The Australian Bureau of Statistics (ABS) has released visitor arrivals and departures data for the month of March, which registered a significant fall in net long-term and permanent migration into Australia.
In the year to March 2014, there were 766,270 permanent and long-term arrivals into Australia – down from the record 792,500 arrivals set in the year to January 2013 – partly offset by 380,910 permanent and long-term departures from Australia (see next chart).
There were 385,360 net permanent and long-term arrivals into Australia in the year to March 2014, down from 393,340 net arrivals in the year to February 2014, but still representing a 36% increase from the January 2011 trough and well over double the long-run average of 153,192 (see next chart).
It looks from the above chart that overall net long-term migration into Australia has peaked. Moreover, permanent migration is also softening. In the year to March 2014, permanent arrivals fell by 3% to 147,220, whereas permanent departures fell by a more moderate 2% to 88,640 (see next chart).
Taken together, net permanent arrivals into Australia fell by 6% over the year and are tracking 10% below the long-run average (see next chart).
