Exports fall as dollar and job losses climb

Exports have fallen eight per cent compared to last year while the currency soars ever higher, heaping more pressure on exporting businesses, says Labour’s Finance spokesperson David Parker.

“The fall in exports shows the pressure exporters are under from the high dollar. The evidence is in job cuts announcements week after week. Workers, businesses and economists are all pointing the finger at the high dollar.

“This is affecting real people’s lives. In just six hours on Monday 600 jobs were lost in three companies. Those without work or on reduced hours are bearing the stress and burden of the Government’s inaction.

“There is something clearly wrong with our economy if our exports are falling and jobs are going but our currency is rising. The dollar is out of step with the fundamentals of our economy and we need to take action to address it.

“National are unable to lead on the economy. Not only do they refuse to acknowledge any changes that might get the dollar down, they vetoed an in-depth select committee inquiry into the problems of the manufacturing industry.

“National’s economy isn’t working for ordinary Kiwis but the Government won’t admit it. They are leaving our exporters, workers and families to fend for themselves,” says David Parker.