REVIEW OF EXPORT YEAR

Hawke's Bay Herald-Tribune, Issue 176, 12 August 1937, Page 3

REVIEW OF EXPORT YEAR

Primary Products Prices Higher BIG INCREASE 1N W00L Statistics illustrating the stat© of business in June reveal the normal voff-season declines due to the 'winter elaekening, reports the Government gtatistician. The value of exports shows a jnaterial , decreaee? from the May totai j -while statistics, of bank debits, note circulation, and transport activity, indicate the seasonal slaekening in _ internaJ businesa pctivity characteristio of this season of tbe year. • * " While statistics of bank debits and other indicators of the state of internal' business activity show seasonal decreaees, comparjsons with June of recent previous years indicate a oonsiderably higher level of business activity generally 'during the oif-season tban been the case for some years past. Since June virtually marks the close of the export season, trade statistics for the 12 montks ended on June SO poesess a special interest. The export season was definitely favourable, tho marked rise in wool-values being tho outstanding feature of the season. Althougjh wool production was eomewhat lower in 1936-37 than the reeord level attained in the previous year (315,400,0001b. in the grease as compared with 316,500,0001b.), the value of exports of wool in the production year just closed was 47 per cent. higher than in the previous year. ; Exports" of butter and cheese show# inereases in quantity and ; value as. compared with the figures for the pr.e- . vious June year, the aggregate value of exports of butter being 11.1 per cent. up, and of cheese 17.1- per cent. up. The value of exports of lamb showed a. 17.2 per cent. increase, and pork an 8.2 per cent. increase, while exports of mutton were 8.2 per cent. lower in value than in 1935-36. Prices of New Zealand products on the overseas markets have been substantialiy higher. during this period than during the same six months of 1936, export prices of major commodities showing the following inereases in the 1937 period:— Increase Butter ... ... 1.5 per cent. Cheesq «. 5.8 per cent. Frozen beef ... 5.8 per cent. Chilled beef ... ... 4.8 per cent. Frozen lamb ... ... 4.3 per cent. Woo] (greasy) ... ... 71.5 per cent. The increase in wool figures is particularly marked, while stocks of wool in New Zealand (sold and unsold) are substantially lower than was the case 12 months ago * (31,500,0001b. in the grease, as compared with 43, 700, 0001b). The value of imports during the six months ended on June 30. 1937, was £25,727,401, an -increase of 29.2 per cent. over the totai in the first ha I year of 1936. Despite this considerable increase in imports the excess of commodity exports over commodity imports during the 1937 period was £2,051,952 higher than in the same period of 1936. ■ In terms of New Zealand currency and excluding specie, exports for the year ended June 30, 1937, amounted to £61,621,474 and imports ior t.ht same period to £50,076,468, leaving an excess of exports over impoits of £14,545,006, as. compared with £14,150,687 in 1935-36 and £8,652,370 in 1934-35. The 1936-37 totai was 20 pei • cent. greater than that of the previous year. Wool aocounted for 55 per cent. ot the increase, butter for 15 per cent. and lamb for 12 per cent . The remarkable increase in wool v?;«j acliieved in spite of reduced shipinents. Tbe declared value a bale in 1936 37 was £22 3/7, an increase of 60 per cent. over the previous year's figure of £13 17/11. The inereases in butter and lamb were maiuly due to bigger shipments. A substantial increase in elieese resulted maiuly from better prices, this also upplying to hides and skhis.