New Zealand net migration rises to record high in October, population growth steers fastest in 40 years

Net migration in New Zealand rose to record high levels during the month of October, with population growth in the country steering to the fastest rate in 40 years.

New Zealand’s annual net gain in migrants for the year to October was 70,300. That beats the record of 70,000 for the year to September 2016, data released by Statistics New Zealand showed Tuesday. The migrant arrivals numbered 126,000 in total in the October year, a new annual record.

Further, migrant departures were 55,800 in the year to October. Statistics New Zealand did not give a full breakdown on the migration statistics this month due to earthquake disruption.

Further, permanent and long term arrivals rose 126,117 in the 12 months to October 31, while permanent and long term departures dropped to 55,835. Meanwhile, the net gain from migration was 70,282, several hundred higher than the record hit in the 12 months to September 30.

Meanwhile, NZD/USD is trading 0.03 percent up at 0.7067, while at 6:00GMT, the FxWirePro's Hourly NZD Strength Index remained neutral at -7.24 (higher than the -75 benchmark for bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex