In April, a total of 5,520 seasonally adjusted migrants arrived in New Zealand, an increase from March’s nine-month low of 5,330. Even though the number of migrants is quite strong, it is slightly weaker than the number seen in recent months. Net inflow of more than 6000 was witnessed in four of the seven months since October 2015. The three month average, in annualized terms, has dropped to 67.4 k from a recent high of almost 72 k.
There are certain indications of an increase in PLT departures. Departures, in seasonally adjusted terms were up 7.6% m/m in April. They rose to the highest level in almost 12 months. According to Statistics NZ, there was an outflow of migrants to Australia. The net outflow of migrants last month might be part of an early turn, given Australia’s better labor market results, said ANZ in a research report. However, PLT arrivals continue to be high. In April, the seasonally adjusted long-term arrivals were up 5.5% m/m and continue to be close to all-time highs.
Even if the rise in departures has to be closely watched, New Zealand’s economy continues to perform better than the other international peers, indication it continues to be an attractive destination for migrants, added ANZ.
