New Zealand exporters remain optimistic
New Zealand exporters remain confident about the strength of their overseas markets, according to a survey, with most unaffected by fallout from the global credit crunch.
A survey of 244 export businesses by DHL in May found that the fluctuating New Zealand dollar against the US dollar was a benefit, with over half of respondents to the bimonthly survey reporting cost savings.
Of the companies to make savings, about a quarter planned to use them to cover rising operating costs such as fuel.
The New Zealand dollar was volatile last month, after surprisingly poor retail and employment data cast further doubt about the strength of the economy and increased the expectations of interest rate cuts.
The kiwi ended May close to where it began, around US78c, but swung about US4c during the month.
Of companies surveyed who export to the US, 58 percent reported no impact to their current export orders, 22 percent experienced a fall and 5 percent had an increase.
Over the next six months, 77 percent of exporters anticipated no change or an increase in orders to the US.
“Given the impact the US sub-prime crisis has caused to markets worldwide and the New Zealand public’s concerns about potential local effects, it is positive that most exporters are reporting they are unaffected by the crisis and even optimistic about orders in the near future,” said DHL Express New Zealand General Manager Derek Anderson.
Eighty percent of exporters expected orders to markets other than the US to remain stable for the next six months.
Key New Zealand trading partners remained solid economically, with Australia and Asian economies growing strongly, and Europe and Japan showing surprising growth, said Jason Wong, Director of Economics and Strategy at First NZ Capital.
New Zealand exporters remain confident about the strength of their overseas markets, according to a survey, with most unaffected by fallout from the global credit crunch.
A survey of 244 export businesses by DHL in May found that the fluctuating New Zealand dollar against the US dollar was a benefit, with over half of respondents to the bimonthly survey reporting cost savings.
Of the companies to make savings, about a quarter planned to use them to cover rising operating costs such as fuel.
The New Zealand dollar was volatile last month, after surprisingly poor retail and employment data cast further doubt about the strength of the economy and increased the expectations of interest rate cuts.
The kiwi ended May close to where it began, around US78c, but swung about US4c during the month.
Of companies surveyed who export to the US, 58 percent reported no impact to their current export orders, 22 percent experienced a fall and 5 percent had an increase.
Over the next six months, 77 percent of exporters anticipated no change or an increase in orders to the US.
“Given the impact the US sub-prime crisis has caused to markets worldwide and the New Zealand public’s concerns about potential local effects, it is positive that most exporters are reporting they are unaffected by the crisis and even optimistic about orders in the near future,” said DHL Express New Zealand general manager Derek Anderson.
Eighty percent of exporters expected orders to markets other than the US to remain stable for the next six months.
Key New Zealand trading partners remained solid economically, with Australia and Asian economies growing strongly, and Europe and Japan showing surprising growth, said Jason Wong, director of economics and strategy at First NZ Capital.
