DOMINION'S TRADE

Hawke's Bay Herald-Tribune, Issue 124, 11 June 1937, Page 8

DOMINION'S TRADE

—Own Correspondent.)

Record Value of Exports Last Year HIGH SPENDING POWER

(By Telegrapfc

WELLINGTON, This Day. The l'act that the value of exports for the year ended Mareh 31 last was greater than for any previous year in tho history of the Dominion was meationed to the annual meeting of shareholders of the Bank of New Zealand by the chairman, Mr. A. T. Donnelly. Eor the purposes of comparison Mr. Donnelly quoted the following figures of exports and amporte in sterling for the past five years: —

"Exports for the year ended March 31, 1937," said Mr Donnelly, "are higher by about £8,500,000 as compared with the preceding year, the ehief faetors being the increased values of wool and dairy produce. Import figures are up by over £8,000,000. The excess of exports over imports is still more than sufficient to meet. New Zealand 's overBea interest bill and other recurring external eharges. Nevertheless, the large increase dn the import figures prompts me to suggest that merchants should keep a watchful eye on the trade figures when considering their orders for importations. "The Dominion is enjoying^ a period of relative prosperity. The high prices obtained for wool and ancreases in the production of, and return from, butter and cheese have largely added to farmera ' resources, and trade has benefited accordin^ly, In addition, the Government has embarked upon an extensive Public Works poiicy and has also by legislative enactment restored wages to their 1931 level, thus adding considerably to the people 's spending power, .though these better eonditions have been offset to some extent by 'Increased cost of living. "A surplus of £472,000 in the national aceounts for the year ended Mareh 31 last has been announced by Ihe Acting Minister of Finance."

Year to Excess of March Exports. Imports. Exports. , 31. £ Stg. £ Stg. £ Stg. 1933 32,677,000 22,049,000 10,628,000 1934 36,834,000 20,908,000 15,926,000 1935 35,985,000 26,082,000 9,903,000 1936 39,900,000 30,072,000 9,828,000 1937 48,381,000 38,250,000 10,131,000