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Disclaimer: The information on this web site is issued by the New Zealand Debt Management Office (NZDMO) for informational purposes. It does not contain and is not an invitation or offer to buy or sell securities. Each page on this web site must be read in conjunction with the disclaimer at http://www.nzdmo.govt.nz.

Manufacturing

New Zealand's manufacturing industries make an important contribution to the national economy. In the 12 months to September 2008, manufacturing sector output accounted for 14.1% of real GDP. The proportion of the labour force employed in manufacturing was 12.7%. Primary sector processing (food and forestry) makes up a significant proportion of the sector.

The food manufacturing industry produces high-quality products for both the domestic and export market. This industry enjoys the advantages of a natural environment that is highly conducive to pastoral agriculture, an absence of major agricultural diseases, the potential for year-round production and an international reputation for excellence. The industry had sales of over $35 billion in the year ended September 2008, including more than $23 billion for meat and dairy products. Exports of meat and dairy products amounted to $14 billion over the same period.

Annual average growth in manufacturing was around 1% to 2% during much of 2001 and 2002 but lifted to just over 10% early in 2003. Manufacturing growth eased and then declined as the high New Zealand dollar resulted in exports becoming less competitive overseas, in addition to increased pressures on domestic producers exposed to cheaper imports. However, since late 2007, manufacturing has begun to increase once more and for the year ended September 2008, real manufacturing output rose 0.6%.

Exports, especially to Australia, are a primary driver of growth in the manufacturing sector. Despite recent weakness, the performance of non-commodity manufactured export volumes has been especially impressive, averaging nearly 5% annually since 1991. An international focus by New Zealand manufacturers, combined with attention to marketing, design, reliability, customer responsiveness and cost, have been key factors in this success.

The following table sets out the sales of goods and services in the manufacturing sector for the five years ended 30 September 2008.

Operating Income of the Manufacturing Sector by Industry Group

  Year ended 30 September
(dollar amounts in millions)
Industry Division 2004 2005 2006 2007 2008 2008
% of Total
Food - Meat and Dairy 17,050 17,029 19,054 19,839 24,392 29.6%
Food - Other food, beverages and tobacco 10,030 9,997 10,932 11,181 12,506 15.2%
Textile and apparel 2,736 2,597 2,472 2,472 2,287 2.8%
Wood and paper products 7,340 7,136 7,280 7,640 7,468 9.0%
Printing, publishing and recorded media 3,596 3,772 3,808 3,803 3,836 4.6%
Petroleum, coal and chemical products 7,506 7,969 7,694 7,819 8,166 9.9%
Non metallic mineral products 2,303 2,571 2,634 2,820 2,945 3.6%
Metal products 7,008 7,329 7,517 7,922 8,410 10.2%
Transport equipment 2,329 2,420 2,273 2,505 2,977 3.6%
Machinery and equipment 6,506 6,732 7,003 7,032 7,567 9.2%
Furnitures and other manufacturing 2,036 2,112 2,117 2,105 1,987 2.4%
TOTAL 68,442 69,676 72,784 75,137 82,540 100.0%
Manufacturing index (1) 121 120 118 117 118  

(1) Base: June quarter 1996 = 100.

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