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Related term: Balance of trade

  • Last month we wrote about interest rate risks facing our economy due to a shortage of spare resources where presumably there will be price adjustments to reflect these resource shortages. This month let’s look at one factor which has capacity to mitigate this risk but only slightly — the exchange rate.
    Article - 2007-10-18 09:34
  • Last month we wrote that, come the end of the year, the New Zealand dollar (NZD) was more likely to be close to US70¢ than 60¢. Let’s just say our confidence in that happening has taken a wee dive in response to the release of a lot of worse than expected data.First, we learned that in the year to March our current account deficit was equal to 7 per cent of the size of our economy. The deficit measures the difference between what we export and what we import, plus what we earn on foreign investments versus what foreigners earn here.
    Article - 2007-10-18 09:34
  • It’s clearly election year when during the short period from May to August the finances of NZ Inc can suddenly change from a budget with no funds available, to a $1 billion-plus hand out to various sectors. As a consequence, the credibility of the Finance Minister as a prudent fiscal manager of the economy has taken a severe dent. The pity of all this is that while it’s business paying the taxes, business isn’t getting any additional support by way of tax relief or any other means.
    Article - 2007-10-18 09:34
  • With the trade deficit a record $1.1 billion for the latest quarter, there is urgency for concentrating on developing a strong export strategy. New Zealand’s trade deficit has reached an alarming $5.8bn to August.A few years ago the attitude that once the dollar drops, “she’ll be right” might have held true — expecting exports would rise with a competitive exchange rate, imports would fall as consumers found goods more expensive and the trade deficit would largely self-correct.
    Article - 2007-10-18 09:34
  • While it’s understandable the Reserve Bank’s focus is on curbing inflation and dampening the domestic economy, raising the official cash rate to 7 per cent and threatening further action does little to help business with investment, and nothing to assist exporters. There is the hope the action will result in a fall to the New Zealand dollar (NZD) and at some point that seems inevitable. But until it happens, most exporters struggle on.
    Article - 2007-10-18 09:34
  • “Annual trade deficit reaches record levels,” screamed the first major headline from Statistics New Zealand this year.The trade balance for the year ended November 2005 was a deficit of $6.6 billion, or 21.6 per cent of exports, the department said. It was the largest for a November year since 1975 during the oil crisis when the deficit was almost half the value of exports. The monthly trade balance for November was a deficit of $1,205 million, or 46.6 per cent of exports — also a record.
    Article - 2007-10-18 09:34
  • New Zealand’s largest company, Fonterra, is likely to be the main beneficiary of a free trade agreement (FTA) between New Zealand and China, says Green Party co-leader, Jeanette Fitzsimons.
    Article - 2007-10-18 09:35
  • No event or promotion has been organised to highlight the Pacific region during the Export Year 07 campaign, yet the Pacific is New Zealand’s second largest export market, says Gilbert Ullrich, managing director of Ullrich Aluminium based in Manukau. He is also founding chairman of the New Zealand Pacific Business Council, a member of the private sector reference group appointed by Government to help develop and implement initiatives for the campaign.
    Article - 2007-10-18 09:35
  •   The value of November 2010 export goods was $589 million (19 percent) higher than November 2009, Statistics New Zealand said today. The total value of goods exported in November 2010 was $3.7 billion. “The trend returned to 2008 levels in May and has remained at those levels,” overseas trade manager Neil Kelly said. “The trend in export values has risen since October 2009 and although slowing in recent months, remains similar to the previous high in late 2008.”
    Article - 2011-01-10 11:30
  • Led by a rise in meat products, seasonally adjusted exports rose 3.1 percent to $11.1 billion in the December 2010 quarter, Statistics New Zealand said today. “The value of meat and edible offal exports rose 26 percent for the quarter, with quantities 19 percent higher,” overseas trade manager Neil Kelly said. “Values and quantities were also up significantly for logs and wood products.”
    Article - 2011-02-01 07:30