OVERSEAS TRADE

Dominion, Volume 35, Issue 285, 1 September 1942, Page 2

OVERSEAS TRADE

Exports And Imports Increase The import and export trade of the Dominion in the first six months of 1042 shows a noticeable increase compared with the trade of the corresponding ]>eriod of last year, according to the Monthly Abstract of Statistics issued by the Census and Statistics Department. Exports are up by £6,559,738, while imports have risen by £2,210,976, so that the movement of trade balance is more favourable to New Zealand by £4,348,762. The Dominion’s credit balance for the six months this year is £18,949,120. t c T Exports for the month of June, 194*., at £11,025,708, wore the highest value ever reached by the Dominion in any month, while imports for June, £3,(02,323, were the highest value since January, 1921. It should be noted, however, that the prices now received for the Dominion’s products in the world markets are increased compared with pre-war years, so that value figures do not, and cannot, form any guide to quantities or goods exported, and the same can be said to apply to goods imported. . The returns of primary exports in the six months ended June 30, which normally covers the Dominion’s heaviest export period, but which may not now, through the dictates of war economy be so reliable an indication, show a.consideiable increase in value and weight. A faU in weight and value of butter export is more than offset by the rise in cheese export, as might, be expected by the change-over to cheese production last season, a policy now in reverse at the request of the Home Government. In the meat classes, lamb and mutton show increases in the first six months of the year, mutton showing an increase approaching 100 per cent, compared with the corresponding period of 1941. Beef, too, shows an increase- compared with last year, with a value rise of more than 25 per cent, at'£1,080,749 for the six months. . ,

The export of dried milk fell in both weight aud value iu the six-month period,

but preserved and condensed milk and cream rose notably. In the first six months of 1941 the weight exported was a little less than 4,000,0001 b., of export value £94,928, while in the correspowhng months this year more than 8,000,0001 b. were dispatched abroad, of value £206,50lExport of wool rose both in quantity and value exported, the return this year to June 30 being 501,167 bales, value £9 848,928. This is an increase of 84,(90 bales a’ud £1,816,011 value compared with last year’s period. . Perhaps the most remarkable increase among the imports is shown by tea, of which 9,773,3181 b. arrived in the Dominion during the first six months pf this year, compared with 4,071,6351 b. in the same period last year. This represents a value increase, of £849,314. IVheat, also, shows a sharp increase, from 0-J.3JJ bushels last year to 1,403,403 bushels up to June this year. There was a considerable increase, too, in the number of woolpacks arriving. . The importation of spirits, excepting rum, shows considerable decline. Brandy was almost 10,000 gallons less this year to June, at 21,423 gallons, while whisky showed even sharper decrease. Only 35,051 gallons arrived in the Dominion in the six months period this year, compared with 113.030 to June last year. Wines, on the other hand, were imiwrted in increased quantity, this year’s figure of 64,319 gallons being nearly 6000 gallons in excess of the corresponding period. Rum arriving was 28,443 gallons, compared with 9710 last year. Unmanufactured tobacco imported to June last year was more than 3,000,000 lb., while this year only 33761 b. total were imported in the first half of the year. The arrivals of footwear this year have been only about half those in the same period last year, but hosiery, possibly through the incidence of import licences, has increased to nearly ten times the value. Silk, artificial silk, and woollen piece goods showed rises of from 5 to 20 per cent, in value imported. There was considerable decrease iu the arrivals of dried fruits excepting dates, of which almost-double the quantity was landed this year. Among fresh fruits bananas showed an increase, citrus fruits decreasing bj' about 25 per cent. Cocoa beans, cocoa and chocolate also showed decrease of arrivals.