sail-world.com
 
 
News Home Video Gallery Photo 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

















2014 Halifax – Saint-Pierre Ocean Race by Patricia Nelder, Nova Scotia














Image Gallery: Stratis SL33 flies on the Waitemata by Richard Gladwell,Sail-world.com/nz,


Audi Melges 20- Sperry Topsider Charleston Race Week - Light final day by International Audi Melges 20 Class Association,
















America's Cup: Gino Morrelli outlines the new AC62 design by Kimball Livingston - Blue Planet Times, San Francisco, USA


















Audi Melges 20 Charleston Race Week - Perfect conditions in Charleston
Oyster Regatta Antigua - Full on ocean conditions for day 3
PWA World Tour - A taste of things to come at La Torche + Video
Women's International Match Racing Series kicks off in June
Melges 32 Audi Tron Sailing Series - Action shots by Max Ranchi
Clipper Round the World Yacht Race - Frustrating conditions
Man rescued after falling overboard in Pacific taken to hospital
Sperry Top-Sider Charleston Race Week 2014 - Youth leading Melges 20
Congressional Cup - Canfield leads toward Congressional Cup sailoffs
Sperry Top-Sider Charleston Race Week 2014 - Perfection for Day 1
America's Cup: Coutts claims ISAF Jury on a crusade, backs Kiwi report *Feature
Clipper Round the World Yacht Race - Will light winds hamper progress?
Les Voiles de St. Barth - Preparing to rock Saint Barthélemy waters
Clipper Round the World Race - OneDLL and Qingdao now in San Francisco
America's Cup: Emirates Team NZ up against funding hurdle for year *Feature
Melges 32 Sailing Series Napoli - Day 1 images by Stefano Gattini
50th Congressional Cup: View the Live racing here
Melges 32 Sailing Series - Napoli action shots by Max Ranchi
Volvo Ocean Race - Team Alvimedica launch new boat
Emirates Team NZ: Royals duke it out on the Waitemata
2014 Charleston Race Week - Thousands of sailors descend on Charleston   
The Congressional Cup 2014 - Williams hangs on with a classy crowd   
50th Congressional Cup: View the Live racing here   
RORC Transatlantic Race - Notice of Race now available   
Oyster Regatta Antigua - Sunshine and smiles on day 2   
Rolex China Sea Race on the horizon   
What can a boat name tell you about the person behind the helm?   
Clipper Round the World Yacht Race - Race 10 rumbles on   
SAP 5O5 World Championship - Kiel action starts August 13th   
Volvo Ocean Race - It's a family Affair   
Clipper Round the World Race - Great Britain claims line honours   
50th Anniversary Congressional Cup - Stage two   
America's Cup: Two Kiwis escape hometown action in AC45 rules ruckus *Feature   
America's Cup: Italians confirm Minoprio as Match race tactician   
J-Fest gets much needed charge   
Melges 32 Sailing Series - All set for Naples action   
Oyster Regatta Antigua - Spectacular conditions on day 1   
Clipper Round the World Race - Bitter blow as OneDLL is disqualified   
Clipper Round the World Race - Race 10 still anyone's for the taking   
50th Congressional Cup: View the Live racing here *Feature   


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