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1931. NEW ZEALAND.

DEPARTMENT OF INDUSTRIES AND COMMERCE (FOURTEENTH ANNUAL REPORT OF THE).

Presented to both Houses of the General Assembly by Command of His Excellency.

Your Excellency,—- Wellington, 10th August, 1931. I have the honour to submit for your Excellency's information the report of the Department of Industries and Commerce for the past year. I have, &c., P. A. de la Perrelle, Minister of Industries and Commerce. His Excellency the Governor-General of the Dominion of New Zealand.

g IEi Wellington, 6th August, 1931. I have the honour to submit the annual report of the Department of Industries and Commerce. Early in 1930 the Department was amalgamated with the Department of Tourist and Health Resorts, but, following previous practice, separate annual reports are submitted. This report deals with the work of the Department since the previous report was placed before Parliament, and covers generally the period ended 30th April, 1931. I have, &c., G. W. Clinkard, Secretary. The Hon. P. A. de la Perrelle, Minister of Industries and Commerce.

GENERAL TRADE REVIEW. The returns of our overseas trade for tli{s financial year ended 31st March, 1931, adequately reflect the effects of the severe fall in the prices of the principal primary products and the adverse economic conditions which the Dominion has been experiencing for the past eighteen months. The outstanding features of the overseas trade figures for the year ended 31st March, 1931, are, firstly, a decline of £9,518,033 in the value of our exports, and, secondly, a still greater fall of £10,867,107 in the value of imports, as compared with the figures for the previous financial year. Exports in the respective years totalled £39,527,784 and £49,045,817, while imports in the same two years aggregated £38,300,807 and £49,167,914. The resultant balance of trade for the year ended 31st March, 1931, was' thus an excess of exports over imports of £1,226,977. Although not as large as in normal years, this nevertheless compares more than favourably with an excess of imports over exports of £122,097 for the previous financial year. It was not, however, by any means as favourable as was the balance of trade in either of the years ended 31st March, 1928 or 1929, when the figures were £10,542,674 and £12,048,478 respectively.

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