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

 


Groser Welcomes new OECD-WTO Report On International Trade


Hon Tim Groser
Minister of Trade

17 January 2013
Media Statement

Groser Welcomes new OECD-WTO Report On International Trade

Trade Minister Tim Groser has welcomed the OECD-WTO’s estimates of “Trade in Value-Added” at the launch of the new database in Paris.

“This new data estimates trade in value-added terms, which helps convey the interdependencies of global value chains and reveal who ultimately benefits from trade,” Mr Groser says.

“Engaging internationally is crucial to all countries’ future prosperity. New Zealand is especially well connected to global value chains in the agriculture and food sectors.”

According to OECD estimates, 81 percent of New Zealand exports’ value is created domestically. This is higher than the OECD average of 72 percent, reflecting both our geographic distance and the importance of agricultural products to our exports.

Mr Groser says the database provides an important reminder that imports are vital to the production of exports. About a third of New Zealand’s imports of intermediate inputs are used to produce goods and services that are then exported.

“Now that we can quantify the contribution of imported inputs to value-added exports, there is no escaping the fact that any barriers to imports become barriers to our exports and to our firms engaging internationally.

“The data also shows that services are fundamentally more important to trade than previously acknowledged,” says Mr Groser. Services represent 46 percent of the value of New Zealand’s exports when you take into account that services contribute a significant share to the value added in manufacturing exports. This is double what traditional statistics indicate is the share of services in our exports.

“This reinforces just how critical an efficient services sector is to all export industries.

“Countries must ensure their businesses can access world class inputs at competitive prices if they are to be productive and reap the benefits from global trade and value chains.”

Building a more competitive and productive economy for New Zealand is one of the Government’s key priorities. As part of the Business Growth Agenda the Government has committed to the goal of lifting New Zealand’s exports to 40 percent of GDP by 2025, from the current 30 percent.

Further information:

Traditional trade statistics measure the total (gross) value of goods and services traded, every time they cross borders, rather than the value that has been added within that country’s borders. The OECD-WTO Trade in Value-Added database is the first time that the value-added contribution to trade has been estimated on a consistent basis across countries. This is useful because increasingly different parts of the process of producing a good – from design, production, assembly, through to its delivery to the end consumer - take place in different countries, a phenomenon referred to as “Global Value Chains”.

In March 2012 the OECD and World Trade Organisation (WTO) launched a joint initiative to measure trade in terms of the value that is added by a country in the production of any good or service that is exported. Using a model, the OECD (lead) and WTO estimate how exports of a country feed into intermediate inputs or final consumption in the importing country, in order to estimate trade flows in value-added terms. The database currently covers 40 countries and 18 industries.

More information and the Trade in Value-Added database is available at www.oecd.org/trade/valueadded

The OECD/WTO Trade in Value-Added country note on New Zealand is attached.

Click here to read: NZ__Main_findings_from_the_TiVA_database.pdf

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Patience: Drive Safe

Be patient before passing is the AA's message for drivers this Labour weekend.

"People taking crazy risks to get past other vehicles is one of the most dangerous things on the road,” says AA spokesperson Dylan Thomsen.

“The weather is looking good for the long weekend so the roads will be busy. Unfortunately, that also increases the chances of people getting frustrated and trying a risky passing manoeuvre. When they get past, there will probably be more traffic up ahead anyway so it won’t get people there faster.” More>>

 
 

Parliament Today:

Employment Relations Bill: Govt Strains To Get Tea Break Law Through

The Government has been left with egg on its face - failing to get its much-vaunted, but hugely unpopular, meal break law passed in the first week of its new term, Labour spokesperson on Labour Issues Andrew Little says. More>>

ALSO:

Guns: Police Association Call To Arm Police Full Time

"The new minister gave his view, that Police do not need to be armed, while standing on the forecourt of parliament. The dark irony was that the interview followed immediately after breaking news of a gunman running amok in the Canadian parliament in Ottawa..." More>>

ALSO:

Gordon Campbell: On The Tokenism Of New Zealand's Role Against Islamic State

Our contribution against IS will be to send SAS forces to train the Iraqis? That’s like offering trainers to General Custer just as the 7th cavalry reached the Little Big Horn. More>>

ALSO:

Scoop Business: Shell And Todd Caught Drilling Without Approval

Multi-national oil company Shell’s New Zealand arm and local energy giant Todd Energy have breached the new law governing New Zealand’s Exclusive Economic Zone, the Environmental Protection Authority says in an Oct. 10 document released by the Green Party. More>>

ALSO:

Gordon Campbell: On Pharmac, Gough Whitlam And Sleater-Kinney

We’re not at the outset of these negotiations. The outset was six years ago, and negotiators were hoping to have some sort of ‘framework’ deal finished in time for the APEC meeting in a few weeks’ time. These ‘extreme’ positions are what we’ve reached near the intended end of the negotiations… More>>

ALSO:

PM Of Many Hats: Questions, No Answers On Whale Oil

Dr RUSSEL NORMAN (Co-Leader – Green) to the Prime Minister: How many times since November 2008 has he spoken with blogger Cameron Slater on the phone and how many times, if any, has he texted him?
Rt Hon JOHN KEY (Prime Minister): None in my capacity as Prime Minister. More>>

ALSO:

Aussie Investigation Dropped: Call On Minister McCully To Pursue The Case Of Balibo Five

West Papua Action is deeply concerned at the lack of any clear outcome from the Australian Federal Police inquiry into the 1975 deaths of the ‘Balibo Five’ including NZ journalist Gary Cunningham. More>>

ALSO:

'Feed The Kids' Bill: Metiria Turei To Lead Fight On Feeding Hungry Children

Green Party Co-leader Metiria Turei is urging all political parties to support the Feed the Kids Bill which she inherited today from Mana leader Hone Harawira. More>>

ALSO:

Parliament Today: State Opening Of Parliament

The House sat at 10.30am on Tuesday before MPs were summoned to hear the Speech from the Throne in the Legislative Council Chamber. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news