£15m SURPLUS FOR YEAR
June Ralance Of Payments
(New Zealand Press Association) WELLINGTON, July 28. A surplus of £lsm was recorded in New Zealand's overseas exchange transactions for the year ended June, 1960, compared with a surplus of £4lm for the previous year. The net overseas assets of the banking system rose from £ 98.9 m on July 1, 1959, to £ 118.7 m on June 29, 1960, an increase of £ 19.8 m. The discrepancy between this increase and the over-all surplus of £lsm is explained by differences in timing and exchange valuation, says the Reserve Bank tonight Overseas exchange transactions for the last three years are as follows: YEAR ENDED JUNE
Receipts £m 1958 £m 1959 £m 1960 Butter ». 37.5 51.9 59.9 Cheese 13.9 22.7 19 2 Meat 71.9 79.6 74.7 Wool 87.3 86.9 111.5 Other 46.0 48.7 55.9 Total exports 256.6 289.9 321.1 Other receipts 55.3 69.4 38.4 Total 311.9 359.3 359.5 Payments Government Payments— Debt interest 3.7 4.9 5.5 Imports 32.6 27.3 22.4 Other 15.6 15.9 30.9 Private imports 270.5 211.5 337.2 Other payments 49.2 58.6 58.6 Total payments 371.6 318.3 344.5 Balance —59.7 + 41.0 15.0
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https://paperspast.natlib.govt.nz/newspapers/CHP19600729.2.102
Bibliographic details
Press, Volume XCIX, Issue 29269, 29 July 1960, Page 12
Word Count
187£15m SURPLUS FOR YEAR Press, Volume XCIX, Issue 29269, 29 July 1960, Page 12
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