28 October, 2004

$4 billion trade deficit a disaster

The Green Party has branded today's all-time record $4 billion September-year trade deficit a disgrace.

Statistics New Zealand reported today that the deficit for the year to September 2004 was $4087 million, the highest recorded. The September month deficit alone was $1020 million, or 47 per cent of exports.

"It's simply disgraceful that recent governments have transformed New Zealand from a self-reliant export-led economy into a country that imports more and more basic products that we used to make for ourselves," said Mr Donald.

"Instead of undermining New Zealand businesses by negotiating preferential trade deals with sweatshop economies the Government should be focusing its energy on boosting domestic production in order to reduce our dependence on imports."

ENDS

© Scoop Media