In 12 months, people left New Zealand in record numbers until November, according to Reuters
By Lucy Kramer
WELLINGTON (Reuters) – (This Jan. 22 story has been amended to read ’12 months to November’ instead of ‘year to November’ in the headline and paragraphs 1, 2 and 8. From ‘year to October’ in paragraph 8; and to add the words omitted in paragraph 10) from New Zealand Outtakes achieved records in the 12 months to November 2024. Another sign of weakness in the country’s economy, which slipped into a technical recession in the third quarter.
Data released by Statistics New Zealand on Thursday showed 127,800 people left the Pacific nation in the 12 months to November, up 28 per cent on the previous 12-month period. According to the Bureau of Statistics, this is the highest they have temporarily released in a year.
The data shows that more than 50% of those who left were New Zealanders.
New Zealand, with a population of 5.3 million, has seen its economy struggle over the past two years as the central bank has increased official monetary policy to dampen historically high inflation.
According to Michael Gordon, a senior economist at Westpac, many people come to New Zealand for job opportunities and these dry people leave.
“It’s about job opportunities, especially here[in New Zealand]with Australia. The Australian economy is still doing reasonably well,” Gordon said. “There’s a lot of opportunity out there now so we’re seeing a very high influx of Kiwis.”
However, those leaving will continue to be frustrated by internal migration.
Statistics New Zealand said net migration – the number of people leaving New Zealand permanently – was 30,600 in the 12 months to November 2024.
Gordon added that net migration has now returned to historical averages and that in the long run net migration will support the nation’s economy.
“It’s important to remember that for a large part of the world, New Zealand is an attractive place to live, but for us (New Zealand) it’s important to note that there are places that look more attractive, like Australia or the United States or the United Kingdom,” Gordon said.