New Zealand Labour Party

Target fail: Exports to GDP lowest since 1997

National has fallen even further behind its target of exports being 40 per cent of GDP, with the rate now the lowest since Jim Bolger was Prime Minister, Labour’s Economic Development spokesperson David Clark says.

“National is not only failing to meet its target, it’s going backwards. Statistics today show exports are just 28 per cent of GDP on an actual basis, down from 32 per cent when National came into office.

“This is the lowest since 1997 – the year of the Asian Financial Crisis and when Jim Bolger was rolled as Prime Minister.

“Joyce’s latest Export Markets glossy released on Tuesday shows the Government has abandoned plans to grow exports to India and to conclude an FTA with the Gulf States. 

“Instead of proper plans to grow our exports, National is fighting fires on sheep scandals, downsized convention centres and wasted spending on sundecks, $140,000 TV screens and hair straighteners.

“Joyce’s glossy propaganda shows he is simply content with managing decline in our exporting industries,” says David Clark.