DOMINION’S TRADE

Dominion, Volume 21, Issue 112, 9 February 1928, Page 10

DOMINION’S TRADE

LAST YEAR’S CREDIT BALANCE GREAT DECLINE IN IMPORTS BRITAIN OUR BEST CUSTOMER An interesting analysis of the Dominion trade figures for last year is given by the Government Statistician in the Monthly Abstract of Statistics, issued last night. As was stated in The Dominion recently, the exports for the yeai ended December 31 amounted to £48,496,354, and imports for the same period to £44,782,946, leaving an excess of exports of £3,714,408. Figures for the previous year were: Exports, £45,275,u 75; imports, £49,889,563; balance in favour of imports, £4,613,988. The result of last year’s trading, therefore, was £8,328,396 more favourable to the Dominion than the previous year’s operations. Exports show an advance of £3,220,770, a position due mainly to increases in butter (£2,220,193) and wool (£l,131,5561. Other items showing an appreciable advance over the previous year's figures are: Frozen beef, £71,875 ; frozen lamb, £118,576; calfskins, £47,194; hides, £120,094. The most noteworthy decreases occurred in: Cheese, £356,763; rabbitskins, £146,507 ; phomiuni fibre, £52,470; kauri gum, £54,133; timber, £-50.292 Big Decrease in Imports. Imports of £44,782,016 represent a decrease of £5,106,617 as compared with the previous year’s figure. Although tnc lall is spread over a considerable number of items, the principal recessions’ are evident in (corresponding figures lor 1926 in parentheses) : Motorvehicles, £2,037,100 (£3,632,277) ; parts for the foregoing (other than tires, tubes, and covers), £268,055 (£315,181) ; wheat, £228,492 (£603,195) ; tlour, £203,153 (±421,326) ; sugar, £977,144 (£1,150,592) ; tea, £891,831 (£945,477) ; seeds, £165,157 (£256,077) ; apparel and readymade clothing, n e.i., £1,994,525 (£2,202,833) ; hosiery, £166,626 (£506,665) ; carpeting, etc., £583,219 (£657,051) ; cotton piece-goods, £1,827,423 (£2,013,280) ; bags and sacks, £425,513 (£468,420) , benzine, £58.031 (£117,977) : crude residual oil, £397,836 (£466,134) ; mot-or-spirit, n e.i., £1,914,727 (£2,417,090) ; paints and varnishes, £387,219 (£140,025) ; coal, £515,801 (£693,870) ; hardware and cutlerv, £1,019,904 (£1,149,738) : timber, £768,995 (£856,139) ; stationery, £241/62 (£296,544) ; fancy goods' £363,341 (£429,195); arms, ammunition, and explosives, £185,995 (£2b9,226) ; musical isntruments, £423,398 (£566,49-1). The principal increases occurred in: Drapery, n.e.i., £595,173 (£515,233) ; silks, etc., £839,956 (£712,508) ; galvanised plate and sheet iron, £604,171 (£529,213) ; engineers’ tools, £236,230 (£176,302) ; tires, tubes, and covers for motor-vehicles, £1,057,470 £928,466). Direction of Trade.

In considering the direction of the Dominion’s trade for the year under review, states the Abstract, British countries took exports to the value of £12,765,382, representing 88.19 per cent, of the total, an advance of 0.89 per cent, over the previous year. Imports of British origin were valued at £30,717,047, equal to 68.59 per cent, of tile total, as against 68.28 per cent in 1926. 'The United Kingdom took exports valued nt £36,877,887, representing 76.01 per cent, of the total, as compared with 77.53 per cent, in 1926. Australia’s share rose from 6.75 per cent, to 8.07 per cent., while the United States received only 5.53 per cent, ol the total, compared with 8.43 per cent, in 1926. The percentages of the Dominion’s produce which went to other export customers of importance are as follow (1926 percentages in parentheses) : Canada, 3.43 (1.90) ; Germany, 2.35 (0.80) ; France, 2.08 (1.50) ; Japan, 0.52 (0.36) ; Belgium, 0.33 (0.37) ; Fiji, 0.25 (0.33). 'The United Kingdom furnished imports (according to country of origin) to the value of £21,462,977), equal to 47.93 per cent, of the total, an increase of 2.33 per cent, over the. previous vear. Imports from the United States’fell from 20.05 per cent, to 18.04 per cent. Other countries from winch the Dominion drew considerable supplies during the year were (19’26 percentages in parentheses) : Australia, 8.64 (9.27) ; Canada, 6.11 (6.88) ; France; 1.99 (1.63) ; Dutch East Indies, 1.97 (1.59) ; Cevlon, 1.91 (1 72) ; Germany;, 1.87 (1.351’; India, 1.70 (1.85); Fiji, 0.95 (1.79) ; Belgium, 0.89 (0.79) ; Switzerland. 0.85 (0 «4) ; Netherlands, 0.64 ( 0.52) ; Italy, 0.62 (0.63) ; Sweden, 0.61 (0.64). For the vear 1927 Auckland shows a slightly greater value in both imports and exnorts as compared with Wellington. These two ports together accounted for 52 per cent, of the exports and 65 per cent, of the imports. Auckland easily leads the way in the quantity and value of butter exported. Wellington is first in wool, Lyttelton in frozen lamb, and Dunedin in rabbitskins.