EXPORT SEASON OPENS WELL

Auckland Star, Volume LXXIV, Issue 294, 11 December 1943, Page 4

EXPORT SEASON OPENS WELL

THE trade figures for October disclose a far more favourable position than seemed possible under the climatic conditions of the late winter and spring. Dates of shipment may have had some effect upon the exports total, but making allowance for that the figure is surprisingly high, standing at £7,201,000, double that of the average of the same month in previous years. During the calendar year the export figure shows a drop on last year, accountable partly by the added consumption of our products by servicemen in the country, but the figure stands well above the average of earlier years. Exports in the production year, which begins in July, are almost up .to .the total of last an exceptionally favourable one, and with more butter available for export as a result'of the rationing restrictions we may expect very good figures for November and December. The import figures for the month reflect a big drop as compared with last October, but for the calendar year they show an excess of £22,088,000 over exports, the first time for many years that so large an adverse balance has been recorded. Judging by the bare condition of the retail markets, the excess may be due more to Government importations of steel, machinery and munitions than to the general trader. Cargoes which had been delayed in transit and had accumulated overseas have come forward this year, and this no doubt has raised the figure to its total of £81,990,000, against the £42,363,000 of last year. Most of the imports have, of course, been high in price because of shortages and heavy freights and insurances. It is to be hoped that the materials and goods brought in on Government account will be used before there is a heavy drop in costs, which will certainly come with the peace.