Migration gains hits 7-year low

New Zealand's net migration gain in the year to October was the lowest for any 12-month period in seven years, new figures show.

Statistics New Zealand (SNZ) today said there were 87,400 permanent and long term (PLT) arrivals in the year.

While that figure was up 6 per cent from the October 2007 year, the 83,000 PLT departures were up 10 per cent.

As a result net PLT migration was just 4300, down from 7500 in the October 2007 year and the lowest since 1700 in the October 2001 year.

The 34,600 net PLT outflow to Australia in the October 2008 year was the highest in at least 30 years.

For the month of October, PLT arrivals exceeded departures by 1500, slightly down from 1600 in October 2007. That was a result of 700 more arrivals and 800 more departures, SNZ said.

Seasonally adjusted, PLT arrivals matched PLT departures last month, as was the case in September. Net PLT inflow averaged 500 between January 2007 and August this year.

- NZPA

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