EXPORT POSITION

Dominion, Volume 21, Issue 118, 16 February 1928, Page 9

EXPORT POSITION

REMARKABLE RECOVERY MADE COMPARISON WITH TWELVE MONTHS AGO Dominion Special Service. Masterton, February 15. Figures quoted by the Prime’ Minister at the Mastertoil A. and P. Association’s smoke concert to-night showed that New Zealand’s export position was very satisfactory’ compared with the position twelve months ago. During 1927, said Mr. Coates, the exports from New Zealand were valued at £48,496,354, and the imports at £44,782,946. The following table shows the exports from and imports into New Zealand during the past three years, and the balance of trade in favour of or against New Zealand:— Exports Imports Year £ £ 1925 55,262,272 53,456,407 1926 45,275,575 49,889,563 1927 48,496,354 44,782,946 Excess of Exports Imports £ £ 1925 2,805,865 — • 1926 — 4,613,988 1927 3,713,408 — “The net balance in favour of New Zealand for three years is £1,905,285. It will be seen that after an adverse trade year in 1926 a rather remarkable recovery has been made and exports have increased by approximately £3,250,000, while imports have declined by over £5,000,000. Dealing first with the exports from the Dominion, it may be mentioned that the decrease of practically £10,000,000 in 1926, as compared with 1925, was caused chiefly by a drop of £6,000,000 in the value of wool from the abnormally high prices of the 1924-25 season, although the quantity of exports was roughly the same, and also by similar, though less marked, decreases in the case of butter and of meat.

“When the exports during 1927 are compared -with those of the previous year, one of the most gratifying features is the increased value of wool exported. The present season’s wool has averaged for export £23 per bale, whereas the wool shipped during the corresponding months last year averaged only £lB per bale. As our ■■xports of greasy wool during the season from November to April averages about 480,000 bales, the extra amount realised by the present increase in. prices should approximate £2,400,000. In this connection it may be mentioned that the total exports of all wool during 1927 from the ports in Wellington province totalled 323,361 bales, valued at £6,267,520. “Although' the declared export prices for frozen mutton and lamb during last year were not as satisfactory as those of 1926, the increased quantity exported gave a total return of £8,047,000, an active increase in value of £332,000 over 1926. In view of the importance of obtaining oversea markets, other than the United Kingdom, for our products, it is interesting to find that during 1927 the exports to the following countries increased substantially over tho figures for the previous year:— Exports Increase over 1927 1926 Australia ... 3,670,462 616.000 Canada 1,666,593 805,000 France 10,008.291 327,000 Germany ... 1,139,654 775,000 “The increases are due chiefly to the larger exports of butter in the case of Australia and Canada, and of wool to France and Germany. Exports to the United States of America, however, decreased from £3.818,000 to £2,681,000, a drop of £1,137,000, but this is compensated for by a decrease in the imports from this country of £1.927,000. The principal factor in reducing the total imports into New Zealand has been the decrease in the imports of motor vehides, which hade fallen from «£3,632,000 in 1926, to £2,037,000. in 1927. f’etrol decreased in the same by £618.000, although the quantity was greater than the previous year by 3,234,000 gallons, and the value of apparel and woollens imported fell from £3,707.000 in 1926 to £3,343.000 in 1920. Many other lines of imports showed a similar declining tendency, but not to such a marked degree as the items mentioned.