New Zealand’s net migration, which is the number of those arriving minus those leaving, also fell with foreign nationals moving to the country of 5.3 million nearly halving from 2024.
The rush to leave comes amid one of the worst economic downturns since 1991, which analysts blame on low productivity and various policy missteps.Unemployment ticked up to a near five-year high of 5.2% in the second quarter, data showed last week, while the labour force participation rate – which includes workers either employed or actively looking for work – fell to its lowest since the first quarter of 2021.
Since August 2024, the Reserve Bank of New Zealand has cut its cash rate by 225 basis points to support an economy which sank into recession last year. The economy showed signs of improvement with gross domestic product increasing 0.8% in the first quarter.
New Zealanders aged 18 to 30 years made up 38% of the departures, compared with a peak of 60% in 1979.
Economists and analysts have said New Zealanders, stung by fewer job opportunities and the cost of living, are looking to move to neighbouring Australia, Britain and elsewhere.
Australia has been offering relocation packages in sectors where they have skill shortages to lure New Zealanders, who do not need visas to work there.
