OVERSEAS TRADE

Press, Volume LXXXIV, Issue 25550, 19 July 1948, Page 3

OVERSEAS TRADE

DECREASE IN MARCH FIGURES FOR FIRST QUARTER OF YEAR (P.A.) WELLINGTON, July 17. Statistics of New Zealand’s overseas trade for the first quarter of this year and the 12 months ended March, 1948, were announced by the Minister of Customs (Mr W. Nash) in a statement to-day. The values of both imports and exports for March were lower than the preceding month, imports amounting to £9,773,000 and exports to £13,780.000. These values were respectively £1,200.000 and £5,525,000 less than those for February, the imports being less as a result of the policy for greater conservation of overseas funds. It was not to be expected that the February export record of £19,305.000 would be maintained during March, continued the statement.

Both imports and exports for the first quarter of this year exceeded those for the corresponding period in 1947 by approximately £10,000,000 each. Comparing the two years ended March. 1947, and 1948. the exports over the latter period exceeded those in 1947 by £32.689,000, and imports by £56,595,000.

The favourable balance of exports over imports for the same periods were £25,642,000 in 1947 and £1.736,000 m 1948. For March. 1948. the favourable glance amounted to £4.007,000, and for the first quarter of this year it was £9.808.000. in spite of substantial excess of imports during the month.of January. In the following table the values are expressed in New Zealand currency and import values include defence materials and lend-lease supplies:— Excess

Exports. Imports. Imports. ' £ £ £ Meh., 1948 13,780,000 9,773,000 4,007.000 Meh., 1947 14.306.000 10,142,000 4.164.000 Meh., 1846 7,767,000 5.730,000 2.037,000 Three months ended: Meh., 1948 44.885,000 35,077,000 9,808,000 Meh., 1947 34,165,000 25,411,000 8,754,000 Meh.. 1943 28,035,000 15,250,000 12,785,000 Twelve months ended: Meh., 1948 140.123.000 138.390.000 1,736,000 Meh.. 1947 107,437,000 81,795.000 25,642,000 Meh., 1946 89,966,000 56.988,000 31,798,000