WELLINGTON: 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 per cent, or 43,500 people, in the 12 months through March, reaching 5.36 million, Statistics New Zealand said Monday in Wellington. That’s the strongest annual expansion since the fourth quarter of 2024.
The modest increase is in contrast to mid-2025 when population growth was just 0.6 per cent - the weakest in 13 years excluding a period in 2021 and 2022 when the border was closed to most foreigners during the Covid lockdown.
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 emailed 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 will 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, today’s 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 may ease pressure on Prime Minister Christopher Luxon, who argues his centre-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. - Bloomberg
