Dominion's External Trade Much Bigger Than Before War

Bay of Plenty Beacon, Volume 13, Issue 11, 22 October 1948, Page 5

Dominion's External Trade Much Bigger Than Before War

New Zealand is receiving much more for exports and spending much more on imports than before the war, says “Consumer News.” One reason for this is the increase in prices that has taken place both on ■the goods we receive and on those 'we sell overseas; nevertheless, apart from the price factor, New Zealand is actually exporting and importing a greater volume of goods than be- / fore 1939.

In 1947 New Zealand’s external ■trade reached th'e record figure of £258,131,000, made up of £129,406,000 in exports and £128,724.000 in imports, which gave the Dominion a favourable trade balance of £682,000. Export values were more than twice those averaged from 1936 to 1938, while imports were worth two-and-a-half times those received immediately pre-war. Taking the two contributing factors—increased prices and increased volumes —prices for exports were up 85 per cent with import prices up 100 per cent. In quantity or ■volume exports are up by 19 per cent and imports by 15 per cent. Both in value and volume imports .-and exports were much larger in 1947. than in 1946.