New Zealand in dire straits: People are leaving the country in droves as it faces a grueling recession

New Zealand was earlier considered to be one of the flourishing economies among some of the top countries in the world, but in the last couple of years, the island nation has gradually moved to recession-like scenarios. This worsening of the economic climate of New Zealand has ended up forcing people to move out of the country in search of stable livelihoods, jobs, and other opportunities.

New Zealand economy in danger?

According to a Reuters report, people leaving New Zealand for other countries has now hit record levels, especially after the country moved into a technical recession in the third quarter of its ongoing financial year. This is major bad news for the country, as well as the world economy, as their average pulls down the record total of other flourishing nations along this timeline.

Record number of people fleeing New Zealand

According to the latest data released by Statistics New Zealand, nearly 127,800 people left the Pacific nation in the 12 months to November, which is an alarming figure. This is a straight 28 per cent jump from the last data in the prior 12-month period, says Reuters.


New Zealand is not as densely populated as China, India, or even the US, and therefore such a rapid surge in people leaving the country is indeed shocking and has the potential to make the country plunge into economic darkness soon enough.

FAQs:

Is New Zealand's economy facing recession?
New Zealand is currently in a technical recession in the ongoing financial year, as per reports.

Are too many New Zealand residents fleeing the country?
The figure of New Zealand residents leaving the country and moving elsewhere has now touched 127,800 in the 12 months to November.