Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Export Surplus: Farming Has Done It Again

Export Surplus: Farming Has Done It Again - Farm Economist

Those pushing for New Zealand to become a “knowledge economy” should realise that there is only one industry that can maintain the country’s standard of living – farming. That’s the view of Waikato farm economist and finance specialist Donald Fraser.

Fraser believes that despite all the high tech hype surrounding so-called knowledge-based industries, only agriculture has the economic grunt to sustain the country for the foreseeable future.

“For the past 15 years successive governments have sold off assets to pay our way in the world, and farming suffered as a result. Now that we have run out of assets, farming has once again emerged as the only industry that can pull the economy out of the mire and keep it going”, he says.

Fraser points to figures just released showing that for the first time in seven years New Zealand has a surplus of export receipts over the cost of imports, a result driven by agricultural trade and a modest level of technology.

“In all likelihood the current firm prices for farm exports will continue, and this will cushion the economy from the downturn overseas”, he says.

“Farmers deserve recognition from the government for their crucial role in creating the wealth of the country. Wellington should do all in its power to make sure that farm business can continue without being hindered by legislation locally or trade restrictions in other countries”.

“Farming is our most successful industry. If farmers don’t continue to prosper, the whole country will suffer”, says Fraser.

Ends


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Reserve Bank: Ongoing Monetary Tightening
The Monetary Policy Committee today increased the Official Cash Rate (OCR) to 3 percent from 2.5 percent. The Committee agreed it remains appropriate to continue to tighten monetary conditions... More>>



Statistics: Weekly Earnings Rise As More In Full-time Employment

Median weekly earnings from wages and salaries rose by 8.8 percent to $1,189 in the year to the June 2022 quarter, Stats NZ said today... More>>



Bell Gully: Uncertainty Ahead With New Unconscionable Conduct Legislation

new prohibition against ‘unconscionable conduct’ in trade is one of a number of changes to the Fair Trading Act 1986 that come into force from 16 August 2022. The new prohibition may have wide-ranging implications for many businesses... More>>


Electricity Authority: Imposes Interim Restrictions On Very Large Electricity Contracts

Consumers of electricity will be protected from potentially paying more than they should due to the impact of very large electricity contracts on wholesale prices, under urgent changes announced today by the Electricity Authority... More>>


Westpac: Economic Overview, August 2022 – Pushing Through

The New Zealand economy faces some lean growth in the year ahead as households’ budgets are squeezed, according to Westpac’s latest Economic Overview... More>>


Kiwi Group Holdings: Fisher Funds Acquires Kiwi Wealth Business

Kiwi Group Holdings Limited (KGHL) today announced the sale of Kiwi Wealth to Fisher Funds for NZ$310 million... More>>