Private imports down 10 p.c.

Press, Volume CXVI, Issue 34107, 20 March 1976, Page 16

Private imports down 10 p.c.

Private imports during January have fallen 10 per cent on January. 1975. according to provisional figures prepared hy the Deputy Government Statistician (Mr L. C. Neilson). However, orders placed by firms in the Statistician’s survey were up by 73.3 per cent. Mr Neilson said that the firms surveyed were responsible for about halt the country’s private imports. The value of private imports for January. 1976. was

5208.8 m. compared with $234.3m in January. 1975. This 10 per cent reduction reflected a much greater reduction in volume. However, orders placed by surveyed firms in January, 1976, were worth $117.0m compared with $67.5m in January last year. The provisional figures for private imports in January. 1975. were also unusually liw. New Zealand importers *ad been unexpectedly caught ’n the second half of 1974 i hen overseas demand for Many of the good* importers , tad on order suddenly col-

lapsed, and long-standing orders had been shipped to I New Zealand over a very short period. This created a very low level of ordering, so that the increase of 73.3 per cent in orders placed in January, 1976. was not as dramatic as it appeared. The greatest increases in , orders for January, 1976. were for food beverages and tobacco, and machinery and , transport equipment. Spokesmen for these importing firms in Christchurch said yesterday that their i orders and receipts fot the month had not increased, and 1 had in some cases fallen.

Importers of earthmoving machinery imported to demand. one manager said. At present demand was slackening “If the increase in orders is as big as the Department of Statistics says, then it has all been going to the North Island.” he said. “We have not seen any of it.” The increase in the value of some food imports could be explained in the light of increased prices for sugar and tobacco, a food importer ( said. Goods already pro- , messed would not account for , it. ' |l