Bloomberg
New Zealand’s population grew by the most since 2024 in the first quarter, as signs emerge that the exodus of citizens is slowing.The estimated population increased by 0.8 percent, or 43,500 people, in the 12 months through March, reaching 5.36 million, Statistics New Zealand said yesterday in Wellington. That was the strongest annual expansion since the fourth quarter of 2024.The modest increase is in contrast to the middle last year, when population growth was just 0.6 percent — the weakest in 13 years excluding a period in 2021 and 2022 when the border was closed to most foreigners during the COVID-19 lockdown.
New Zealand Prime Minister Christopher Luxon announces a cabinet reshuffle at Parliament in Wellington, New Zealand, on April 2.
Still, it remains well short of the average 64,400 over the past 15 years.“Both migration and population growth are below their long-term average level, and we expect both to remain at a similarly modest level for the short-to-medium term,” Infometrics economist Nick Brunsdon said in an e-mailed note.
The pick-up in population should help fan demand in an economy that has struggled to gain much momentum over the past year, although the immediate outlook has turned gloomy as the Middle East conflict drives up fuel costs. The risk is that new arrivals fail to find work in a slowing economy, pushing up the unemployment rate, while New Zealanders would again start looking overseas for job opportunities and higher pay.Net immigration added 24,300 people to the population in the 12 months through March, also the most since 2024, the report showed.A report last week showed the number of migrants arriving in the country was the most since February last year while the number leaving was the lowest since mid-2024. The number of New Zealand citizens who departed was the lowest since August 2023.Signs the exodus of citizens is slowing might ease pressure on New Zealand Prime Minister Christopher Luxon, who has said his center-right government is a better economic manager than the opposition, but has yet to convince voters. His party has trailed in recent polls and an election is due in November.
