People leave New Zealand in record numbers in the 12 months through November

Published 01/22/2025, 07:28 PM
Updated 01/24/2025, 04:55 PM
© Reuters. FILE PHOTO: The skyline of Auckland, New Zealand, is seen at sunset. Auckland, New Zealand - August 3, 2023 REUTERS/Molly Darlington/File Photo

By Lucy Craymer

WELLINGTON (Reuters) - (This Jan. 22 story has been corrected to say '12 months through November,' not '12 months to November,' in the headline and paragraphs 1, 2, and 8; to say 'ended Oct. 30,' not 'ended October' in paragraph 8)

People leaving New Zealand hit record levels in the 12 months through November 2024, in another sign of the weakness in the country’s economy that moved to a technical recession in the third quarter.

Data released by Statistics New Zealand on Thursday showed that 127,800 people left the Pacific nation in the 12 months through November, up 28% on the prior 12-month period. This was provisionally the highest number of people leaving in an annual period ever, according to the statistics bureau.

Of those leaving, more than 50% were New Zealand citizens, according to the data.

New Zealand, which has a population of just 5.3 million, has seen its economy struggle over the last couple of years as the central bank increased the official cash rate to dampen historically high inflation.

Michael Gordon, senior economist at Westpac, said that a lot of people come to New Zealand for work opportunities and when these dry up people leave.

"It’s about work opportunities, especially here (New Zealand) versus Australia. Australia’s economy is still running reasonably strongly," Gordon said. “There are more opportunities over there now so we are seeing quite high outflows of Kiwis.”

However, people leaving does continue to be offset by inward migration.

Statistics New Zealand said net migration – the number of people moving to New Zealand permanently minus those leaving New Zealand – was at 30,600 in the 12 months through November 2024. Net migration peaked in the 12 months ended Oct. 30, 2023 at 135,700.

© Reuters. FILE PHOTO: The skyline of Auckland, New Zealand, is seen at sunset. Auckland, New Zealand - August 3, 2023 REUTERS/Molly Darlington/File Photo

Gordon added that net migration was now back at historic averages and that over the longer term net migration would support the country's economy.

"It’s something to keep in mind, that for a big chunk of the world, New Zealand is an attractive place to live, but also for us (New Zealanders) there are also places that look more attractive like Australia, or going to the U.S. or the UK," Gordon said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.