Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search


Further slide in export results

Further slide in export results

The latest provisional export figures for October show a continuing decline whatever way you look at them, says National’s Trade spokesperson, Lockwood Smith.

“Exports for October were down 8.7 per cent on the previous year, they were down 8.5 per cent for the October quarter, and down 4.4 per cent for the year ending October.

“This is only the second time in the last 11 years we have seen a decline in the value of our exports year on year. What makes it more damaging for the Government is that in its first two years, exports grew by 20.7 per cent and 17.5 per cent respectively.

“That tremendous export growth from record commodity prices and a collapsed New Zealand dollar gave Labour a huge economic boost. But its collapse from two years of 20 per cent growth to a 4 per cent reduction will impact on the economy sooner or later.

“Prospects for exports don’t look great with the exchange rate having climbed 12.4 per cent (TWI) in the last 12 months. What’s more, some commodity prices continue to slide with bull beef now down almost 30 per cent on a year ago. Dairy products, such as skim milk powder, also remain 20 to 30 per cent below what they were a year ago.

“If it wasn’t for the massive levels of immigration boosting growth this year, the Government’s unwise economic moves would be hurting more. But while immigration does drive the economy the trade deficit will worsen.

“The result for October at 27.6 per cent is the highest for an October month in the last 13 years”, says Dr Smith.

© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines


Rising Toll: Road Safety Needs To Be A Higher Priority

Official advice released to the Green Party under the Official Information Act shows that the previous National Government dismissed an option to make road safety its most important transport priority after being told the road toll was rising. More>>


Wellington.Scoop: Arrests At Blockade Of "Weapons Expo"

“We encourage people in Wellington to get down to the Westpac Stadium now for a day of awesome peace action. There will be plenty of food, music and activities to keep us sustained through the day.” More>>


Rorschach Restructuring: PSA Taking Inland Revenue To Court Over Psychometrics

The Public Service Association will be seeing Inland Revenue in Employment Court over its intention to psychometrically test employees reapplying for their roles at the department as part of its controversial Business Transformation restructuring plan. More>>


Nuclear Disarmament: Nobel Peace Prize 2017 Awarded To ICAN

Congratulations from iCAN Aotearoa New Zealand to international iCAN, the other iCAN national campaigns and partner organisations, and the countless organisations and individuals who have worked so hard for a nuclear weapons-free world since 1945. More>>


Expenses: Waikato DHB CEO Resigns

An independent inquiry has identified that Dr Murray had spent more than the agreed $25K allocated for relocation costs, and other unauthorized expenses involving potential financial breaches of the chief executive’s obligations. More>>


Wellington.Scoop: Sad About The Trolley Buses?

The Regional Council’s MetLink is today spending money to tell us that it really loves Wellington’s trolley buses, even though they’re all being taken off our roads by the end of this month. More>>


Post-Election: Preliminary Coalition Talks Begin

New Zealand First will hold post-election preliminary discussions in Wellington with the National Party tomorrow morning and the Labour Party tomorrow afternoon. More>>




Featured InfoPages

Opening the Election