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

 


April trade figures show commoditisation of NZ economy

26 May 2014

April trade figures show commoditisation of NZ economy

The commoditisation of the New Zealand economy and our reliance on China is gathering pace, according to the latest trade figures, the Green Party said today.

While April’s Overseas Merchandise Trade data released today show a surplus, strong growth in exports of milk powder and logs and declining manufactured exports is evidence of the simplification of New Zealand's export economy under National's high dollar strategy, Green Party Co-leader Dr Russel Norman said.

Annual dairy exports were up by a third and logs by a quarter, while manufactured exports fell 2.2 percent in the year to April. In the nearly six years National has been office, manufactured exports have dropped 3.2 percent in dollar terms and nearly 20 percent in real terms. Elaborately transformed manufactured goods now only comprise 13.7 percent of exports against 18.4 percent when National took office.

“New Zealand should be moving towards a jobs-rich, smarter economy. Instead, the opposite is happening, with ever greater reliance on raw products like logs and milk powder,” said Dr Norman.

“National’s big hope of wealth through oil drilling is failing, according to today’s figures. Crude oil exports fell 19.9% for the year to April. That’s a sad indictment of a failed policy.

“While the 51 percent growth in exports to China is welcome, reliance on one market and a few commodities is dangerous and makes our economy vulnerable to commodity price swings and adverse events like droughts and storms.

"National’s budget showed it has no interest transitioning towards jobs-rich, high value manufacturing. Bill English promised to rebalance the economy towards the tradable productive sector, but these numbers show he is failing.

“A Green government will champion innovation and establish institutions that steer investments towards smart, green technologies - the fastest growing sectors in the world.

“We will back this through initiatives such as the establishment of the Green Investment Bank,” Dr Norman said.

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Parliament Today:

Werewolf: The Defence Pretence

Last year, the world began spending more money on weapons again, for the first time since 2011... New Zealand belongs to a region – Asia and Oceania – where military spending rose sharply in 2015, by 5.4 per cent. More>>

ALSO:

Gordon Campbell: On Not Crying Foul, Argentina

So a couple of guys found to be criminally liable of environmental pollution in Argentina lodge an application with the Overseas Investment Office… in order to buy some prime New Zealand rural land. Seems that their factory back home had carelessly and/or intentionally discharged toxic waste into the Lujan river. Bummer... More>>

ALSO:

Urban & Rural: $303m To Merge And Modernise New Zealand’s Fire Services

Internal Affairs Minister Peter Dunne today announced funding of $303 million over five years to combine urban and rural fire services into one organisation from mid-2017. More>>

ALSO:

High Trust Regime: What Did The PM Tell His Lawyer About Foreign Trusts?

The Government stopped the IRD from reviewing New Zealand foreign trusts shortly after the Prime Minister’s lawyer wrote to the Revenue Minister claiming John Key had promised him the regime would not be changed. More>>

ALSO:

Road Crime: Wicked Campers Vans Classified As Objectionable

The definition of publication includes any "thing that has printed or impressed upon it, or otherwise shown upon it, 1 or more (or a combination of 1 or more) images, representations, signs, statements, or words", The Classification Office has previously classified such 'things' as billboards, t-shirts, and even a drink can. This is the first time the Classification Office has classified a vehicle. More>>

ALSO:

'When New' Repairs: Landmark EQC Settlement

The Earthquake Commission has cut a deal with 98 Canterbury homeowners that affirms the government entity's responsibility to repair earthquake-damaged property to a 'when new' state, as well as covering repairs for undamaged parts of a property and clarifying its position on cash settlement calculations. More>>

ALSO:

Gordon Campbell: On Kiwirail’s Latest Stint In The Dogbox

The denigration of Kiwirail continues. The latest review (based on a 2014 assessment) of the options facing the company have enabled Kiwirail to be hung out to dry once again as a liability and burden on the taxpayer. More>>

ALSO:

Royal Society Report: Good Opportunities To Act Now On Climate Change

There are many actions New Zealand can and should take now to reduce the threat of climate change and transition to a low-carbon economy, a report released today by the Royal Society of New Zealand finds... More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news