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

 

Wellington exporters expect business to rise

Wellington exporters expect business to rise, ExportNZ survey shows

The Wellington economy will be encouraged by news that two thirds of local exporters expect export orders to rise over the next 12 months, says ExportNZ Wellington.

John Milford, the Chief Executive of the Wellington Chamber of Commerce, which oversees ExportNZ Wellington, commented on the result of ExportNZ’s annual survey of members released today.

The survey shows that 66.7 per cent of Wellington exporting companies expect export orders across all markets to rise over the next 12 months, with 11.1 per cent expecting them to rise substantially and 55.6 per cent to rise slowly. Some 16.7 per cent expect orders to reduce slightly.

This is slightly lower than sentiment across the Central New Zealand region, where 76 per cent of companies expect exports to rise, 16.7 per cent substantially and 59.3 per cent slowly. Nationally, 80 per cent of export companies expect orders to increase, 31.6 per cent substantially and 48.5 per cent slowly.

When asked what were the top three barriers preventing companies from exporting or exporting more, exchange rate levels were cited most regularly (by 56 per cent of companies), followed by price competitiveness and funding for developing export markets (50 per cent), and cost of shipping/transport (39 per cent).

Mr Milford the numbers were good but could be better.

“Exporters typically keep a careful watch on market trends and try to plan some way ahead, so if nearly two thirds see continuing growth in their markets, then that is positive.

“Don’t forget that since the survey, the US dollar has continued to drop, so I imagine that if the survey were taken today we may well be seeing some different numbers.

“Obviously, obstacles such as trade barriers are still a challenge in some markets, and ExportNZ will continue to work with companies to help overcome this.

“We also await the outcome of the TPP negotiations which, if successful, could take things to another level completely.”

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Westpac: Sets Out Plan To Go Cheque-Free

Westpac NZ has announced details of its plan to phase out cheques, after signalling in May that it would be supporting a move to other forms of payment. Cheques will cease to be available as a means of payment after 25 June 2021. Westpac NZ General ... More>>

ALSO:

NZTA: Major New Zealand Upgrade Programme Projects Go To Tender

Two major New Zealand Upgrade Programme projects are beginning tenders for construction. The New Zealand Upgrade Programme is a $6.8 billion investment to get our cities moving, to save lives and boost productivity in growth areas. The first Auckland ... More>>

Reserve Bank: RBNZ Seeks To Preserve Benefits Of Cash

The Reserve Bank – Te Pūtea Matua is taking on a new role of steward of the cash system “to preserve the benefits of cash for all who need them”, Assistant Governor Christian Hawkesby told the Royal Numismatics Society of New Zealand annual conference ... More>>

ALSO:

Economy: Double-Dip Recession Next Year, But Housing Rolls On

New Zealand's economy is expected to slip back into recession early next year as delayed job losses, falling consumer spending, and the absence of international tourists bites into growth. More>>

ALSO:

Microsoft New Zealand: Microsoft Expands “Highway To A Hundred Unicorns” Initiative To Support Startups In Asia Pacific

New Zealand, 14 October 2020 – Today Microsoft for Startups launches the Highway to a Hundred Unicorns initiative in Asia Pacific to strengthen the region’s startup ecosystem. This follows the initiative’s success in India, where 56 startups were ... More>>

Fonterra: Farmers Taking Another Step Towards New Zealand’s Low Emissions Food Production

They’re hot off the press and intended to help take the heat out of climate change. Fonterra farmers are already among the world’s most sustainable producers of milk and now have an additional tool in their sustainability toolbox. Over the last few ... More>>

ALSO:



Courts: Businessman Eric Watson Sentenced To A Four-Month Jail Term

New Zealand businessman Eric Watson has been sentenced to a four-month jail term in the UK for contempt of court, TVNZ reports. More>>

OECD: Area Employment Rate Falls By 4.0 Percentage Points, To 64.6% In Second Quarter Of 2020

The OECD area employment rate – the share of the working-age population with jobs – fell by 4.0 percentage points, to 64.6%, in the second quarter of 2020, its lowest level since the fourth quarter of 2010. Across the OECD area, 560 million persons ... More>>

Spark: Turns On 5G In Auckland And Offers A Glimpse Into The Future Of Smart Cities

Spark turned on 5G in downtown Auckland today and has partnered with Auckland Transport (AT) to showcase some of the latest in IoT (Internet of Things) technology and demonstrate what the future could look like for Auckland’s CBD with the power of 5G. 5G is ... More>>

Stats NZ: Monthly Migration Remains Low

Since the border closed in late-March 2020, net migration has averaged about 300 a month, Stats NZ said today. In the five months from April to August 2020, overall net migration was provisionally estimated at 1,700. This was made up of a net gain ... More>>

University of Canterbury: Proglacial Lakes Are Accelerating Glacier Ice Loss

Lake Tasman, New Zealand | 2016 | Photo: Dr Jenna Sutherland Meltwater lakes that form at glacier margins cause ice to recede much further and faster compared to glaciers that terminate on land, according to a new study. But the effects of these glacial ... More>>

ALSO:

Dairy: Fonterra Sells China Farms

Fonterra has agreed to sell its China farms for a total of $555 million (RMB 2.5 billion*1), after successfully developing the farms alongside local partners. Inner Mongolia Natural Dairy Co., Ltd, a subsidiary of China Youran Dairy Group Limited ... More>>

ALSO: