DOMINION’S TRADE

Dominion, Volume 23, Issue 74, 20 December 1929, Page 6

DOMINION’S TRADE

INCREASE IN IMPORTS EXPORT VALUES DOWN FAVOURABLE BALANCE REDUCED There was a considerable decline in the value of imports during November, both as compared with those for October, and the figure for November, 1928. This may indicate a check to the upward trend of imports which has been very marked this year. On the other hand, there was a decrease of nearly £500,000 in the value of exports last month compared with November, 1928. The overseas trade returns for November supplied by the Customs Department compare as under with those for the corresponding month of last year:— Nov. 1928. Nov. 1929. Decrease £ £ £ Exports ... 3,359,533 2,878,804 480,720 Imports ... 4,748,374 4,049,512 698,862 Excess of imports .... 1,388,811 1,170,708 The figures for the eleven months ot the year which afford a sounder basis of comparison are as follow: — 11 moi. 11 mos. Increase 1928. 1929. or decrease £ £ £ Exnorta . 51,805,163 51,012,893 * 792,270 Import' 411463,657 44,813,738 3,350,081 £10,341,506 £6,199,155 • Decrease. The above table shows that while the value of exports for the eleven months has declined by £792,270, the imports have increased by £3,350,081 compared with those for the corresponding period of last year. Thus the favourable trade balance of a year ago of well over £10,000,000 has been reduced by £4,142,351. The above figures include parts of two export seasons and when the sharp decline in the values of wool, frozen meat and dairy produce during the current season are taken Into account it will probably be found that the total export values will be well below those of last year, even allowing for increased production. The following tables afford comparisons between the imports and the exports for the eleven months of 1928 and for the current year:— v IMPORTS.

1928. 1929. £ £ January •• February •• March .... . 3,770,020 . 3.578,238 .. 4,284,032 4,319,091 3,678,543 3,854.255 April .... .. 2,697,541 . 3,424,831 4,020.295 3.239,804 . 3,161,038 3,425,365 . 3,666,276 4,459,652 August •• .. 4,311,777 4,275,000 September October .. 4,147,742 . 3,673,788 5,082,319 4,409,812 November . 4,748,374 4,049,512 Totals: 11 months . 41,463,657 44,813,738 EXPORTS. . 1028. 1929. £ £ January .. . 7,606,385 8,449,931 February . March . • .. 7,842,822' . 7,687,503 1 8,056,083 7,506,558 April .... Mav .•••. .. 6,563,548 5,505,999 . 4,738,791 4,025,196 June . 3,276,223 4,137,774 July ' . ’ 3,355,021 . 2,719,835 August . 2,005,201 2,580.860 September .. 2,592,533 2,582,543 October .. . 2,776.703 2,479.310 November. . 3,359,533 2,878,804 Totals: 11 months . 51,805,163 51,012,893