National population estimates

Migration outflow limits population growth

16 May 2022

Our take on the latest National population estimates (Mon 16 May 2022)

Total NZ population estimate
5,127,100
As of March 2022
Population growth steady at 0.4%pa
Annual net migration -7,300 in the year ended March 2022

The key numbers...

  • New Zealand’s estimated resident population grew 0.4% in the year to March 2022, reaching 5,127,100.
  • Annual net migration was negative, with a net outflow of 7,300 people over the year to March 2022.
  • Natural increase kept population growth positive, with births exceeding deaths by an estimated 26,500 people in the year to March 2022.
    The working age population shrank 0.2% in the March year, with a 3.1% reduction in the number of people in their 20s over the last 12 months as more young people headed overseas.

Brain drain underway

Estimated population, annual % change
4245

...and our reaction

  • The brain drain is underway. Young New Zealanders are heading overseas, as the number of people in their 20s fell in March for the eighth consecutive quarter.
  • The level of new arrivals is not sufficient to offset departures, with net migration negative for a sixth consecutive quarter, which is dragging down population growth.  
  • The working age population is falling due to strong migration outflows, with the number of 15- to 64-year-olds shrinking 0.1% over the last year. The young work force is shrinking faster, as the number of 20- to 39-year-olds fell 0.7% over the last year.
  • We expect weak net migration to persist throughout 2022 and 2023 as many Kiwis are drawn overseas by a combination of pent-up demand to travel, a lower cost of living, and higher average wages.
  • We also expect immigration numbers of foreign citizens to New Zealand to remain low. Immigration NZ cut resources when COVID-19 struck due to limited migration activity, and it may take some time to get back to a pre-pandemic processing capacity.