Exports continue to fall as Government fails to diversify

The Government quickly needs a plan to diversify our economy after new figures show that exports are continuing to fall due to the collapse in dairy exports, Labour's Finance Spokesperson Grant Robertson says.

“Dairy exports fell 28 per cent compared to May last year, dragging total export values down by 5 per cent. This is a further blow to our economy which relies on increasing the value of exports to create jobs and boost wages.

“National has promised for seven years to lift exports from 30 per cent to 40 per cent of GDP. The latest drop in exports continues the downward trend, which see exports at 28 per cent of GDP, a drop of 32 per cent since National took office. 

"National’s economic policies have failed in the crucial area of exports. This is driving a low-value economy which leads directly to low wages.

“We cannot get wealthier as a country by selling houses to each other and milk powder to one market.

“National campaigned on economic management and have since cherry-picked their statistics to pretend the outlook is bright. It’s time John Key and Bill English were straight with Kiwis: the economy is becoming increasingly vulnerable and the risks to jobs and incomes are rising.

“New Zealand needs a long term plan to deliver sustainable and diverse export growth. After seven years New Zealanders are yet to see one – the Government needs to lift its head out of the sand,” says Grant Robertson.