National population estimates

Population growth remains limited

17 Aug 2021

Our take on the latest National population estimates (Tue 17 Aug 2021)

Total NZ population estimate
5,122,600
As at June 2021
Population growth slows to 0.6%pa
Annual net migration 4,700

The key numbers...

  • New Zealand’s resident population is estimated to be 5,122,600 as at June 2021. The population has grown by 32,400 (0.6%pa) over the past year.
  • Annual net migration remains incredibly muted, with a net inflow of only 4,700 migrants over the past 12 months. 
  • Population growth remains strongest for those aged above 65, with the estimated population growing 3.4%pa. In contrast, the working-age population grew by 0.1% over the same period.
  • The median age of the population continues its slowly increasing trend, sitting at 38 years of age.

Population growth by age

Annual % changes
4014

...and our reaction

  • Throughout much of the 2010s, population growth relied on high levels of migration. With borders closed for the time being, we do not expect population growth to pick up significantly any time soon.
  • Slow population growth, particularly for the working-age population, is providing little relief for businesses looking for more workers in such a tight labour market.
  • The government has recently announced changes to allow Recognised Seasonal Employers (RSE) to bring some migrant workers into the country without requiring quarantine, which well help labour shortages in some industries. However, these changes will not address the large labour shortages felt across the broader economy.