Manufactured exports in sharp decline
PA Wellington A recent study by the New Zealand Institute of Economic Research (NZIER) which showed that manufacturing was being put at risk has prompted the Manufacturers Association to commission a survey of industry.
“Manufactured exports declined 17 per cent in the year ended June 1986 — the first significant decline since 1978,” said the Wellington president, Mr Rowland Crone. Mr Crone said there were indications that
some large exporting companies were seriously considering moving their manufacturing operations overseas to more favourable investment climates.
Manufacturing contributed more than 30 per cent of the country’s export receipts, and the industry created jobs for at least 26 per cent of the workforce. Mr Crone said manufacturers were not asking for a return to subsidies and protection. But the Government’s inability to cut the massive deficit had caused high interest and exchange rates.
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Press, 12 January 1987, Page 27
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144Manufactured exports in sharp decline Press, 12 January 1987, Page 27
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