A BIG DROP.

Taranaki Daily News, 6 September 1921, Page 5

A BIG DROP.

HEAVY REDUCTION IN IMPORTS. DECREASE FOR JULY OVER THREE MILLIONS. A substantial move in the direction of restoring the balance of trade is disclosed by the Government Statistician’s figures of imports for July, published in the August number of the Monthly Abstract. The total imports for July, 1920, were £5,143,698.

The total imports for July, 1921, were £1,856,252.

This is equivalent to a reduction of 63 per cent.

A more remarkable position, however, is disclosed by an examination of the figures for the clothing and drapery and soft furnishing trades, where an extraordinary shrinkage from £1,016,507 for July, 1920, to £178,650 for July of this year, is shown to have taken place, so that £837,857 worth less goods reached us in a period of only four Weeks—a reduction of 82.43 per cent. Giving evidence before the Arbitration Court in Wellington last week, a proprietor of a large business stated that his losses “ran into thousands”, while the director of another important retail establishment said that “the auditor’s figures showed that the past twelve months’ trading had been disastrous.”

A drastic readjustment of the position would appear to be taking place when the figures appended below are examined. The following tabulation of the twelve items under which imports of clothing, furnishing and general drapery goods are enumerated •> the Monthly Abstract by the Gove; Statistician shows the remarkable . auction in the value, and, it may be assumed, in the quantity of every class of soft goods:

Totals £1,016,507 £178,650 The figures given in the Monthly Abstract represent the Home invoice cost, and do not, of course, include freight, insurance, landing charges or Customs duty.

Apparel 139,303 40,490 Boots, shoes and slippers ,j 154,119 8,977 Carpeting, mating, oilcloth 62,344 20,148 Drapery, n.o.e. 27,166 6,714 6,364 Hats and caps . ..j... 26,611 Hosiery 41,950 9,401 Millinery 18,029 11,062 Textile piece goods— Canvas 20,931 1,018 Cotton 321,167 37,654 Linen 11,767 329 Silk 94,644 11,648 Woollen 98,486 24,845