BALANCE OF PAYMENTS
Big Improvement In July Year
(New Zealand Press Association) WELLINGTON, August 25. Overseas exchange transactions show that during the year ended July 31, 1959, there was a surplus of £39.7m in New Zealand’s overseas exchange transactions, including £ 17.2 m of net official overseas borrowing. The surplus compares with a deficit of £45.8m after allowing for £ 19.1 m of net official overseas borrowing, for the year ended July. 1958 Total receipts, as compared with those for the year ended July, 1958, increased by £36.2m to £355.3m.
Payments for private .imports fell £55.3m, nearly 21 per cent. July Figures Compared
A surplus of £4.lm was recorded for the month of July compared with a surplus of £5.5m in July, 1958. Export receipts rose £l.9m due mainly to higher receipts for butter, wool, and meat.
Receipts other than for exports in July, 1958, included £4.Bm of Government overseas borrowing. On the payments side the significant change compared with July, 1958, was a fall of £2.4m in payments for private imports.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19590826.2.188
Bibliographic details
Press, Volume XCVIII, Issue 28983, 26 August 1959, Page 17
Word Count
170BALANCE OF PAYMENTS Press, Volume XCVIII, Issue 28983, 26 August 1959, Page 17
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in