N.Z.'S TRADE POSITION

Sun (Auckland), Volume IV, Issue 1068, 4 September 1930, Page 8

N.Z.'S TRADE POSITION

VALUES OF IMPORTS AMD EXPORTS LAST YEAR’S FIGURES THE SUN’S Parliamentary Reporter PARLIAMENT BLDGS.. Wed. Increases in the exports to British countries, and a slight fall in imports from British countries, aro shown in the annual report of the’ Industries and Commerce Department, presented to Parliament today. Increased importations from the United States seem to account for the increase in foreign imports. “March 31. 1930.” says the report, “marks the close of a year in which as far as overseas trade is concerned, there were two outstanding features namely, a more or less continuous fall in the prices of some of our principal primary products in the world’s markets. and a substantial increase in importations of all kinds of commodities. The result has had a marked effect upon economic conditions within the Dominion, and in particular upon our trade balance, and our banking figures. The decline in the total value of our exports especially provides eloquent evidence of the effect that prices have on the spending power of the community, and on the general prosperity of the country. “The value attained for our exports was £ 49,045,817. which compares wfth £ 57,154,343 and £54.962,031 for the years 1929 and 1928 respectively. The imports, on the other hand, totalled £49,167.914 during the past year, as compared with £45.105.865 for the year ended March 31. 1929. and £44.419.357 for the year ended March 31. 1928. The net result for the past financial year is therefore an excess of imports amounting to £122.097. which compares with excesses of exports amounting to £12.048,478 and £10,542,674 for the two previous years respectively. CALENDAR YEAR FIGURES “Taking the figures for the past calendar year, with which it is usual for this annual report to deal, reveals a considerably njore favourable position owing to the fact that most of the decrease of £8,108,526 in the value

of our export’s for the year ended March 31. 1930. occurred during the March quarter, when the greater pan of our seasonal primary produce was marketed. The exports for the calendar year 1929 totalled £55.579,063. the second highest figure ever attained, and the imports aggregated £48,797,977 —giving a favourable trade balance of £6.781,086. The first feature that is noticed in regard to the figures for 1929 is that, in spite of the reduced total value as compared with 1928, the exports to British countries show a pleasing increase of £202,929. Exports to foreign countries, on the other hand, reveal a decrease of £812.347. Other noteworthy features that may be briefly mentioned are the increase in 1929 of £446,727 in exports to the United Kingdom, the increase of £SS4 825 in exports to Canada, and decreases of £606,988 and £64,494 in exports to the United States and Australia respectively. For several years past the proportion of our trade with the United Kingdom has been steadily declining. but in 1929 there was a welcome increase as compared with 1920, the percentage rising from 72.09 in the latter year to 73.69 in the former. The proportion of our trade conducted with Canada has been steadily rising year by year, while on the other hand the percentage that the trade with Australia represents in regard to the total export trade has shown a declining tendency. The percentage claimed by the United States fell from 7.58 per cent, in 1928 to 6.57 per cent, in 1929. BRITISH AND FOREIGN TRADE “Trade with all British countries represented 85.39 per cent, of the total exports in 1929, as compared with 84.10 per cent, in 1928. On the other hand, our export trade with foreign countries fell from 15.90 per cent, in 1928 to 14.61 per cent in 1929. “The val.ue of imports in 1929 was considerably in excess of the value for 1928, the actual increase being £3,911,711. This occurred through the larger importations of four main items. These comprised motor vehicles, which increased from 18,787, valued at £2,766.919 in 192 S to 29.147 valued at £4.278.924 in 1929. an increase of 10,360 in number and £1.512.005 in value; petrol and kerosene, increased by 9,788,795 gallons and £523.624 in value: motor-tyres, whicn increased by £198,637. and silk piece goods, which increased by £210,076i “The figures for 1929 show increases in all countries except India. Australia, Fiji and France. Of these India showed only a small decrease, while Fiji. Australia and France showed decreases of £396.830. £240,872 and £95.455 rcSDectivelv. The largest increases in imports that took place in 1929 as compared with 192 S were in respect ot Canada. £1.528.077. the United Kingdom £1.278.714. and the United States, £1.122.969. Of our total importations in 1929. 67.51 per cent, came from British countries and 32.19 per cent. fron foreign countries, as compared wi 65.64 per cent, from British and per cent, from foreign sources in previous, year. Increased importations from the United States appear to ac _ count for the increase in proportion aerived from foreign sources last year. TRADE WITH THE EAST

“Japan is the principal buyer of otm products in the East, of which the nt important is wool. Indeed, this it® forms a large proportion of the aggregate value of all exports to Asiaug countries. In 1925 our exports of to Japan amounted to £214,736. in 1 - to £118.738. in 1927 to 1928 to £588.266. and in 19- y ~ £339,126. Our markets in the Last a , already valuable, but their value is infinitely greater and the isation of this on tlie part of oU Fp r _ porters is shown, by awakening * est in the possibilities of the <Je ment of this trade. The importa ic New Zealand as a market for a • commodities and as a supplier o a tain products for which ther ? growing demand is shown too zC j S interest which Japan, for mstan • l 0 taking at the present time r fr. the development of trade with tn a minion. The recent appointmen trade commissioner for Japan in Zealand and the proposals oi c Japanese shipping lines for an d sion of their services to >ew glare indications of the importan tached to development of new a , uid isting markets. Our exporters sn take heed of the possibilities oi kets in the East and explore the fullest extent.”