BALANCE OF PAYMENTS
DEBIT BALANCE OF £66 000,000 BOARD OF TRADE RETURNS (United Press Assn.—Elec. Tel. Copyright) LONDON, Feb. 22 The Board of Trade's estimate of the balance of payments in 1938 shows a debit balance of £55.000,000. compared with £56.000,000 in 1937, and £18,000.000 in 1 936. There were all-round reductions in the estimated net receipts from invisible exports—the national shipping income from oversea investments helm* shown at £200,000.000. against £210,000,000. On the other band the excess of imports over exports was £387,900.000. compared with £431,300,000 in 1937, while the net import of silver of £10.500,000 in 1937 was replaced last year by a not import of more than £11,000.000.
The board's index of Industrial production in 1938 was 6.4 per cenL lower than in 1937. This decline follows five years of continuous expansion. Tlie most important groups showing falls were:—iron and steel, textiles and
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Waikato Times, Volume 124, Issue 20739, 24 February 1939, Page 7
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146BALANCE OF PAYMENTS Waikato Times, Volume 124, Issue 20739, 24 February 1939, Page 7
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