The number of people leaving the country long-term hit another new record in the year to January - but monthly data suggests the brain drain has peaked.

Stats NZ provisional data for the January 2025 year (compared with January 2024) showed migrant departures up 18 percent to 122,800, the highest on record for an annual period.

Migrant arrivals, at 155,300 were down, 31 percent for the year.

NZ Herald business editor at large, Liam Dann, explains what this means for the New Zealand economy.

LISTEN ABOVE

• Brain drain confirmed in new migration data
• Brain drain: A record 81,200 Kiwis departed in year to August as fewer migrants arrived
• Kiwi citizens still departing at historically high levels, net migration gain eases
• Packing their bags: Kiwis depart in record numbers, Aussie appeal on the rise
• Leaving home: New record for Kiwi departures as total net migration falls
• Net migration loss of NZ citizens tops 50,000 for first time