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:

Arming Police: Frontline Police To Routinely Carry Tasers

"In making the decision, the Police executive has considered almost five years worth of 'use of force' data… It consistently shows that the Taser is one of the least injury-causing tactical options available when compared with other options, with a subject injury rate of just over one per cent for all deployments." More>>

ALSO:

Gordon Campbell: On D-Day For Dairy At The TPP

While New Zealand may feel flattered at being called “the Saudi Arabia of milk” it would be more accurate to regard us as the suicide bombers of free trade. More>>

ALSO:

Leaked Letter: Severe Restrictions on State Owned Enterprises

Even an SOE that exists to fulfil a public function neglected by the market or which is a natural monopoly would nevertheless be forced to act "on the basis of commercial considerations" and would be prohibited from discriminating in favour of local businesses in purchases and sales. Foreign companies would be given standing to sue SOEs in domestic courts for perceived departures from the strictures of the TPP... More>>

ALSO:

"Gutted" Safety Bill: Time To Listen To Workplace Victims’ Families

Labour has listened to the families of whose loved ones have been killed at work and calls on other political parties to back its proposals to make workplaces safer and prevent unnecessary deaths on the job. More>>

ALSO:

Regulators: Govt To ‘Crowd-Source’ Regulatory Advice

A wide-ranging set of reforms is to be implemented to shake up the way New Zealand government agencies develop, write and implement regulations. More>>

ALSO:

Board Appointments: Some Minister Appoint Less The 3 In 10 Women

“It’s 2015 not 1915: Ministers who appoint less than 3 in 10 women to their boards must do better, they have no excuse but to do better,” said Dr Blue. More>>

Gordon Campbell: On The 1990s Retro Proposals For Our Health System

As we learned yesterday, the reviews propose that the democratically elected representation on DHBs should be reduced, such that community wishes will be able to be over-ridden by political appointees. In today’s revelations, the reviews also propose a return to the destructive competitive health model of the 1990s. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news