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


Manufactured exports plunge, jobs go as Nats fail to act

27 February 2013

Manufactured exports plunge, jobs go as Nats fail to act

New data shows that the value of manufactured exports fell by nearly 7 percent last year as the high dollar hurt Kiwi businesses and contributed to 17,000 job losses in the manufacturing sector, Green Party Co-Leader Dr Russel Norman said today.

“National’s failure to act on the dollar is killing our manufacturing sector,” said Dr Norman.

“These numbers show that manufacturers are being squeezed out of export markets by our over-valued currency.

“That means reduced export revenues for New Zealand to pay its way in the world, and thousands fewer jobs for Kiwis to support their families,” said Dr Norman.

The latest Overseas Merchandise Trade figures, released by Statistics New Zealand today, show that manufactured exports for the year to January 2013 were worth $11.3 billion, a 7 percent fall from the $12.1 billion a year before. Adjusted for inflation, manufactured exports are at the lowest level since the series began in 2002.

There are 17,000 fewer people working in manufacturing than a year ago, according to Statistics New Zealand’s Household Labourforce Survey.

The value of primary exports was also hit by the exchange rate, falling 5 percent over the year. Falling primary and manufactured exports are the principal reason why the trade deficit blew out to $1.2 billion in the last year.

“We cannot go on like this, sacrificing businesses and jobs on the altar of a failed ideology that says governments mustn’t intervene in the currency markets,” said Dr Norman.

“The fact is, most of our major trading partners are intervening in the currency markets to benefit their own economies and it’s New Zealand that is paying the price through an over-inflated dollar.

“It simply defies belief that John Key is arguing the high dollar is a good thing because it makes flat-screen TVs and overseas holidays cheaper. What good are cheaper luxuries if you’ve lost your job and are struggling to buy the groceries?

“National has led us to a situation where we are more indebted; where the high-wage, high-skill manufacturing jobs are disappearing fast; where Kiwis are fleeing across the Tasman at a rate of 1,000 a week; and where we are dependent on exports of volatile, extractive commodities like coal, rather than smart, green manufacturing companies.

“That’s not a brighter future for New Zealand; Kiwis deserve better,” said Dr Norman.

© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines



Australia Deportations: English Relaxed On Immigration Centre Conditions

Labour's Annette King: “There have been numerous reports from inside these detention centres on just how bad conditions are... If they were being held in any other foreign jail, I imagine Mr English would be somewhat concerned. More>>


Schools: Achievement-Based Funding Would Be A Disaster

The Education Minister’s speech to the PPTA Conference raising the spectre of achievement data driving a new funding system would be disastrous, says NZEI Te Riu Roa. More>>

  • Video Out-Link - PPTA Annual Conference 2015 on Livestream (Q+A dicussion suggests funding would be directed to less successful schools.)

  • ALSO:

    ECE Report:

    Key In NY: Prime Minister Addresses United Nations

    Prime Minister John Key has addressed the United Nations General Assembly in New York, focusing on a call for action in Syria and on other conflicts, reform of the veto process and on the UN’s Sustainable Development Goals. More>>.


    Gordon Campbell: On The Lack Of Accountability Over Philip Smith

    In New Zealand, accountability is an exotic creature rarely glimpsed at ministerial level, or among senior management. The flight to Rio by the paedophile /murderer Philip John Smith/Traynor is no exception. More>>


    More On Corrections

    Gordon Campbell: On Putin’s Diplomatic Coup Over Syria

    There’s a simple historical precedent for what is occurring in Syria. During WWII, the Allies joined forces with a known butcher and tyrant – Joseph Stalin of the Soviet Union – in order to defeat a greater evil, Nazi Germany… More>>


    Key 'Didn't Know': Brownlee Seeks Pandas In China

    While Defence Minister Gerry Brownlee is in China pushing a taxpayer funded deal to bring two pandas to New Zealand, the country’s military look set to be hit with a pay freeze, Opposition Leader Andrew Little says. More>>


    Scoop Business: GCSB Willing To Extend Cyber-Attack Programme To Local ISPs

    The Government Communications Security Bureau’s ‘Cortex’ cyber-security programme has been successful in helping identify and mitigate a series of cyber attacks since its introduction and an extension to cover local internet service providers is still on the cards... More>>


    Get More From Scoop



    Search Scoop  
    Powered by Vodafone
    NZ independent news