N.Z. Sales To Britain Double Purchases In First Post-War Year
The United Kingdom, which bought 70 per cent of the New Zealand exports in 1946, has always been our best customer by a large margin. The United States, the next best customer, bought less than 10 per cent of our goods in 1946. Because of specialisation in primary production, New Zealand depends on Britain to a large extent as a market for exports and as a supplier of manufactured articles. In the first post-war year New Zealand had nearly £100,000,000 worth of surplus primary produce and raw materials to sell overseas. Of this total, bought £70,000,000 worth, mainly food. In fact, the current bulk purchase contracts give New Zealand an assured market in Britain for some time to come.
During 1946 New Zealand imported £71,000,000 worth of goods (mainly articles) from all sources. Britain supplied half these imports, worth £34,000,000. In trading with Britain, New Zealand sold twice as much as she bought (exports £.70,000,000; imports £34,000,000), but some of the surplus earnings of sterling were used to buy from other countries.
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Bay of Plenty Beacon, Volume 12, Issue 22, 17 February 1948, Page 7
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182N.Z. Sales To Britain Double Purchases In First Post-War Year Bay of Plenty Beacon, Volume 12, Issue 22, 17 February 1948, Page 7
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