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

 

PARLIAMENT TODAY:

Foreign Affairs: NZ Begins Presidency Of UN Security Council

Prime Minister John Key has welcomed the start of New Zealand’s month-long Presidency of the United Nations Security Council in New York. More>>

ALSO:


Labour: Cash For Charter Schools, Mould For State Schools

“Recently released financial statements show the Whangarei charter school He Puna Marama received $3.9 million in government funding to the end of last year. Yet their audited accounts show they only spent $1.4 million on education, leaving almost $2.5 million over two years unaccounted for." More>>

ALSO:

Kiwirail Plans Shift From Electric: National Urged Not To Take Backwards Step

The National Government shouldn’t drag New Zealand backwards by replacing its climate friendly electric trains with carbon-polluting diesel trains, the Green Party said today. More>>

ALSO:

Capital Connection:

Harmful Digital Communication Bill Passes: Focus Must Be On Education

InternetNZ acknowledges the passage of the Harmful Digital Communications Bill into law this afternoon, and says that the sooner the education efforts at the heart of the legislation start, the better... More>>

ALSO:

3-Year Transport Plan: No Plans On Six Northland-Election Bridges

The Transport Authority’s decision to fund only four of the 10 bridges promised in National’s shameless Northland by-election bribe is a huge embarrassment for Transport Minister Simon Bridges, Labour’s Transport spokesperson Phil Twyford says. More>>

ALSO:

Gaza Blockade: Māori TV Crew Returning Safely From Israel

A Māori Television crew will be flown back from Israel after their boat was detained by the Israeli Navy while attempting to break the Gaza blockade. More>>

ALSO:

Family Violence: Increasing Reporting But Fewer Resolutions

“We are aware the Police have embarked on a significant programme of change in how they respond to family violence. The data suggests that adequate resourcing including investing in staff training, support and culture change will be required for this to be effective.” More>>

ALSO:

Health: NZ Children Still Suffer Rickets From Lack Of Vitamin D

Vitamin D deficiency continues to cause rickets in young New Zealanders, new University of Otago research has found. The researchers say that their finding suggests that at-risk mothers and children should be better targeted for Vitamin D supplementation. More>>

Also GPs, Housing, Milk: PM Press Conference On The UN Security Council

In a press conference today the Prime Minister discussed the upcoming appointment of New Zealand to chair the UN Security Council. He said they would put pressure Asad in Syria and attempt to “jump start” negotiations between Israel and Palestine. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news