OVER £2,000,000.

Auckland Star, Volume LXVIII, Issue 3, 5 January 1937, Page 2

OVER £2,000,000.

PAYMENTS OVERSEAS. NEW ZEALAND TOURISTS. ITEMS IIC DEBT CHARGES. (By Telegraph.—Own Correspondent.) WELLINGTON, this day. One of the surprising items in an analysis of New Zealand's overseas payments is a sum of £2.053.000 spent by Nexv Zea landers who were tourists in other countries. The Government Statistician, endeavouring to analyse the Dominion's income and expenditure in this sphere, gives credit lor £706.000 !-pent liy tourists who arrived in New Zcahytd during 193(i. Where the country achieves a substantial credit balance is in its receipts for exported commodities, for during the year ended March 31 these were valued at New Zealand ports, free on board, at £12.23ti.000 more than the merchandise imported during the same period, this being valued at cost in the country of shipment, plus Ift per cent to cover freight and other charges. Freight on the 'country's exported products is a large item, estimated at six millions sterling, and earned mostly by British vessels. This figure does not enter into the statistician's balance. The credit earned overseas was heavily reduced by interest payments to outside investors. Governmental debt involved interest of £.>.*03.000, local body debt cost £03(3.000 and approximately another million was paid on private debts and investments held overseas.