OVERSEAS TRADE

Dominion, Volume 28, Issue 108, 31 January 1935, Page 10

OVERSEAS TRADE

Marked Rise in Exports IMPORTS ALSO UP Big Favourable Balance TWELVE MONTHS’ FIGURES A substantial expansion in the Dominion’s overseas trade, both in imports and exports, during the last 12 months is shown by. figures released yesterday by the Customs Department, in New Zealand currency imports at £31.281,000 are £5,700,000 up on the figures for 1933, while exports at £47.342,8-17 are the highest since 1929, and show an increase of £6,336.928 over the figures for the previous year. The visible trade balance at £16.062,000 is the largest on record with the exception of 1919. and shows an increase over that for 1933 of £637.000. The improvement in the export figures is very largely due to the high wool prices ruling in the 1933-34 season. The recent marked upward trend in imports is reflected in the figures for December, the excess of imports over exports being £198,000. In New Zealand currency imports last month were valued’at £2.791.000, an increase of £580.000 compared witli those for December. 1933. Exports were valued at £2.593.014, a decrease of £1,522.388 compared with those for December, 1933. This decrease is largely accounted for by the lower wool prices ruling this season and also smaller wool shipments during December. In the ofiieial statistics exports of merchandise are expressed in terms of New Zealand currency: imports from Australia are recorded in terms of Australian currency. and imports from other countries in sterling. Eor purposes of comparison, however, all figures quoted are expressed in terms of New Zealand currency. The export and import figures for December for the last three years compare as follow:—

hist month of £198,000 compares with export excesses of £1,904.000 and £1.034,000 in 1933 and 1932 respectively. Twelve Months’ Figures. The expansion of the Dominion's trade during 1934 after the contraction of recent years is clearjy indicated by the figures for the past six calendar years, which compare as follow:—• Excess of Exports. Imports. exports.

It will be seen that the decline in exports and imports whiely started in 1930 reached the lowest point in 1931 and 1932. During 1933 there was a considerable improvement in the value of exports leading naturally to improved internal trade conditions, and the consequent expansion of imports which began at the end of 1933 and lias continued throughout last year. The favourable trade balance is still abnormally high, and a further •steady expansion in imports mity be expected this year. 1 The above figures take no account of inward or outward movements of specie, which were as follow:— Exports. Imports. £ £ Dee.. 1934 070.800 100.090 12 nios. ended Dec.. 1934 2,283,900 1,242,000 Production Year Figures. Taking July 1 as the opening of the “tiroduction year,” the figures for the six months ended December for the last six years compare as follow:— i Excess of Exports. Imports, imports.

The decrease in exports for the six months of 1934. compared witli the same period of 1933, is due principally to the higher wool values and heavier shipments made at the end of 1933. compared with lower values and •smaller shipments of wool at the end of last. year. It will be noted, however, that for the first time since 1930, the imports show an increase over exports for this period, such a surplus of imports during this period being ■usual in normal trading years. Exports, with the exception of 1933,' are higher than any year since 1929, iln P° rts arc tlle highest since

Exports. Imports. Month of £ £ Dee., 1931 . 2.593.014 2,701.000 Doe., 1933 . .. 4.115.402 2.211.000 Dec., 1932 . .. 3,210,333 2,182,000 The excess of imports over exports

47.312.817 31.2S1.000 16,062.000 1933 .. 41.005.919 25.581,000 15,425.000 1932 .. 35,609,919 24,646.000 10.964.000 1931 .. 34.950,098 26.498.000 . 8.453.000 1939 .. 44,940.517 44,340,000 601,000 1929 .. 54,930,003 48, <34,4 <2 6,196,000

1934 .. 15,844,457 17.525,000 1,080,543 1033 .. 17,043.524 12.047,000 *4,000.524 1932 .. 14,108,202 12,050.000 •1,452.262 1931 13,308.052 11,8117,053 *1,470.309 1931) .. 15,160.001 20.458,371 5,208.370 1929 .. 17,807,522 20.260,534 8,453,012 *Pxeess of exports.