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

 

Wellington exporters expect business to rise

Wellington exporters expect business to rise, ExportNZ survey shows

The Wellington economy will be encouraged by news that two thirds of local exporters expect export orders to rise over the next 12 months, says ExportNZ Wellington.

John Milford, the Chief Executive of the Wellington Chamber of Commerce, which oversees ExportNZ Wellington, commented on the result of ExportNZ’s annual survey of members released today.

The survey shows that 66.7 per cent of Wellington exporting companies expect export orders across all markets to rise over the next 12 months, with 11.1 per cent expecting them to rise substantially and 55.6 per cent to rise slowly. Some 16.7 per cent expect orders to reduce slightly.

This is slightly lower than sentiment across the Central New Zealand region, where 76 per cent of companies expect exports to rise, 16.7 per cent substantially and 59.3 per cent slowly. Nationally, 80 per cent of export companies expect orders to increase, 31.6 per cent substantially and 48.5 per cent slowly.

When asked what were the top three barriers preventing companies from exporting or exporting more, exchange rate levels were cited most regularly (by 56 per cent of companies), followed by price competitiveness and funding for developing export markets (50 per cent), and cost of shipping/transport (39 per cent).

Mr Milford the numbers were good but could be better.

“Exporters typically keep a careful watch on market trends and try to plan some way ahead, so if nearly two thirds see continuing growth in their markets, then that is positive.



“Don’t forget that since the survey, the US dollar has continued to drop, so I imagine that if the survey were taken today we may well be seeing some different numbers.

“Obviously, obstacles such as trade barriers are still a challenge in some markets, and ExportNZ will continue to work with companies to help overcome this.

“We also await the outcome of the TPP negotiations which, if successful, could take things to another level completely.”

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Up 17.% In June Year: Fuel And Rent Drive Inflation

The consumers price index (CPI) rose 0.6 percent in the June 2019 quarter, due to higher prices for petrol and rent, Stats NZ said today. More>>

ALSO:

Services: Softer June Points To Economic Slowdown

Activity in New Zealand's services sector softened in June, adding to a picture of lacklustre economic growth. The BNZ-BusinessNZ performance of services index fell 0.8 of a point in June from May to a seasonally adjusted 52.7. More>>

ALSO:

Incomings: Migration Remains High

Annual net migration was provisionally estimated at 50,200 (± 800) in the year ended December 2018 compared with 52,600 in the previous year, Stats NZ said. More>>

ALSO:

BusinessDesk: ComCom Files High Court Proceedings Against Westpac

The commission alleges the bank breached the Credit Contracts and Consumer Finance Act 2003 by failing to provide key information it was required to give customers under the law. More>>