BALANCE OF PAYMENTS
Smaller Surplus In April
New Zealand's overseas exchange transactions resulted L. a surplus of £5 0m of receipts over payments in April this year, compared with a surplus of £5.9m in April last year. An improvement of £s.lm in export receipts was off-set by an increase of £4.7m in payments for private imports. The main factors in the increased export receipts were improvements of £3.tai in earnings from meat and £l.Bm in earnings from wool. For the year ended April, a surplus of £2BAm, compared with £6.5m the previous year, is shown in the transactions.
The favourable trade balance improved from £3l 5m to £ 64.6 m. the invisible balance worsened from a £ 51.0 m deficit to a £ 56.3 m deficit and the capital account surplus was reduced from £ 26.0 m to £ 22.0 m. Details of transactions in April are given as follows by the Reserve Bank: Receipts Exports—
April 1963 1962 £m £m Butter .. 4.2 4.2 Cheese 1.3 1.5 Meat .. 9.7 6.1 Wool .. 12.3 10.5 Other .5.4 5.5 Other current receipts 3.5 2.2 Capital receipts .. 0.4 0.7 ■ 1 ■ ■■ Total receipts 36.8 30.7 Payments Imports— Govt. .. 2.7 2.3 Private 20.3 15.6 Other current payments— Govt. 1.5 0.1 Private 6.6 5.9 Capital payments— Govt. 0.3 0.6 Private 0.4 0.3 ■ ■ ■ ■ ■ I Total payments 31.8 24 8 — —— Balances— Trade + 9.9 +9.9 Invisible 4.7 —3.8 Current acc. +6.0 Capital account —0.2 —0.2 Over-all +5.0 +5.9
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Bibliographic details
Press, Volume CII, Issue 30147, 3 June 1963, Page 9
Word Count
233BALANCE OF PAYMENTS Press, Volume CII, Issue 30147, 3 June 1963, Page 9
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