AUSTRALIAN TRADE

Evening Post, Volume CXI, Issue 34, 10 February 1931, Page 12

AUSTRALIAN TRADE

NOW ON THE EIGHT SIDE

The figures of Australia's oversea trade for the first six months of the financial year (to 31st December, 1930,) disclose that the excess of exports over imports has reached fair proportions. There was an excess of exports over imports of £11,893,055, compared with an.excess of imports of £14,594,847 for the corresponding period of 1929. Exports of gold during the 1930 period .were, however, considerably heavier at £10,217,330, against £6,626,772. Imports showed a heavy fall of £36,403,----757. For theVperiod 30th June to 31st December, 1930, imports were , £38,412,771, against £74,816,528 for the corresponding period of 1929. Exports, including gold, were valued at £50,305,826, against £60,221,681, a fall of '£9,915,855. . A favourable feature of the figures is that exports of merchandise alone during the month of December were £3,568,461 in excess of the total imports. Moreover, the export of gold showed a heavy decline when, compared with December, 1929, the figures '-being £180,522 and £2,182,250 respectively. On the other hand, exports of merchandise also showed a decline, being ,£8,746,948, against £9,586,07/7. imports during December/1930, were less than half those of December, 1929. Tn December last year imports were £5,178,----487, against £10,662,942, a decline of £5,484,455. The .fall was spread over almost every item. Although the figures at the end of the, first half of the financial year disclose ,an increasing excess of exports due to the heavy fall in imports? it has to be borne in mind, states the Sydney "Herald," that before a truly favourable balance is reached the excess of exports should be sufficient to cover the oversea interest commitments of the Government, amounting, on an average, to £3,000,000 a month. Thus, ■while the half-year's interest billis £18,----000,000, the excess of exports is £1J,893,----055, leaving a deficiency •of '£6,106,945.