EXTERNAL TRADE

Evening Post, Volume CXIV, Issue 124, 22 November 1932, Page 10

EXTERNAL TRADE

EXPORTS AND IMPORTS

TWELVE MILLION CREDIT

"Evening Post," 22nd l-'ovember. By courtesy of the Customs Department, trade returns for ten months ended ,31st October are available. They show " a credit balance to the Dominion of '-'- £12,000,000. The precise figures, given ' in New Zealand currency, are- as follows:— . ' : Ten months, 1932. ..-.£" ■ Exports 31.087.830 Imports 1\ 18,913,231 . Excess exports 12,174,599 . The position at this time last year was disclosed in the following returns: — '.■■"■ ■■Ten months, 1931. :-■•■■-. £ Exports 29,004,574 Imports 20,960,260 Excess exports 8,044,314 The excess of exports over imports, increased this year by £4,130,285 over that of the ten months of 1931. And the export season is only just started. Meat i and wool in quantities have yet to go forward. ' ■ /. Imports are "cut to the bone," and have every" likelihood of being still further reduced, considering the straitened - circumstances of the Dominion. Incidentally, the balance of exports for the ten-monthly period this year over the imports at £12,000,000 is the highest for. the past ten years, and the highest balance in the commercial, history of the Dominion save that for the full twelve months; of 1919, when the value of exports exceeded that of imports by £23,298,000. This was followed next year by a deficit, represented by excess of imports, of £15,153,000—by so much was ; the constable outrun. The trade returns -so far as they go .'■- are entirely against any increase in, the . exchange rate New1 Zealand on London.