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An overview of the manufacturing sector

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  • Jane Turner

    (Reserve Bank of New Zealand)

Abstract

This article examines recent trends in New Zealand's manufacturing sector. It ?nds that sales to the domestic market have been reasonably robust in recent years, re?ecting the strong local economy. However, the share of imports in local sales has been rising, partly due to structural factors and partly due to the rising exchange rate. Manufactured export activity has ?uctuated in recent years, with key in?uences including the exchange rate, commodity prices, and cycles in trading partner economies. After some weakness in 2002 and 2003, export sales strengthened in 2004, helped by the global economic cycle. The article ?nds that pro?tability (the earnings to sales ratio) has fallen for many industries over this period, which is likely to re?ect a rising exchange rate and ongoing competitive pressures.

Suggested Citation

  • Jane Turner, 2005. "An overview of the manufacturing sector," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 68, March.
  • Handle: RePEc:nzb:nzbbul:march2005:4
    as

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    File URL: http://www.rbnz.govt.nz/-/media/ReserveBank/Files/Publications/Bulletins/2005/2005mar68-1turner.pdf
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    References listed on IDEAS

    as
    1. David Archer & Andy Brookes & Michael Reddell, 1999. "A cash rate system for implementing monetary policy," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 62, March.
    2. John Tait & Michael Reddell, 1991. "The operation of monetary policy," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 54, march.
    3. Andy Brookes, 1999. "Monetary policy and the Reserve Bank balance sheet," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 62, December.
    4. anonymous, 1987. "The basics of liquidity management," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 50, september.
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