Net migrant inflows to New Zealand rise in September, likely to remain strong

Net migration flows to New Zealand remained almost the same in annual terms in September. However, there was a huge rise in the monthly net migration flows. Seasonally adjusted, a net inflow of 6,340 migrants was recorded in September. This is a new monthly record. Broadly, the net inflows have been slightly low as compared with late last year; however, it continues to be high historically, with the three month annualized net inflow at 70.6k, noted ANZ in a research report.

Permanent and long-term (PLT) arrivals rose 5.9 percent sequentially in seasonally adjusted basis. It continues to stay at a historically high level. Policy changes in recent times are greatly tinkering at the edges and are unlikely to have a large and rapid effect on the number of arrivals, stated ANZ. Arrivals in the last 12 months have reached 125.6k, with solid figures on work visas, returning New Zealand citizens and residence visas.

But there is a slowdown in student visa arrivals from India. Student arrivals in the 12 months ending September from all the countries totalled 25.6k. It continues to be strong, but is down 5.1 percent year-on-year, said ANZ.

PLT departures dropped again by 1.3 percent sequentially and continue to be at a low level. This shows that the Australian economy is not outperforming. Visitor arrivals rose 3.6 percent sequentially, rebounding to a new monthly record, following a slight decline in August. Year-on-year growth continues to be quite strong at 13 percent.

Growth of arrivals from China weakened slightly; however, arrivals growth from other Asian nations such as Malaysia and Korea continue to be strong. Arrivals growth from mature markets such as Europe and the U.S. also remains strong. According to ANZ, the net migrant inflows are likely to remain strong and is stimulating both demand and supply in the New Zealand economy.