Big Surplus Of Exports Over Imports

Chronicle (Levin), 6 July 1948, Page 3

Big Surplus Of Exports Over Imports

• . " WELLINGTON, July 5. : A surplus of exports over imports was achieved for the , month of -February, jsaid the Miluster of Finance, Mr. Nash, yonight. A reco'rd volume" of exports, combined with a- level of imports lower than in the preceding uionths, resulted. in £8, 000', 000 excess of exports over impbr'ts. foY . the montli. This excess is sufficient- to"absorb the unfavourable balance during January', 1948, :and leave . an excess of exports for the two montlia of .nearly.fOjOOOJOQO. , Never before, said Mr. Nash, had; the monthly value of ex,ports been as higli a's £19,305,000, the figure for. February. This was almostas great a's the combined value of exports for Jauuary and February, 1947. The value of imports at £11,002,000, was also at a high lovel but as tlio result of a smallor allocation of impo'rt liceuces for .the current poriod, was £3,000,000 lower than the .. Januai'y figure. This favourable balance .was expected when makiug allqcations of import liceuces and 'did not mean that any volume of imports over and above the amouut for which. licences had been issued, would be possible. "There is still need to exercise tlie greatest possible economy in relation to imports if New Zealand is to make its maximum eifort towards fuliilling its obligations to the United Ivingdom to live within current export income,'' he said. Mr. Nash issued the- following detailed iigures (New Zealand cnrrencyj which include defence materials * and cquipment and -also lend-leaso supplies: . February, 1948: Exports £19,305,000, imports £11;002,000, excess exports £8,303,000. February, 1947: Exports £10,912,000, imports £6,922,000,. excess exports £3,990,000. Two months cnded February, 1948: Exports £31,105,000, imports £25,303,000, excess exports £5,802,0t)0. Two months ended February, 1947: Exports £'19,859,000, imports £15,269,000, excess expoifs £4,590,000.