Trans-Tasman trade balance tips N.Z.’s way

Press, 30 July 1986, Page 13

Trans-Tasman trade balance tips N.Z.’s way

By

CHRIS PETERS NZPA staff

correspondent Sydney

While the Australian Government wrestles with the falling dollar and a burgeoning import bill, Tasman trade has now been in New Zealand’s favour for the last four months on end.

Trade officials in Sydney are eagerly awaiting the latest figures for the full June year — Australia’s financial year — which could show the balance of trade actually tip in New Zealand’s favour.

Officials point out that New Zealand exporters are making inroads into the Australian market in spite of the weak Australian dollar which is making all imports more expensive. The latest figures from the Australian Bureau of Statistics are for May, and they show New Zealand sold sAustl24.6 'million ($148.27 million) worth of goods to Australia in that month while Australia sent only sAustl2o.6 million ($143.5 million) worth of exports the other

way. In the full 12 months to the end of May, New Zealand exports to Australia totalled sAustl.4s billion ($1.72 billion) while Australian sales the other way totalled sAustl.s billion ($1.78 billion), a ratio of 1:1.04 in Australia’s favour. New Zealand has been trimming the Australian advantage back inexorably year by year, and in three of the last four months — February’, April and May — the trade has actually been in New Zealand’s favour, while in March it was level at dollar for dollar.

The improvement in New Zealand’s position is clear when the figures for May this year are related to those of May, 1985, when exports to Australia were sAustlo.4 million ($12.3 million) less. In the year to May, 1985, New Zealand sales to Australia were sAustl.oB billion ($1.28 billion) compared with sAustl.4s billion ($1.72 billion) this year, and Australian sales to New Zealand were slightly above those of this year.