Reserves rise to $82lm
New Zealand’s overseas reserves reached a record $B2l million at the end of October this year—an increase of $299 million in 12 months. The increase was attributable mainly to the record trade surplus of $393 million; last year the trade surplus was only $199 million. Export receipts rose 19 per cent in the latest 12 months, compared with 7 per cent in the previous 12 months. A summary of the overseas exchange transactions released on Thursday by the Reserve Bank is as follows:— . RECEIPTS Yrs ended Oct. 1971 1972
Official overseas reserves at October 31 were $522 milion in 1971, and $B2l million in 1972.
tai tai Current— Exports Other •• .. 1239 .. 228 1471 288 Capital— Govt .. 70 76 Private .. 136 208 S.D.Ks ♦♦ .. 19 19 Total •• .. 1692 2062 PAYMENTS CurrentImports: Govt * M •• 64 56 Private .. 976 1013 Other — Govt 72 Private • • .. 334 .397
CapitalGovt debt .. 23 83 Other official .. 5 3 Private .. 61 95 Total .. 1535 1740 BALANCES Trade .. .. +199 +393 Invisibles .. -179 -192 Current .. .. +20 +201 Capital I.M.F. .. +118 +102 .? +19 +19
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Bibliographic details
Press, Volume CXII, Issue 33083, 25 November 1972, Page 2
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176Reserves rise to $82lm Press, Volume CXII, Issue 33083, 25 November 1972, Page 2
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