BETTER TRADE BALANCE

Dominion, Volume 18, Issue 271, 21 August 1925, Page 8

BETTER TRADE BALANCE

EXCESS OF EXPORTS WOOL AND FROZEN MEAT LEADING ITEMS BRITAIN OUR BEST CUSTOMER Br Telegraph—Press Association Auckland, August 20. The latest trade figures, showing the remarkable fertility of New Zealand and the industry of its people, were quoted by the Hon. G. J. Anderson, Acting-Minister for Industries and Commerce, in his address at the opening ceremony of the Auckland Winter Exhibition to-day. The Minister gave the following trade figures for the first seven months of this year, the •figures for the corresponding period of last vear being given in parentheses; —Total exports, £40,475,825 (£36,<363,073) ; total imports, £29,341,324 (£26,802,003) ; excess of exports, £11,134,501 (£9,561,070). It would thus be seen, said Mr. Anderson, that both exports and imports this year l.*ld increased as compared with the ' figures for the corresponding period of last year, but that this year there was a better trade balance in favour of New Zealand. For the year ended July 3L 1925, the exports totalled in value £56,725,463, against £48,605,551 for the year ended Julv 31, 1924. Imports amounted to £51,066,924, against £45,532,484. The excess of exports for the year just closed was £5,658,539, compared with an excess of £3,073,067 for the corresponding period last year. The Minister said that the increased exports for the first seven months, of this vear were mainly due to the increased value of wool exported, which showed an increase of £2,773,000 over the figure for the first seven months of 1924, and of frozen meat, which showed an increase of £1,082,097. Sheepskins showed an increase of £493,215. Tlie volume of butter exported had increased slightly, but the value had decreased, while cheese exports had declined both iti quantity and value. The main lines of imports showing greatly increased value were motoi vehicles and accessories, which gave an increase of £838,438, and apparel, drapery, and textiles, which had increased by £45,000. The value of timber, manures, sheet iron and tea had also greatly increased. “The Motherland takes the bulk of our exports,” concluded the Minister. “During the first seven months of the year the. United Kingdom had taken 80 per cent, of the exports, valued at £32,309,228, while New Zealand took 49 per cent, of her imports from Britain. Australia took 4 per cent, of the Dominion’s exports and the United States 8 per cent. From Australia came 10 per cent, of imports and from the United States 15 per cent., largely motor-cars.