Office of Hon Dr Michael Cullen
Hon Dr Michael Cullen
Minister of Finance

Media Statement
8 June 2000

Latest trade data encouraging

"The April overseas merchandise trade data, showing exports are growing and imports slowing, is encouraging," Finance Minister Michael Cullen said today.

The figures show provisional exports for the year ended April were up 9.6 percent on April, 1999. Meanwhile the import trend, although continuing to grow, has been slowing over recent months.

"It is particularly pleasing that the destinations contributing most to our export growth are the United States, Australia, Japan, and Korea.

"This shows the export growth is not totally dependent on a low dollar while also indicating that exporters will be well-poised to take advantage of our competitive exchange rate in these markets.

"New Zealand cannot do well unless our export sector is doing well. Our economy is simply too small to sustain a recovery fuelled by domestic consumption," Dr Cullen said.

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