Private Imports At $743m For Full Year

Press, Volume CIX, Issue 32053, 30 July 1969, Page 18

Private Imports At $743m For Full Year

(New Zealand Press Association;

WELLINGTON, July 29.

Payments for private imports for the 12 months ended September, 1969, are estimated to total $743m, states the Government Statistician.

This calculation is based on actual private import payments to the end of June, 1969, as released by the Reserve Bank; together with projections, based on the orders and payments survey, for the remaining six months.

Actual private import payments for the previous 12

months—-ended December, 1968—were 5657 m. If for each group of importing firms the lag between orders and payments is the same as for earlier years, and if surveyed firms cover the same proportion of orders and payments, then this survey indicates that private import payments will average S6sm a month from July to September, 1969, and s64m a month from October to December, 1969. Corresponding averages of actual payments a year earlier were S6lm and S62m respectively. Overseas Orders The results of the survey of overseas orders and payments—which cover approximately half of private imports—show that orders placed by surveyed firms in

June, 1969, were valued at 534.8 m compared with $28.7m in June, 1968—an increase of 21 per cent. Orders placed overseas by surveyed firms during the six months ended June, 1969 totalled $199.4m, 16 per cent higher than the $171.5m which was the value of ord-

t era for the six months ended i June, 1968. t Payments made by surveyed firms in the six months * ended June, 1969, amounted : to $170.9m, compared with ■ $138.1m in the correspondt ing period a year earlier. i This represented an in- • creaseof 24 per cent.