Hawke’s Bay exporters expect business to rise

Hawke’s Bay exporters expect business to rise, ExportNZ survey shows

The Hawke’s Bay economy will remain buoyant for at least the next 12 months if expectations of exporters are any indication, says ExportNZ Hawke’s Bay.

John Milford, the Chief Executive of Business Central, which oversees ExportNZ Hawke’s Bay, today released the result of ExportNZ’s annual survey of members, which he called very encouraging.

The survey shows that 80.7 per cent of Hawke’s Bay exporting companies expect export orders across all markets to rise over the next 12 months, with 19.2 per cent expecting them to rise substantially and 61.5 per cent to rise slowly. Just 3.8 per cent expect orders to reduce slightly.

This is slightly better than sentiment across the Business Central region, with 76 per cent of companies expecting exports to rise, 16.7 per cent substantially and 59 per cent slowly. Nationally, 80 per cent expect orders to increase, 31.6 per cent substantially and 48.5 per cent slowly.

The survey also shows that Australia remains the biggest destination for Hawke’s Bay exports, with 65 per cent of companies sending goods there, followed by China (62 per cent of companies), Europe and UK (50 per cent).

Mr Milford the numbers were more good news for Hawke’s Bay.

“Exporters typically keep a careful watch on market trends and try to plan some way ahead, so if nearly 81 per cent see continuing growth in their markets, then that bodes well for the medium future.

“The lower US dollar will be helping with this confidence.

“Obviously, obstacles such as trade barriers are still a challenge in some markets, and ExportNZ will continue to work with companies to help overcome this.

“We also await the outcome of the TPP negotiations which, if successful, could take things to another level completely.”

ENDS

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