SHARP EXPORT RISE

Press, Volume CVIII, Issue 31754, 10 August 1968, Page 1

SHARP EXPORT RISE

(N.Z. Press Association I

WELLINGTON, Aug. 9.

New Zealand-manu-factured exports reached s64m in the 1967-68 June trading year, Mr R. G. Spiers, president of the Manufacturers’ Federation, announced today.

This was 59 per cent higher than the s4om worth of exports the previous year, Mr Spiers said. “It represented 8.2 per cent

of New Zealand’s exports in the year, which means manufacturers provided the country's total export earnings for a whole month in the year.” Mr Spiers said that in the last three months the growth of manufactured exports greatly exceeded all previous expectations.

Monthly totals reached a new peak of s6m in April, rose to s6.Bm in May, and to s9.lm in June. Well Distributed

Mr Spiers said that a gratifying feature of the surge was its wide distribution among many products.

“A number of favourable circumstances have combined at the right moment to produce this dramatic result. “The manufacturers’ export drive has been gathering momentum for the last two or three years and when the break-through started last year, 1968 was designated as National Export Year to give further impetus at this critical time.” Restraints within New Zealand had encouraged more manufacturers to look further afield for markets, and devaluation had acted as another spur. The latest results showed that manufacturers had responded eagerly to the challenge of devaluation and had taken quick advantage of the

new sales opportunities created. Forward Planning “The retention of export incentives and the announcement that they will be continued for three years has given added encouragement and stability for forward planning,” Mr Spiers said. The report showed that the results of the last few months would be sustained and manufactured exports would rise further in the coming year. “This will establish the products of manufacturing industries firmly as the fourth major sector of our export economy, along with meat, wool, and dairy products.” Summary of exports by New Zealand manufacturers. ($OOO, June years.)

1966/67 1967/68 Pres, fruit and veges 1,804.8 2,551 2 Pres, fish 149.8 184.8 Other foods .. 1.242.4 2.264.7 Beverages 397.1 376.3 Tobacco 312.8 339.3 Textiles 1,204.4 4,232.6 Footwear 86.7 >129.0 Other apparel -55.6 459.9 Wood prods 2,099.7 5,159.8 Pulp, paper . 16.974.3 24,409.2 Furniture 104.9 205.5 Leather, travel goods 431.7 692.5 Rubber prods 427.0 1,035.4 Chem. ferts . 25.7 31.2 Chemicals 2,311.5 3.375.4 Petroleum 4,573.1 4.558.1 Non - metallic minerals .. 407.5 834.4 Basic metals . 2,002.1 3.201.6 Metal prods 757.4 928.2 Machinery 2.045.3 3.929.0 Elect, mach. 1,295.1 2,268.3 Transp. equip. 296.2 676.3 Miscellaneous 1.329.9 2.317.9 Total 40.435.0 64.160.6