TRADE BALANCE

Hokitika Guardian, 13 November 1929, Page 2

TRADE BALANCE

INTERESTING COMPARISON

GOVERNMENT STATISTICIAN'S

REVIEW

WELLINGTON, Nov. 11

The Govern met Statistician, in reviewing the trade and finance of the Dominion as at September. 3011). remarks :

“Judging by the aggregate debits to individual accounts (excluding Go\ernment accounts), the national volume of business for September showed a gain o* 7.5 per cent, over August, and was 4.7 per cent, above the level recorded for September, 1928. The output of uutter is running above, and that of cheese below, thp level production for last season. The frozen meat export trade shows a recession in aggregate quantity, with slightly better values. The import trade shows marked activity, whi h appears to he reflected in th einternal trade of the Dominion. Both railways and coastal shipping are handling a bigger volume of freight business. This impetus in internal trade has been accompanied by an expansion in hank advances. The building industry reflects the expansion in the State Advance business, showing a high level of activity, while the land transfer and mortgage business continue on high levels. The wholesale price level shows a slight upward tendency. The number of commercial failures are below the level for last year, and the migration ‘bulance’ is booming more favourable, “The salient point in the overseas trade statistics is the increased activity recorded during the last few months in the imnot-t /( trade, In the •normal course of events, this activity will.be followed by an increase in the volume of internal trade. The recorded value of exports in September was slightly below the same month of last year, while similar movements arc to he found in the nine monthly cumulative and twelve-monthly moving totals. The import statistics indicate a buoyant trade, those for the month showing a gain of 22.5 per cent, over ,last year, while those for the nine months show an increase of 10 per cent. The twelve monthly moving totals, however, show an increase of only 1.7 per cent. The ‘visible’ balance for the twelve months ended September was approximately £11,300,000, aca'nst £12,100,000 for the corresponding period ended' September. 1928.

“During 1928 specie aggregating £618,100 was exported, while the figure for 3929 stands so far at £515,000, making a total of over £1.000,000 for the twenty-one months to date. These are the figures yet recorded.

“The seasonal recession in the real estate business in September was not quite so marked as last year; the de'clin'e .from August to. September being 15:1 per cent, this-year p as against 21.4 per cent, last year. The monthly level of business showed a gain of 2.3 per cent, over September, 1928. That for the nine months shows an advance of 5 per cent., while the moving twelve monthly figures show an increase of 4.5 per cent, “The volume of mortgage registrations also showed the customary seasonal recession, but there is,evidence that this business is on a level well above last year. The monthly figures show a gain of 13.1 per cent, over September 1928, while the nine monthly and twelve monthly totals show gains of 20.6 and 15 per cent, respectively. The close connection in many instances between registrations and discharges of mortgages is reflected in roughly corresponding movements in the two branches of business; but although the discharges show an upward tendency it is not nearly so marked as in the case of the registrations. The volume of this class of business for the month showed' an increase of* 12.8 per cent, over last year, while the nine monthly and twelve monthly totals show gains of 11 and 7.8 per' cent, respectively. The upward tendency in all three brandies appears to be traceable to the present year. The figures of 1928 and 1927 show that the level of activity, which had been relatively high during 1924, 1925, and 1926, receded considerably in 1927 and 1928. The most significant fact, however, is that the trend at the present time is definitely upwards. “The development of motor transport continues apace. According to tile registrations of motor vehicles the number of motor-cars has increased from 119,212 at September 30th. 1928, to 137,203 or by 15.1 per cent, as at September last. Over the same period motor trucks and motor omnibuses show gains of 16.1 and 6 per cent, respectively. The imports of motor vehicles during the twenty months ended September last showed an increase in value of just over £2,000,000 or 90.4 per cent., while the value of motor spirits imported increased by approximately £400,000 or 23.9 per rent. “According to the value of building permits issued in the larger towns during September there lias been a marked increase in activity in building industry. The figure recorded for that month showed gains of 5.6 per cent, and 18 per cent, respectively over Auarust, 1929, and September. 1928. This increase has brought the nine monthly totals for the current year slightly above those for last year, but the twelve monthly moving figures still show a decrease of 7.8 per cent. During the September quarter loans authorised to workers for the erection' of dwellings numbered 1283, with a value of £1,087,155 Corresponding figures for the June quarter showed 1366, with a value of £1,197,320, while those for the March 1929. and December 1928 quarters showed 621. valued at £538.245 and 752, valued at £614,610 respectively.”