File photo. Photo: RNZ / Marika Khabazi
The surge in migration is showing signs of slowing.
Stats NZ numbers show a net gain of 127,400 people in the year ended November 2023, down nearly 5000 on the October annual rate.
But the gain of 4600 for the month was the lowest in more than two years.
Immigrants from India, the Philippines, China, Fiji, and South Africa dominated the record annual inflow.
Meanwhile, a record 44,500 New Zealanders left the country, nearly half of whom headed to Australia.
The immigration surge has reflected loosened visa rules to fill labour shortages and the return of overseas students.