Adverse Trade Balance Remains

Sun (Auckland), Volume 1, Issue 38, 7 May 1927, Page 4

Adverse Trade Balance Remains

POSITION IMPROVED VALUES GENERALLY DECLINE (From Our Resident Reporter.) WELLINGTON, Friday. The trade balance, as shown by the monthly abstracts of statistics issued by the Government Statistician, is still against us, the figures to March 31 revealing imports over exports of £2,510,332. Values are down/ in every case but frozen lamb, and values per unit are down in every case.

Exports for the. year ended March 31,. 2927.” the report says, "amounted o £45,682,338, and imports to £48,192,670, leaving an excess of imports of £2,510,332. The figures for the previous financial year were: Exports, £48,697.587; imports, £53,025,856: excess of imports, £4,328,269. The Dominion's position, therefore, for 1926-27 is £1,817,973 better than it was in 1925-26. As showing the trend operating to restore the equilibrium of the Dominion’s trade balance, which has been disturbed by falling export prices, it is worthy of note that imports for the March quarter of 1927 are down by £1,696,893, as compared with the corresponding period of 1926. Exports show a drop of £3,015,249, due in the main to lower prices received. The declared value of wool exported was £1,368,451 less than 192526, although 21,695 more bales were shipped in 1926-27. Butter shows an increase in quantity of 81,706 cwt and a decline in value of £334,990. Notable increases in quantity were also recorded in cheese, 167,887 cwt; frozen lamb, 147,507 cwt; calf-skins, 83,002; sheepskins without wool, 1.713,769; sheepskins with wool, 258,308; coal, 50,804 tons: seeds, ll,3G3c\Vt: fresh apples, 24.182,3121 b; potatoes, 16,583 tons.

The principal decreases in quantity appear in frozen beef, 297,991 cwt; frozen mutton, 26,247 cwt; dried milk, 3,418,3001 b; rabbit-skins, 3,060,661; sawn timber, 8,846,040 sup. ft.; kaurigum, 966 tons; tallow, 5,153 tons. With the exception of apples and potatoes, which show increases of £313,592 and £l2 3,840 respectively, values generally show a decrease all round, the principal (other than wool and butter, already given above) being as follows: Frozen beef, £493,315; frozen mutton, £666,797; frozen lamb. £301,424; cheese, £55,435; hides, £82,040; sheep-skins without 'wool, £236,837; tallow, £196,897; kauri-gum, £113,085; sawn timber, £106,355; dried milk, £121,927. DIVIDED SEASON

“It is well known that March years split the export season, so that the figures for any given March year usually contain the produce of the end of one season and of some part less than the whole of the following season. This is not so pronounced in the case of wool and frozen meat, the greater part of which is shipped by the end of March. It is applicable, however, in the important items of butter and cheese, a considerable quantity of which is Exported after March. “'The quantity of frozen beef exported dropped to about one-sixth of the shipments for the previous season, while a substantial decline is also evident in frozen mutton. Wool shows a slight recession, while moderate increases are revealed in butter, cheese and frozen lamb. Values recorded are down all round except in the case of frozen lamb, which shows a moderate increase. Values per unit are down in every case,- the percentage of the de dines being as follows: Butter, 14; cheese, 18; wool, 1: frozen beef, 15; frozen mutton, 18; frozen lamb, 7. DECLINE IN IMPORTS

Imports for 1926-27 are down by £5,167,186 as compared with the previous year.

The principal declines are evident in motor vehicles, £1,104,657; tyres, tubes and covers, £208.318; cotton piece-goods, £564,945; apparel and ready-made clothing, n.e.i., £185,018; drapery n.e.i., £129.051; boots and shoes. £114,988; bags and sacks. £134,267; timber, £271,889; wheat. £213,326; sugar, £115,095; whisky, £99,577; tobacco, £168,863; musical instruments, £108,447: miscellaneous items, £1,544,703.

‘‘The most notable increases occurred in flour, £330,071: hardware, cutlery and metal manufactures, £391,106; motor spirit, £120,431; phosphates, £146,147: telephones and accessories, £259,819.