Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Exporting manufacturers: Heroes of the economy

Tuesday, December 14th, 2004

Exporting manufacturers: Heroes of the economy

The remarkable performance by our exporters of manufactured goods this year deserves national recognition. If there was an award for the Heroes of the Economy, they would have to be the top contenders.

Bruce Goldsworthy, Manager of Advocacy Services for the Employers & Manufacturers Association (Northern) said manufacturers grew their exports over the past year by 6.8 per cent to reach $12.5 billion though the exchange rate moved against them in US dollar terms about 10 per cent, while their price competitiveness in Australia was whittled back 7.25 per cent.

"Exports of manufactured goods to the US increased 6.05 per cent to $1,874 million (September year, excluding dairy, meat, seafood and wool) and to Australia by 4.72 per cent to reach $4,632 million," Mr Goldsworthy said.

"The heightened competitiveness demonstrated by our exporters, particularly exporters of elaborately transformed products, is the underlying reason for the economy's sustained buoyancy. It must raise questions over our official productivity figures.

"With the housing boom settling on a plateau, and immigration declining, exporting manufacturers are meeting the challenge to keep the economy growing.

"Exporters of agricultural commodities lifted earnings substantially during the year as well though they are dependent on world market pricing, and other factors over which they have no influence including the weather.

"Demand offshore for our manufactured exports is largely reliant on kiwi skills, innovation, design, marketing and technical know how.

"The fastest growing market for manufactures has been Thailand which rose 30.7 per cent (for the September year end) to $95.7 million. The FTA with Thailand just signed should see this trade expand further.

"In the same period exports of kiwi made elaborately transformed products to China rose seven per cent to $428.5 million.

"The fastest growing exports to China are surprisingly not milk powder or meat products. They include sawn timber and wood products (up 32.5 per cent to $97.3m), electrical equipment up 30 per cent to $21.5m), industrial machinery and equipment (up 218 per cent to $22.3m.) and electronic equipment (up 50 per cent to $10.3m.)

"Some fast growing, less familiar manufactured export categories worldwide (October year end) include architectural aluminium products (up 73 per cent to $18.9 m), professional and scientific instruments (up 38.7 per cent to $151.6m), agricultural machinery (up 30 per cent to $166.4 m), pumps & compressors (up 51 per cent to $53.9m), prefabricated buildings (up 98 per cent to $25m), sheet metal furniture (up 83 per cent to $33m), mechanical machinery (up 11.6 per cent to $1,542m), and electrical machinery (up 9.5 per cent to $998m). Wine exports were up 22 per cent to $371m."

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>

ALSO:

Results:

Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news