EXPORTS LOWER

Waikato Times, Volume 125, Issue 20992, 20 December 1939, Page 14

EXPORTS LOWER

RETURNS FOR NOVEMBER COMPARISON FOR 11 MONTHS MORE FAVOURABLE BALANCE Exports during November were valued at £3,229,000 in New Zealand currency, or £1,157,000 less than in the corresponding month last year, as shown by the preliminary return of overseas trade issued by the Customs Dep/.rtment in Wellington yesterday. Imports at £2,381,000 were £1,902,000 lower than in 1938. The reduction of imports under the influence of control and exchange rationing has more than counterbalanced the fall in exports, leaving an excess of exports amounting to £348,000, compared with £397,000 excess of imports in November last year. For the 11 months of the calendar year, ended with November, exports at £-1,571,000 were at a very similar level to those during the corresponding part of the previous year. The difference amounts to £77,000. Imports for the same period were £4,322,000 lower than in 1938. As a result the visible favourable balance of trade for the 11 months has risen to £8,236,000, as against £3,991,000. It is thus back to a level comparable with those of 1935, 1936 and 1937. Following is a summary of the returns for the first 11 months of the

past seven years Excess or 11 Exports Imports Exports Months £ £ £ 1933 36,891,000 23,370,000 13,521,000 1934 44,750,000 28,583,000 16,212,000 1935 42,616,000 33,103,000 9,513,000 1936 52,431,000 39,842,000 12,589,000 1937 62,296,000 51,552,000 10,744,000 1938 54,648,000 50,657,000 3,991,000 1939 54,571,000 46,335,000 8,236,000