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


Trade data continues recent trade downturn

Merchandise terms of trade data continues recent trade downturn

National’s Trade Spokesperson Lockwood Smith says the merchandise terms of trade data for the September quarter confirm the recent negative trade trend.

“In early November the export trade figures for the September quarter
showed a decline of 8% compared with last year. In late November the
figures for October continued the trend, being 8.5% down on the October quarter last year.

“The terms of trade figures released today for the September quarter confirm a serious picture. The September quarter was the fifth successive quarter where export prices have declined. Compared with the September quarter last year, export prices are down 12%.

“Prices for agricultural exports are down almost 19% compared with the September quarter last year, with diary prices down over 36%. Diary prices in the September quarter were in fact at their lowest level for 11 years.

“High levels of immigration continue to drive the volume of consumption goods being imported. A 4.1% increase in the volume of consumer goods imported in the September quarter followed increases of 5.4% in the June quarter and 5.3% in the March quarter. While that demand has helped maintain the Government’s economic growth figures, the consequent blow-out in the trade balance can’t be sustained forever.

“A number of the policies implemented by the Labour led Government have been negative towards the competitive position of our exporters. It leaves them in a vulnerable position, as they now have to cope with declining export prices,” Dr Smith said.

© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines


Breed Laws Don’t Work: Vets On New National Dog Control Plan

It is pleasing therefore to see Louise Upston Associate Minister for Local Government calling for a comprehensive solution... However, relying on breed specific laws to manage dog aggression will not work. More>>


Corrections Corrected: Supreme Court Rules On Release Dates

Corrections has always followed the lawful rulings of the Court in its calculation of sentence release dates. On four previous occasions, the Court of Appeal had upheld Corrections’ practices in calculating pre-sentence detention. More>>


Not Waiting On Select Committee: Green Party Releases Medically-Assisted Dying Policy

“Adults with a terminal illness should have the right to choose a medically assisted death,” Green Party health spokesperson Kevin Hague said. “The Green Party does not support extending assisted dying to people who aren't terminally ill because we can’t be confident that this won't further marginalise the lives of people with disabilities." More>>


General Election Review: Changes To Electoral Act Introduced

More effective systems in polling places and earlier counting of advanced votes are on their way through proposed changes to our electoral laws, Justice Minister Amy Adams says. More>>

Gordon Campbell: On Our Posturing At The UN

In New York, Key basically took an old May 2 Washington Post article written by Barack Obama, recycled it back to the Americans, and still scored headlines here at home… We’ve had a double serving of this kind of comfort food. More>>


Treaty Settlements: Bills Delayed As NZ First Pulls Support

Ngāruahine, Te Atiawa and Taranaki are reeling today as they learnt that the third and final readings of each Iwi’s Historical Treaty Settlement Bills scheduled for this Friday, have been put in jeopardy by the actions of NZ First. More>>


Gordon Campbell: On The Damage De-Regulation Is Doing To Fisheries And Education, Plus Kate Tempest

Our faith in the benign workings of the market – and of the light-handed regulation that goes with it – has had a body count. Back in 1992, the free market friendly Health Safety and Employment Act gutted the labour inspectorate and turned forestry, mining and other workplace sites into death traps, long before the Pike River disaster. More>>

Get More From Scoop



Search Scoop  
Powered by Vodafone
NZ independent news