"The slowing of annual net migration was driven by record non-New Zealand citizen migrant departures," population statistics senior manager Peter Dolan said.
"There were 27,800 in the November 2017 year, compared with 22,900 in the November 2016 year."
More non-citizen migrants arrived in the latest year, at 99,500 from 95,100 a year earlier.
Chinese migration continued to be the largest on a net basis, with 9,500 of the 70,400 net arrivals coming from China, though that was down 7.9 per cent on a year earlier. India was the second-largest source at a net 6,800, though Indian net migration was down 25 per cent from a year earlier, with a 17 per cent drop in annual student visas granted to Indian citizens.
Net arrivals from Australia plummeted to 20 people in the latest year, from 1,800 a year earlier. US net migration jumped 50 per cent to 2,000 in the year, while UK net migration rose 20 per cent to 6,500.
China continued to be the biggest source of migrants on residence visas, though that dipped 7 per cent to 3,100 in the year, while the total number of residence visas dropped 4.7 per cent to 15,700.
There was a 12 per cent increase in work visas granted in the year, to 46,200, while student visa numbers dropped 2.5 per cent to 24,000.
Short-term visitor arrivals, which include tourists, people visiting family and friends and people travelling for work, reached 3.7 million in the November year, up 8 per cent from a year earlier and a new annual record, Stats NZ said.
The number of people coming to New Zealand on holiday rose 8.6 per cent on an annual basis to 1.9 million people.
New Zealand residents took 2.8 million overseas trips in the year, up 10 per cent from the previous year, with the biggest increases from people going to French Polynesia, Japan, and Spain.
There was also a large jump in New Zealand-resident travellers not stating where they were going, up 63 percent in the latest year to 125,000 people.
The most popular destination was still Australia, with 1.2 million New Zealand residents travelling there in the year, up 4.8 per cent annually.