LOWER EXPORTS

New Zealand Herald, Volume LXXVI, Issue 23269, 11 February 1939, Page 14

LOWER EXPORTS

£8,000,000 FALL IN YEAR IMPORTS DOWN £739,000 VISIBLE BALANCE £2,900,000 THE PRODUCTION SEASON Exports during December -were £089,000 lower in value" than for the corresponding month in 1937, as shown by a preliminary return of overseas trade issued by tho Customs Department in Wellington yesterday, ihe 1937 figure was the highest for any December since 1933, but that for December last is tho lowest in the past six years with the sole exception of 19;34 - , , Imports at £4,765,000 wore the highest for any December in tho past six years, the value being more than double those in tho corresponding month of 1933. Six Years Compared Following is a' comparison of the returns for December in the past six years, values being of commodities only, with specie omitted, expressed in New Zealand currency:— Excess of Exports Imports Exports Dpr £• £ £ I'KJfJ 4,110,000 2,211,000 1,004.000 1031 2,503,000 2,791,000 108,000* 1035 3 022,000 3,214,000 708.000 mi; 4,322.00(1 4.201,000 28,000 ] IKiT 4,417,000 4,008,(MX) Ho-'nno* I'JIiS 3,728,000 4,70"),000 1,03/.000 * Excess of imports. For the calendar year exports are £8,337,000 lower in value compared with the figure in 1937. Exports in that year were at an abnormally high level, so that, in spite of the subsequent fall, tho value for the year just ended is greater than for any 12 months from 1933 to 1936 inclusive.

Imports, while £739.000 lower last year than in 19.37, are otherwise the highest in the past six years. The visible commodity balance of £2,954,000 for 1938 is by a wide margin the smallest since 1933, the most striking comparison being with the balance of £16,003,000 in 1934.

Following is a comparison of the returns for the past six calendar years: —

Excess of Exports Imports Exports £ £ £ 2033 <11,000,000 25.582,000 2 5,425,000 11)34 4 7,343,000 31,310,000 10,003,000 103.5 40,538,000 30,317,000 10,221,000 2936 56,752,000 41,259,000 12,493,000 1037 06,713,000 50,161,000 20,552,000 293S 55,370,000 55,422,000 2,954,000 The Production Season

For the first six months of the production year, which opens in July, exports are £3.514.000 lower than for the corresponding period of the preceding year. Imports sire £2,121.000 lower, but still very much greater than for the corresponding portion of the production seasons from 1933 to 1936. Consequently an excess of imports over exports valued at £7,244,000 is very much greater than in any similar period to 1934, and is in marked contrast with the £4,697,000 excess of exports recorded in 1933. The figures for the period compared with those in the preceding five years are: — Excess of July- Exports Imports Imports Dee. £ £ £ 1033 17,044,000 12,407,000 *4,097,000 2 934 25,84-1,000 27.553.000 1,739.000 1935 29,429,000 19.570,000 141,000 1930 22,521,000 21,273,000 1,752,000 1037 24,013,000 30,134,000 5,822,000 193S 22,069,000 28,313,000 7,244,000 ♦Excess of exports. During December exports of specie were valued at £18.305 and imports amounted to £1357. For the year ended December 31 exports totalled £31,805 and imports £31,274.