OVERSEAS TRADE IN WARTIME.

Evening Star, Issue 24291, 4 September 1942, Page 2

OVERSEAS TRADE IN WARTIME.

As the war proceeded and U-boat activity became intensified there was a very natural anxiety about the prospects of the overseas trade of New Zealand. It is gratifying, therefore, to note, from the official figures published in the July issue of the ‘ Abstract of Statistics,’ that fears were unfounded, for the position, all things considered, is highly satisfactory. Under normal conditions the month of Juno, it is pointed out, marks the close of the primary xmodnets export season, but the exigencies of a war economy necessitate many changes, one of which is the fitting in of external trading activity to the availability of sea transport. Despite restrictions due to this cause the value of the exports during the year ended June reached a record total of £74,039,151. The imports for June were also at a high level, the recorded value -lor the month being £5,702,323, compared with £4,926,220 in May, and £3J>82,417 in June of last year. After war broke out there was a call for more and more foodstuffs from the Mother Country, and the British authorities, in whoso hands lies the control of overseas shipping, gave an undertaking to lift as much of our produce as possible. That promise has been abundantly fulfilled, thanks to the courage and enterprise of the mercantile marine and the unceasing vigilance of the Navy. Even the entry of .Japan into the war, with an added threa t to the security of the sea lanes, has not unfavourably affected the position. The reaction to our successful tradingoperations is that Now Zealand's overseas trading balances will receive substantial accretions, and in general our drain on (treat Britain for financial assistance will be lessened. Another important i)oint is that by the removal of our produce the danger of our cold storage accommodation being overtaxed iu the near future is removed. New Zealand, it will be agreed, has a threefold obligation—to the Mother Land for her energy and enterprise in dealing with the Dominion’s ]iroducts, and to the Navy and the mercantile marine for their efforts in the matter of transport.