WELLINGTON NEWS

Hokitika Guardian, 23 March 1927, Page 4

WELLINGTON NEWS

DECLINING TRADE. (Special to “ Guardian.”) WELLINGTON, March 21. The trade returns for February hnve been released by the Customs Department. The totals of exports and imports are furnished, but the details "'ill not be available until published tn the -Monthly .Abstract. The exports for February were valued at £5,01(3,<151. as compared with £1.331,287 in February, 102(5. an increase of £684,101, which looks very satisfactory. Taking the exports for the live months to the end of February, these were valued at Cl«, 1-10.2-16 as against .£20.43(3.924 in the corresponding term of the preceding year, there being the substantial tjperease of £2,280.07*. which is very unsatisfactory. The imports for the mouth of February amounted to £3.202.010. against £1.200.431. a shrinkage of £007,821, but taking the figures for the five months the totals arc £19,012.503 against £23,142,197. showing a tali' of £3,529,032. This is a comparatively heavy shrinkage, but it docs not help very much to restore the balance of trade. Taking the two months of .January and February the imports totalled £7.303,070. against £8.951,217 in the corresponding two months of 1920, a shrinkage of £1,647,577. This is a very heavy decline, hut perhaps no more than is necessary to establish trade equilibrium, but the effect of this decline must eventually prove serious, for the merchants and traders will have so much less goods to .handle and turn-over must shrink and profits with it. With smaller profits many business houses may find it necessary to reduce hands. It is to he honed that this will not be necessary. Last year’s trade returns for the various norts show that in the matter ,of imports Auckland bolds first place 'with a. total of £17.189,076. the figures for 1925 being £17,312,990. Wellington came next with £15,653,183 against £15.874,813. The share of Lyttelton was £6,779,207. against £7.641.331, and Dunedin £4.937,722, against £5,291,7-19. Of the total imports of £49.889.563, the North Island figures were .£35.740,133, and the South Island £14.149,400. Dealing with percentages: Auckland received 311 of the total imports. Wellington 31.1 per cent., and the North Island as a whole 71.} per coni. With respect to exports Auckland's figures are £ 19.702,-1 829 against £12,434,223 in 1925; Wellington £12.825,095 against £15,607,425: Lyttelton £6,085,302 against £0.385,206; Dunedin £3,065,448 against £3.621,646; Napier £3.407,611 against £5,321.266; Bind' £2,041.693 against £'£596.351 ; New Plymouth £1.959,639 against £1,091.810, and Wanganui £1,541,297 against- £2.438,034. Of the total exports amounting £45,275.575, the North Island accounts for £31,932,116, and the South Island £13,246,135, and there were parcels post totalling £97,321. Wellington's share of the exports was 28 per cent of the total, Auckland’s 23 nor cent., and the whole North Island 71 per cent. Taking the total trade of exports and imports together Auckland’s is £27.891.906 or 29} per cent., and Wellington’s £28,482,278 or 30 per cent. ' Taking the various products, the exports of butter for the live months to .January 31st comprise 1.348.571 boxes, valued at £1.499,139, while the exports of cheese were 503.736 crates, valued at £2,210,400, and it is a question whether these values can lie accepted as correct in view of the very heavy drop in market prices. However, both butter and cheese show shrinkage m value. The total value of the butter and cheese exported during the five months amounted to £0.709,539, as I

compared with £7,754.843. a shrinkage of over a million, hut it is claimed that about three-quarters of this is due to heavy stocks being held in New Zealand on January 31st. The wooi* season does not begin until November, and the exports for the three months to end of January shows that the value amounted to £2,624,8155

against £3.310,281. a rather heavy dei dine, but partly due to smaller shipments. The shipments of wool for the four months to the end of February totalled 238,886 hales, as compared with 800,292 bales. The distribution of wool’ shipments in February was: London 22.232 hales, Hull and Goole .35.861, West Const of England 260, Dunkirk 3,652, Antwerp 80, Rotterdam 147. Germany 5,391, optional Continent 11.187, United States 3,206. Canada 1,795. Japan 44. and Australia 2,782. The value of the frozen meat exported in the three months to January Ist was C1,'309,853. as compared with £2,094.457, here again there is a marked shrinkage. The frozen meat market is perhaps the most depressed of our markets, and the outlook does not appear over promising for the latest reports indicate that the market is weaker for both mutton and i'amb.