sail-world.com
 
 
News Home Cruising Photo Gallery Video Gallery

 

Sail-World.com : Aussie exporters adamant - high dollar hurts sales

Aussie exporters adamant - high dollar hurts sales

'Containers for export - high Aussie dollar is hampering sales'    . ©
Six out of 10 exporters believe a high Australian dollar is hurting their sales, a survey released by the Australian Institute of Export shows.

More than 60 per cent of the 250 respondents said the high Aussie was having a negative impact on their exports sales.

Of those, more than half (55 per cent) said the decline in sales was between 10 per cent and 30 per cent, while nearly a quarter (24 per cent) said they were experiencing a drop of more than 30 per cent.

'Mining exports are continuing to increase, but exports outside of the mining sector are feeling the effects of the GFC and an ever-climbing dollar,' the institute's executive director Ian Murray said.

Mr Murray said he was surprised by the number of exporters who said they were experiencing difficulties.
'What was even more alarming was the belief among many exporters that if the dollar remains high, an even greater number will be hurting,' he said.

Industries that appear most affected are education, Australian-based companies working for overseas clients and agriculture - and where there are no imported components to help offset the cost of production.
'Wine exports, particularly those who depend on price, are now having trouble selling to Europe and the USA,' Murray said.

Still, some companies were importing a significant part of their raw materials at 'very good' prices, and were stockpiling while the dollar was high.

'What seems to really worry exporters is the threat of rising interest rates at the same time as having a strong Aussie dollar,' said Murray. 'This will put many export companies under an even greater pressure as it will slow marking investment when it is need most.'

Some companies are going against the trend and importing a significant part of their raw materials at very good prices. Some of them are stockpiling while the dollar is high, and other larger companies are relying on their long term contracts and their ability to manage risk more efficiently.

The study made it clear that exporters need some assistance if Australia is to retain a healthy and diverse export base. 'The first thing that needs to be done is to build the finance skills, and in particular the foreign exchange capabilities of small to medium size exporters. If we don’t, companies will continue to find themselves in trouble,' Murray said.

According to Murray, as well as building skills among exporters, it was also critically important to inject confidence back into the sector’s bloodstream so that companies will have the courage to spend more on marketing.

As part of the study, exporters were asked whether they would spend more on marketing if they received their full 50% entitlement from the Export Market Development Grants scheme and over 150 said yes. 'This is where the Government needs to start. The $50 Million that the Gillard Government took out of the scheme should go back in immediately and for the long term, the scheme must be capped at $200 Million and indexed.'

Australia is highly dependent on export earnings for income and jobs. Governments around the world are spending on an export led recovery when their currency and interests rates are at historical lows. There has never been a more important time for the Australian Government to support its exporters. 'They need to act now.'

More at www.aiex.com.au




by Media Services

  

Click on the FB Like link to post this story to your FB wall

http://www.sail-world.com/index.cfm?nid=81844

6:44 AM Tue 29 Mar 2011 GMT






Click here for printer friendly version
Click here to send us feedback or comments about this story.


News - USA and the World

Volvo Ocean Race 2014-15 CEO Knut Frostad talks (Part I) *Feature by Rob Kothe and the Sail-World team,










America's Cup: Team NZ wish Davis well with new team by Richard Gladwell, Sail-world.com/nz,


Fisher's View: Sailing perfection at Hamilton Island- Day 3 by Bob Fisher, Hamilton Island, Queensland




2014 Formula Kite World Championship Day 1 by Markus Schwendtner, Istanbul
























Opera House Cup - Images by Ingrid Abery by Ingrid Abery/Sail-World.com,


Teams descend upon Cowes for inaugural J/111 World Championships by Stuart Johnstone, Cowes, Isle of Wight, England
























IFDS Worlds - Gary Jobson to attend opening ceremonies
Melges 32 U.S. National Championship - Dalton DeVos crowned champion
2014 Nanjing Youth Olympic Games trailer
2014 Chicago Grand Slam - Canfield wins
Round Britain and Ireland Race - Varuna takes overall lead
Audi Hamilton Island Race Week; Crosbie Lorimer Day 1 Images
Fisher's View: Hamilton Island Race Week - Day 1 - Stayin' Alive
CORK Olympic Classes Regatta 2014 - Day one
Youth Olympics: practice over, athletes welcomed, time for YOG sailing
Round Britain and Ireland Race - Record for Artemis-Team Endeavour
2014 Melges 32 U.S. National Championship - Day 2
Sevenstar Round Britain and Ireland: Artemis sets fourth course record
2014 Chicago Grand Slam - Top seeds survive as semi-finalists
420 and 470 Junior Europeans - Breezy day 4 in Gdynia
RC44 World Championship - Dramatic improvement for Artemis Racing
18' Skiff International Regatta - Action begins August 25th
Round Britain and Ireland Race - Challenging conditions arise
Round Britain and Ireland Race - Record-breaking monohull victory
Round Britain and Ireland Race - Dongfeng Race Team finishes third
RC44 Marstrand World Championship - Bronenosec the star performer
Bahamian Olympic Sailor to carry flag in honour of Sir Durward Knowles   
Sevenstar Round Britain and Ireland Race: Records continue to tumble   
Sevenstar Round Britain and Ireland Race: Course Record for Team SCA   
Round Britain and Ireland Race - Team Alvimedica completes the race   
2014 Melges 32 U.S. National Championship - Day 1   
420 and 470 Junior European Championships - A crazy race day 3   
2014 Sevenstar Round Britain and Ireland Race: Monohull record smashed   
2014 Chicago Grand Slam - Top seeds take the early lead   
Frostad proud to have seven Volvo Ocean Race boats with seven sponsors *Feature   
RC44 World Championship - Bronenosec Sailing Team on form   
Round Britain and Ireland Race - Dongfeng defends third position   
Volvo Ocean Race: Team Vestas Wind emerges into the sunlight   
Volvo Ocean Race: Round Britain on board Team SCA with the   
Volvo Ocean Race: Round Britain on board Azzam and Team Campos   
Sevenstar Round Britain and Ireland Race - Twist of fate on day 5   
Mallorca’s Puerto Portals to host the 2015 TP52 World Championship   
Volvo Ocean Race: Round Britain on board with Team Alvimedica   
Volvo Ocean Race: Round Britain with on board with Team Dongfeng   
Melges 32 U.S. National Championship 2014 - Teams ready for action   
USA Match Racing Grand Slam Series - Kicks off in Chicago   


For this week's complete news stories select    Last 7 Days
   Search All News
For last month's complete news stories select    Last 30 Days
   Archive News







Sail-World.com  


















Switch Default Region to:

Social Media

Asia

Australia

Canada

Europe

New Zealand

United Kingdom


http://www.sail-world.com/event_images/image/Twitter_logo_small.png http://www.sail-world.com/event_images/image/FaceBook-icon.png  http://www.sail-world.com/event_images/image/RSS-Icon.png

United States

Cruising Northern

Cruising Southern

MarineBusiness World

PowerBoat World

FishingBoating World

 

Contact

Commercial

News

Search

Contact Us

Advertisers Information

Submit news/events

Search Stories/Text

Feedback

Advertisers Directory

Newsletter Archive

Photo Gallery

 

Banner Advertising Details

Newsletter Subscribe

Video Gallery

Policies

 

 

 

Privacy Policy

 

 


Cookie Policy

 

 



This site and its contents are © Copyright TetraMedia and/or the original author, photographer etc. All Rights Reserved.  Photographs are copyright by law.  If you wish to use or buy a photograph contact the photographer directly.
XLXL NEW US
LocalAds   DE  ES  FR  IT