The top line in this graph shows the total annual migration to New Zealand. The bottom line shows the annual total of those who came to New Zealand, less those who left. It suggests that through most of the 1920s there was a consistent inflow of migrants. But as the economic downturn really hit New Zealand, more people left the country than arrived. This was not reversed until the three years before the Second World War.
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Te Ara - The Encyclopedia of New Zealand
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Source: Statistics New Zealand
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