IMPORTS SHRINK

Auckland Star, Volume LXXVI, Issue 164, 13 July 1945, Page 3

IMPORTS SHRINK

DOMINION'S TRADE

GENERAL DECLINE SEEN

In comparison with the corresponding month last year the Dominion's trade in May showed a decline of £4,743,000 to £11,034,000. This was Cue entirely to a marked drop in imports during that month from £9,645,000, highest of the war years, to £3,916,000. As a result the excess of imports in May, 1944, of £3,513,000 has been almost reversed, the excess of exports last Mav being £3,202,000. The figures, expressed in New Zealand currency, were forwarded by the Customs Department, Wellington, to-day. They include defence materials and equipment and lend-lease supplies, but exclude reverse lend-lease supplies. Following is a comparison of the May returns in the past five years:— Exports Imports Excess £ £ £ 1941 6.644.000 5.536,000 1.108.000 1942 7.450,000 4,926,000 2.524,000 1943 7,867,000 7,358,000 509.000 1944 6,132,000 9,645,000 °3,513,000 1945 7.118,000 3,916,000 3,202,000 * Excess of imports The main feature of the returns for the first five months of the year is also a heavy decline in imports— from £32,469,000 over the period last year to £21,218,000 this year. After years in which the imports exceeded exports, there is a favourable balance of over £10,000,000. The figures for the five months ended May 31 in the past five years compare as follow:— Exports Imports Excess 1941 . -31.344,000 18,374.000 12.970.000 1942 32.191.Q00 18,566,000 13,625.000 1943 ...... 29,089.000 34,661,000 "5.572.000 1944 30,731,000 32,469,000 »1,738,000 1945 31,521.000 21,218.000 10.303,000 * Excess of imports A similar trend is observable in the figures covering 11 months of the production year which began in July, 1944. Over this period there has been only a slight reduction in exports, but imports have fallen £21,785,000 to' £62,999,000. The exports for 11 months of the production year, which ended on June 30, are:— Exports Imports Excess ■M•...'£ £ '" £ ■ 1940-41 60.453.000 -.'- 43,502.000 17.951,000 1941-42 . ... 63.014,000 45-.675.000 17.339.000 1948-43 ... 62,931.000 58,168,000 4.763,000 1943-44 ... 68.937.00U -84,784.000 '■15.857,000 1944-45 ..-. 67.208.000 62,999.000 4,209,000 * Excess of imports