FALL IN EXPORTS.

Auckland Star, Volume LXXII, Issue 88, 15 April 1941, Page 4

FALL IN EXPORTS.

DOMINION'S TRADE.

IMPORTS AT LOW LEVEL

Reviewing business in February, the "Abstract of Statistics" states that statistical indicators of the trend of conditions were affected to a certain extent by the transfer of funds consequent upon the payment of income tax and local authority rat-es, and by the short working month. A further factor that had to be taken into consideration was the effect of the difficult shipping position on external trade. Although the farm production season had been a good one, both dairy and meat production to date being substantially ahead of the corresponding period of the previous season, the value of exports for January and February was £1,703,034 below the total for those two months in 1940. Of the more important export commodities, substantial decreases were recorded for butter, frozen lamb, mutton and pork, and woolly sheepskins, while cheese, frozen beef, sheepskins without wool, and wool showed increases. Imports during the first two months of 1941 dcclincd to an even greater extent than exports, the total beins: £5,045.043. against £7,329,626 in 1940.

Despite the decline in external trade, the average weekly value of bank debits in February showed a slight increase on the figure for February last year, while the fall in imports was reflected in a further sharp rise in overseas funds, the amount held on February 24 being the highest recorded since Auirust, 1937. Deposits on current account continued to rise, the average for February being 10.7 per cent aibove that for the same month last year.

Imports Only £1,961,187. The recorded value of merchandise exports in February was £5,959,725. a decrease of £811,552 below the January total, and of £2,154,910 below the total for February, 1940. The figure for the latter month, however, was a particularly high one.

Imports during February were on a very low scale, the declared value, £1,901,187, being less than in'any otlier month since June, 1934. In January imports were valued at £3,083,856, and in February, 1949. at £3,346,731.

For the first two months ot 1041 the value of exports totalled £12.731.002, while imports amounted to £5.045.043 only, an esport surp'us of £7,685.959 emerging: as a result of two months' external trading in commodities. Oomparable figures for the same period in 1040 were:—Exports, £14.!34.030; imports, £7.329,626; excess of exports. £7.10"),310: and for a similar period in 103fl. exports. £12,383,440: imports, £9.518,110 ; ex .'ess of exnorts. £2,565,300.

Following are the values of the principal items exported durinc the first two months of 1041, with the comparable fiffure-s for Inst year in parentheses: — Butter. £3.003.50? ( £3,Xr,.K2): cheese. £1.929.691 ( £1..t8!).7.>1); frozen beef. £291.100 f £131.6401; frozen lamb, £1.457.967 (£2.710,4201 [; frozen mutton. £40.454 ( C 261.9851; frozen pork, £251.752 (£352.1241; woolly sheepskins. .CIS.IST (£171.729); sheeosl iins without woo'. £267.737 (£137,569): wool. £4.173.035 (£4,026,237).