DROP IN EXPORTS

Waikato Times, Volume 124, Issue 20728, 11 February 1939, Page 12

DROP IN EXPORTS

OVER £8,000,000 LOWER IMPORTS DOWN £739,000 Exports during December weri £689,000 lower in value than for tht corresponding month in 1937, a: shown by a preliminary return o overseas trade issued by the Custom: Department in Wellington yesterday The 1937 figure was the highest fo: any December since 1933, but that fo: December last is the lowest in th< past six years with the sole excep lion of 1934. Imports at £4,765,000 were th< highest for any December in the pas six years, the value being more thai double those in the corresponding month of 1933. For the calendar year exports an £8,337,000 lower in value comparet with the figure in 1937. Exports ii that ir were at an abnormally higl level, so that, in spite of the subsequent fall, the value for the year jus end-d is greater than for any 1: months from 1933 to 1936 inclusive. Balance of £2,954,000 Imports, while £739,000 lower las year than in 1937, are otherwise th( highest in the past six years. The visible commodity balance o £2,954,000 for 1938 is by a wide margin the smallest since 1933, the mos s . - comparison being with the balance of £16,003,000 in 1934. For the first six months of the production year, which opens in July, exports are £3,344,000 lower than foi the corresponding period of the preceding year. Imports are £2,121,001 lower, but still very much greater than for the corresponding portion oi the production seasons from 1933 tc 1936. Consequently an excess of imports over exports valued a! £7,244,000 is very much greater that in any similar period to 1934, and if in marked contrast with the £4,697.000 excess of exports recordec in 1933. During December exports of specie were valued at £18,305 and imports amounted to £1357. For the year ended December 31 exports totallec £31,805 and imports £31,274.