Trading figures improve
Higher prices for meat and wool, and the growth of manufactured exports gave New Zealand a surplus on trade transactions of S74OM for the year ended in May — an improvement of S3B2M on the same period last year. However, the deficit on invisible payments (freight, insurance, interest, and the like) rose $255M to $1125M, leaving an over-all current-account deficit of S3B4M, compared with SSI2M last year. Imports for the period rose 9 per cent to $8312M. Da i r y-product receipts declined. While invisible receipts rose 11 per cent to SB3SM, this was more than offset by the 21 per cent increase in invisible payments, which rose from $1623M to $1959M. Capital transactions for the year resulted in a net inflow of $456M, comprising a net official capital inflow (including IMF transactions) of $557M, partially offset by a private capital outflow of SIOIM. Comparable figures for the previous year are SSB9M, $325M, and $264M. The official reserves at the end of the period were 51044 M.
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Press, 11 July 1979, Page 10
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169Trading figures improve Press, 11 July 1979, Page 10
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