Elaborately Transformed Manufactures (ETMs) are highlight in export performance

19/8/99
Elaborately Transformed Manufactures (ETMs) are the shining light in Western Australia's recent export performance, according to Commerce and Trade Minister Hendy Cowan.
Mr Cowan said that in a climate of falling commodity prices, the 12.9 per cent increase in value of ETM exports in 1998-99, compared with the previous financial year, was a significant boost for Western Australia.
Mr Cowan said the preliminary figures, provided through the Western Australian Treasury, show that exports of manufactured goods worth $2.5 billion now account for more than 11 per cent of the State's exports, with ETM exports at $1.8 billion or
eight per cent of total merchandise exports.
"Importantly, export growth was widespread across many different manufacturing sectors with specialised machinery and equipment (+ 258 per cent) and medicines and pharmaceutical (+ 133 per cent) among the most impressive performances,"
Mr Cowan said.
"This was achieved even though there were falls in some areas of traditional strength such as shipbuilding (-15 per cent).
"Once again the value of long-term government strategies, through the Department of Commerce and Trade, to develop the State's advanced manufacturing capacity and attract new investment has been confirmed."
Mr Cowan said that a 4.3 per cent decline in total WA merchandise exports had been spread across most of its regional markets, with falls ranging from four per cent for Europe to nine per cent for South East Asia.
"Interestingly, exports to the the Indian Ocean Rim region and Africa, which recent Government trade strategies have targeted, grew by 21 per cent to $2.6 billion."
Mr Cowan said that consistently encouraging news from the State's export manufacturing industries should help change perceptions of WA's economic capabilities.
Media contact: Peter Jackson 9222 9595