent a record 3.26 million in the year through March.

"China’s burgeoning middle class is boosting the pool of potential tourists," ASB Bank economist Kim Mundy said in a note. "Combined with increased numbers of holidaymakers from the US and Australia, tourism growth continues to grow strongly."

The increase in tourist numbers and international students has helped boost exports of services – which is now the strongest performing sector of the New Zealand economy, Mundy said.

(BusinessDesk)

ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Tourism: Employers Welcome Back Working Holidaymakers

Tourism businesses gearing up for the return of Australian visitors from next week will be relieved to learn that they will also have access to an offshore pool of much-needed job candidates, Tourism Industry Aotearoa says. Tourism employers around ... More>>

Commerce Commission: Latest Broadband Report Confirms Improved Performance Of Premium Fibre Plans

The latest report from the Commerce Commission’s Measuring Broadband New Zealand programme shows that the performance of Fibre Max plans has improved substantially. This follows a collaboration between the Commission, its independent testing partner, ... More>>

Air New Zealand: Capital Raise Deferred

Air New Zealand has decided to defer its planned capital raise to later in 2021 allowing more time to assess the impacts of recent developments on the airline’s path to recovery. 'We’ve seen some clearing of COVID-19 clouds recently, with ... More>>

Commerce Commission: Cartel Conduct Now Punishable By Up To 7 Years’ Jail Time

Cartel conduct can now be punished with a term of imprisonment of up to 7 years, after the Commerce (Criminalisation of Cartels) Amendment Act 2019 came into effect today. Cartel conduct includes price fixing, market allocation and bid rigging (see ... More>>

Stats NZ: New Report Shows Impact Of Demands On Land In New Zealand

A new environmental report released today by the Ministry for the Environment and Stats NZ, presents new data on New Zealand’s land cover, soil quality, and land fragmentation. The land cover data in the report, Our land 2021 , provides the most ... More>>

ALSO:

Stats NZ: March Card Spending Rebounds Despite COVID

There was a lift in retail card spending in March following a fall in the lockdown-disrupted February month, Stats NZ said today. Seasonally adjusted retail card spending rose by $53 million (0.9 percent), compared with February 2021. Visit our website to read ... More>>

PwC: Outcome Of Review Into Air New Zealand Gas Turbines Business

Air New Zealand has received the report into its Gas Turbines business from independent external advisers PwC. Air New Zealand Chairman Dame Therese Walsh says the report identified a range of effective controls in the Gas Turbines revenue contracting ... More>>