31 Oct 2012

More manufacturers closing

4:35 am on 31 October 2012

More manufacturers are closing down and fewer are starting up as they appear to be struggling to survive with the high value of the New Zealand dollar.

New statistics out on Tuesday reveal that, for the sixth year in a row, the number of manufacturing firms in New Zealand has fallen.

Green Party co-leader Russel Norman said the figures from Statistics New Zealand show that the loss of manufacturing firms and jobs is a major problem.

Dr Norman says the National-led Government cannot continue to ignore the harm the high value of the dollar is doing to manufacturing.

According to Statistics New Zealand, manufacturing is still the biggest employer, employing 224,200.

However, in the year to the end of February, the number of manufacturing firms fell by 1.8%.

Across all industries, the number of firms fell by 0.8%.