NEW ZEALAND'S TRADE

Dominion, Volume 3, Issue 775, 26 March 1910, Page 6

NEW ZEALAND'S TRADE

SWING OF THE PENDULUM. EXPORTS RISE AND IMPORTS . FALL. INTERESTING FIGURES. ' In the report to be submitted to members of the ' Wellington Chamber of Commerce appears some very interesting, figures dealing in a simple and understandable mninwr with- the;trade of New Zealand, for which.the chamber is indebted to its • painstaking • secretary (Mr. S. Carroll). A year ago the council, says.the report, had : to record >>. ■ period of severe shrinkage in the value of the exports of. the Dominion, accompanied by an exceptionally heavy i scale of importation, conditions which led to a time of considerable financial stringency. That time is now happily /past. The scale of importation was' checked, and, fortunately,, a substantial . improvement took place in • the volume and the value of the country's products. . A Comparison. The measure of the changes that took place in the last two years can best be understood by a comparison of the total values of exports and imIports, apart from Bpecie, during the 'last four years, ending with September 30. These totals aro as follow:— •Tear. Exports. Imports. -8 £ 190W ._ 17,709,378 ■ 13,575,121 11906-7 ..«».. ; 19,891,846 ' . 16,071,887 1907-8 16,370,587 17,750,868 1908-9 ......;...' '18,700,159 . 14,916,005 The margin yielded by the excess of exports in 1905-6, 1906-7, and. 1908-9 (furnished the ■ means of meeting the (outside interest obligations of the Doiminion. Means for this purpose had tto be otherwise provided in 1907-8, as iwell as for meeting tho claims arising rffrom the excess of imports. The position was. really even worse • than' the 'figures indicate, as it-is generally recognised that our chief .export, -wool, iwas in that year over-valued by about 'one million sterling. The abnormal call upon the banks amounted, there? ifore, in round numbers, to about six millions. Following are particulars of our ex'ports for tho last thiee years ending with September 30:— '' " 1908-9 ' 1907-8 1906-7 £ £ £ -.Wool 5,914,G95 '5,710,927 7,429,727 Sheepskins 657,185 525,845 786,438 Frozen .Meat;.:..-;.' 3,561,878 : 3,052,362 3,449,176 Sutter and Cheese ... '2,479,626 1,911,409 2,226,341 aCalloW ... 647,715 463,823 560,269 •Gold .„.. 1,942,089. 2,043,975 2,135,593 iEjum (Jum .517,536. 406,678 576,722 , iHemp ..;...- 297,592 460,619 864,280 Timber ... 347,149 346,264 340,309 , Grain, whole ( and ground ' 844,798 98,554 79,697 'Other KZ. Produce 1,317,178 1,097,765 1,239,021 ! '■Total NJu ■ ' Produce 18,527,441 16.U8.221 19,687,573 He-exports -. 172,718 ■ ,252,366' 204,273 Specie 253,502 12,586 92,426 Total ... 16,384,173 19,984,272 The drop in wool, as well as in tho total value, in 1907-3, and the measure of recovery in 1908-9, were both greater than the figures show, owing to the over-valuation 'of ;„wool referred to abowi. With exception of'gold, hemp, and' re-exports, each class shows increase, "the most remarkable case being that of grain and gram products.

