trade statistics

Dominion, Volume 22, Issue 12, 9 October 1928, Page 8

trade statistics

AUGUST REVIEW RECORD FOR BUTTER AND CHEESE “Measured by bank debits the volume of business transacted in August was slightly below that for July, notwithstanding that August contained twentyseven working days against twenty-six in July. Seasonal declines were recorded for the frozen meat export trade, although the beef export trade showed continued marked activity. Record figures for butter and cheese production give promise of an unusually early dairying seaS °The above announcement is made by the Government Statistician in a survey of business transacted during the month of August in the latest Abstract of Statistics. . „ ~j “In view of the exceptionally mild winter, this is not altogether unexpected,” states the report. “The overseas trade was characterised by a recession in exports and an advance in imports. Judging by previous years, and the visible balance of trade in favour of the Dominion at the present time, there is reason to anticipate continued activity in the import trade. This is important, since a.ctivity in import trade is closely associated with increased activity in the internal trade of the Dominion. The building industry was not maintained at the high level recorded for July, while the transport services (railways and shipping) reflect the _ midseasonal lull in the movement of primary products. The general wholesale-price level declined slightly in August, due principally to recessions in all groups except consumers’ foodstuffs. Dairying and Meat Industries. “August is approximately the second lowest month of the year, from the production point of view, in the dairying industry, and in normal times is insignificant except perhaps as an indicator of the state of the season. The grading figures, which are used as indices of production, for the August just passed are, however, unique. The figure for butter is a record. It shows an increase of 26.96 per cent, over that for August. 1927; it represents more than double the average for the. same month over the last ten years, and is the highest August figure yet recorded. Similar remarks apply to the quantity of cheese graded, except that the figure in this instance is treble the tenyear average. The quantity of frozen lamb exported in August was 11.29 per cent, below that for the same month in 1927, 'and 42.26 per cent, below that for July, 1928; mutton also showed recessions of 14.10 per cent, and 0.69 per cent, respectively in comparison with August, 1927, and July, 1928; the beef trade, however, was 64.99 per cent, above July, 1928, and 10.76 per cent, below August, 1927. For the ten months ended August, beef and lamb show increases of 95.65 per cent, and 9.81 per cent, respectively as compared with a corresponding period for last year, whereas mutton shows a decline of 0.04 per cent. External Trade. “As exports were maintained .at an unusually high level in July, it is not surprising to find a sharp recession in August.' The imports showed the usual seasonal advance. The exports recorded for August were 40.25 per cent, below the figure for the preceding month, and 11.25 per- cent, below the corresponding month last year; the recorded value of imports was 17.62 per cent, above July and 17.97 per cent, above August last year. Considering the figures for the eight months ended August, exports are running on a level just over £7,000,000, or 20.38 per cent., above, while imports are so far a little over £200,000, or 0.73 per cent., below, those for 1927. The visible balance of trade in favour of the Dominion for the eight months ended August now stands at £14,182,641, or more than double the figure for the same period last year, £6,677,322. Railways and Shipping.

“The level of activity in railway transport, as indicated by the volume of ordinary passenger (excluding seasonticket holders and passengers carried on road motor services and lake steamers) and freight traffic for August, was below that for the preceding month, but above that for August last year. The ordinary passenger traffic for the four weeks ended August 18, 1928, was 2.47 per cent, below the immediately preceding period, but 0.08 per cent, above the corresponding period in 1927. The net ton-miles for the period under review were 10.67 per. cent, above a similar period last year, and were 1.23 per cent, below July. The cumulative totals so far for 1928 show passenger traffic to be on a slightly lower and freight traffic on a higher level than that ruling in 1927. “August, as usual, was not accompanied by any marked activity in the shipping industry. Overseas shipping showed a recession of 5.11 per cent, as compared with July, but was 5.12 per cent, in advance of the level recorded in August last year. The figures for the eight months show an increase of 3.26 per cent, above 1927.. Coastal shipping was 8.61 per cent, below the level for August last year, and 11.8 a per cent, below July, but shows an increase of 3.51 per cent, for the eight months of this year as compared with 1927.