8. Export Sector—Growth Targets and PerformanceGRANT ROBERTSON (Labour—Wellington Central) to the Minister of FinanceExport Sector—Growth Targets and Performance8. GRANT ROBERTSON (Labour—Wellington Central) to the Minister of Finance: Does he stand by the statement he made on behalf of the then Minister of Finance we have a very ambitious target for export growth"; if so what progress has been made towards that target?Hon STEVEN JOYCE (Minister of Finance): Yes it is an ambitious target which the Government is committed to under the Business Growth Agenda by 2025 which I remind the member is just 8 years away. Notwithstanding some current headwinds which include a decrease in world trade intensity the big drop in dairy prices and an unscheduled Statistics New Zealand revision exports by value have grown and real exports as a percentage of GDP have held relatively steady and our goods and services exports have grown tremendously in markets where we have free-trade agreements.Grant Robertson: Can he confirm that the export target referred to in the primary question was that his Government would lift exports from 30 percent to 40 percent of GDP and that using the methodology used in the Business Growth Agenda exports have in fact decreased as a percentage of GDP?Hon STEVEN JOYCE: In terms of the first part of the question that is the target to be achieved by 2025. In terms of the second part of the question real exports as a percentage of GDP which is the figure I am referring to have dropped slightly in the last calendar year but they have actually been remarkably steady over the last 10 or 12 years. I think the achievement for our exporters has been that despite a large drop in dairy exports the exports overall have grown.Grant Robertson: Why has the value of New Zealand's overseas merchandise trade fallen in real terms by $603 million since 2008?Hon STEVEN JOYCE: Well in the modern world we do not talk about just merchandise trade; we talk about goods and services. In fact for the member's benefit more and more of New Zealand's exports are now in services rather than in goods which is all about adding value to volume which I think the member used to be in favour of. So overall our exports—I do not have the figure since 2008—in the last 2½ years have grown from just under $68 billion to $70 billion despite a drop of $5 billion in dairy exports. Grant Robertson: Why was the target to lift exports to 40 percent of GDP not included in the Trade Agenda 2030 policy announced recently by the Government?Hon STEVEN JOYCE: It is included in the Business Growth Agenda targets and it will be in the next update. Grant Robertson: When he was asked in February what had happened to the target to lift exports as a percentage of GDP and he said "Watch this space." did literally he mean that there is now a void because he had ditched the target?Hon STEVEN JOYCE: This is why the member is known as a trainspotter. He is an absolute trainspotter. He does not actually focus on the substance of anything. He literally looks at little bits of paper all day and tries to work out where the inconsistency is. This Government is proud of its record which has seen exports grow at the same time as the dairy industry has gone back $5 billion. The member may recall that a couple of years ago he thought that the dairy industry declining would mean the end of New Zealand exports. He was wrong.Grant Robertson: I seek leave of the House to table a document compiled by the Parliamentary Library tracking exports of goods and services as a percentage of GDP showing that it has dropped since the National Government came to office.Mr SPEAKER: Leave is sought to table that particular information. Is there any objection? [Interruption] Is there objection or does the member want to speak to the point of order?Hon STEVEN JOYCE: I just wanted to check whether it was a real or nominal.Mr SPEAKER: The member is asking—Grant Robertson: It's real—real. It's the same methodology.Mr SPEAKER: It is real. I will put the leave and the House will decide. Leave is sought to table it. Is there any objection? There is no objection; it can be tabled.Document by leave laid on the Table of the House."