Migration remained relatively weak in November, as large numbers of people moved to Australia.
Official figures show a seasonally adjusted gain of 630 long-term and permanent migrants in November, 10 less than in the previous month.
ANZ senior economist Sharon Zollner says departures remain at high levels, but arrivals are flat, so net migration is falling.
Meanwhile, the number of visitors to New Zealand rose 3% in November, compared to the same month last year, with more visitors from China and South Korea but fewer from Britain.