lEaJue and: Output, v Tbfifoßowhig figures give; the'quantities of the more important lines of .: export, which reveal to what extent increased value is the result of heavier output;— ,-..-.-. •■'• ■.;.. ... , , .■■•, : . -'■'■■.■. ■■■'~'.•■ 19083' : 1907-S ' 1906-7 Wool ■ db.) 187,619,181,163,930,722 161,006,579 Frozen- •:,'.■'■'. ' ' . Meai(ewt) 2,022,050- 2,371,096 Tallow V,::,.:-.; ',-..■: ~■-..;■■ .". (tons) :>- 24,117, .: 17,981 V: . 20,786 Butter-. '-•;■■:• -■/, (cwt.);... ; - 288,930 - 229,661 335,016 Cheeso '■■ - ;■ (est) ... ; 355,670 ■'. 273,761 203,380 Kauri Gum. * ;/(tans) .'..' 7,801 '\ 5,905 ". 8,853 Hemp ~.'' '' tons'; _.\ .'■'. 11,015 '19456 29,010 TOeat ■■.■.■ v (bushA_. 1,119,212 ; 1,388 17,935 Oak .:■ ...-- i j. Omsk.)-. 19,780,139 111,102 208,171 Each item shows increase in-quantity except hemp, which exhibits a heavy fall-ing-off. The total of wool, reaches' : 'a ,; level never attained before, the result of. increased flocks and well-grown fleece, and this increase in quantity claims a larger share.in the augmented .valne than is attributable to higher prices. ■ \ / : V/yV.Wool. . ■-._ ■ '■:■; -Tie quantities and values;, of .'the shipments of-wool from the North and fcputh Islands respectively in the' last three years compare as follow:— . NOETH ISLAND. ...'.'. ."Weight. . ■ Value. Tear. : ' -lb. ■ £ %&l ••-—• ;85,«W69 ."■■'., 1,118,040 .■1307-8 ............ 102,167,607 , 3115 551 1908-9 ............ 115.872,097 , .3*319*639 ~: SOUTH ISMND... .. .■Weight. Value. ''Xeaz. •-'. -lb. ' "* . 190W . . 68,555,310 .. ■ 3.31X687 1907-8 .. ... 61,762415 ' 2,295 376 80M...._..... 71:717*081 .... 2^5*056 Hare the efiect of the inaccuracy in the valuations in 1907-8, is -.clearly seen. The North Island shipments for 1908-9 show, an'increase in weight equal to about 13 per cent., and yet with the improved Dries .which-, are known to have prevailed in that year the official total shows a decrease of nearly £000,000.. Something like £600,000 should,'no doubt, be taken off the value for 1907-8, while that for 1908-9 might probably be • slightly increased. In quantity the North Island shows an increase in the two years of over 21 per cent., .whilo that of the South Island is only between 4 and 5 per cent. ■•■ -; . .... The averages of declared export values put upon wool,from the two islands in the Unco years compare as follow: — North. South Island. Island; MO6-7 ...—.■,..■ 10.35 d. LL59d. 1907-8 _ .„■.,■ &SW. BJ2d. 1208-9 6.881 ■". 8.68 d. The valuations for 1907-8 are-here seen to be manifestly too high, while those for 1908-9 are probably below the mark, especially in the North Island. In twelve out of the fifteen wool-shipping ports of .New Zealand, the official statements of average value for 1908-9 wore below those for 1907-8, whereas it is weU known that better prices were realised in the later year. This is a striking illustration of the need for careful revision of these valuations. :,, • ■ -.. ■',''■■ Frozen Meat and Grain. In frozen meat the increase in weight equals nearly 24 per cent., but. owing iio-teerajricea the excess m .valuer/falls

? considerably below'that rate. The exports from tho two' islands compare as follow:— t - . North Island. Weight. '' Value. ■'":• Year. • owt. .-! : .£ . 1906-7" 1,210,855 1,653,850 1907-8 1,190,225 1,684,824 1908-9 ......... ■.1,526,044 -2,020,395 1 South Island. Weight.- Value. .; Year.; :•'■,'.' cwt.' £ >'• 190&:7 , ..,-..;. 1,163,241 1,795,326 r 1907-8 .': 831,825. .1,367;538 . 1908-3 ' 979,400 1,541,483 1 The South Island has not got back to j the figures of 1906-7; This is, however, . fully compensated for by the increased production of grain. Tho North Island, which produces . scarcely any grain, > shows substantial increase, in meat as [ well as in wool. Butter and Cheese. Butter and cheese compare for the two islands as follows:— North Island;. Weight.- ' Value. Butter— . cwt. £ 1906-7 ......... 309,886 1,526,405 1907-8 211,410 1,054,925 „,1908-9 264,785 1,360,123 Cheese— 1906-7 .... 137,928 382,951 1907-8 186,222 518,367 1908-9 ..„ 241,410 672,430 South; Island. Weight. Value. Butter— ' : cwt.. £ 1906-7 .„...„. .25,160 128:586 1907-8 18,254 91,089 1908-9 24,172 125,805 Cheese— " 1906-7 65,452 188,399 1907-8 87,539 247,028 1908-9 114,260 321,268 Imports. ■ The volume of imports exhibits wholesome and needed reduction. The'values tor the last three years ending with September 30 compare as follows:— 1908-9. ; : 1907-8. 1906-7. N.lsland— £ £ £ Auckland 4,251,771 4,680,694 4,184,076 Wellin't'n 4,003,882 5,084,281 4,649 807 Other N.I ports ... 861,6411,056,781 869,630 ■ S. Island— Lyttelton 2,317,690 2,690,596 2,618,721 Dunedin 2,082,487 2,550,282 2,368,423 Other S.I ports ... 1,119,795 1,342,064 1,098,460 Total N.I. 9,117,29410,821,756 9,703,576 Total S.I. 5,519,972 6,582,042 6,085,604 Specie to all ports ... ' 710,363 270,558 826,045 Parcels Post ports ... 278,739; 346,170 282,707 Total Do-" minion 15,626,36818,021,42616,897,932 Total' apart from ' specie 14,916,00517,750,86816,071,887 " Each' division of the Dominion shows a shrinkage more or v less substantial. The total, apart from specie, as well as tho total for each island, shows a decreaso of about 16 per cent. Tho Gazette returns do not give any particulars regarding the classes-of goods imported, information .'which, if available, would furnish .material for interesting comparisons.