KEY POINTS:
New Zealand had a net gain of 1561 permanent and long term migrants in October compared with a gain of 2353 in October 2006 and the exodus to Australia gathered pace, according to Statistics New Zealand data today.
A net 1950 left permanently to Australia in October compared with 1668 a year ago.
For the year to October a net 26,476 left for Australia compared with 20,664 in the year to October 2006. It is the largest number of net departures to Australia since October 2001 when 27,175 quit the country.
There was a net inflow of 1200 from the UK (down from 1700 in October 2006), and 200 each from the Philippines, Germany, China, India and Fiji.
In the year to 2007, there were 82,700 permanent arrivals, up 500 from the October 2006 year. Over the same period there 75,1000 long term departures, up 10 per cent, giving a net gain of 7500 migrants against 13,800 in the year to October 2006.
Net migration gains -- a key factor in driving economic growth -- peaked in the year to May 2003 at 42,500, but have been easing because of tighter immigration rules, a fall in the number of foreign students studying in New Zealand, fewer New Zealanders returning home and more moving overseas.
The annual gain bottomed out in late 2005 at around 6000 and recovered to around 13,000, but has started to turn lower again over the past several months.
ASB economist Daniel Wills said the moderation in net migration over recent months reflected a pick-up in long term departures, particularly to Australia.
He said the trend was in line with Reserve Bank forecasts.
- NZPA
