OVERSEA TRADE

Dominion, Volume 24, Issue 55, 28 November 1930, Page 12

OVERSEA TRADE

Dominion’s Position DECLINE IN IMPORTS Favourable Balance Notwithstanding the heavy decline in the values of dairy produce, wool and other primary products, the export figures for October show a decrease of only £33,745 as compared with those for the corresponding month of last year. On the other hand, imports are lower by £718,229. The detailed figures as supplied by the Customs Department afford the following comparison:— Oct., 1929. Oct., 1930. Decrease. £ £ £ Imports .. 4,409,812 3,691,583 718,229 Exports .. 2’479,310 2,445,565 33,745 E Imports £1,930,502 1,246,018 684,484 Taking the figures covering the Dominion’s oversea trade for the ten months ended October 31, it is found that export values at £39,576,645 for the current year show a decrease of £8,557,444, as compared with those for the corresponding period of 1929. The imports, valued at £37,040,126, show the substantial decrease of £3,724,100, as compared with the ten months of last year. An excess of exports of over £7,369,000 in 1929 has been reduced by £4,833,000 to £2,536,000 this year. The complete figures are shown in the following comparative table 10 mos. 1929. 10 mos. 1930. Decrease. £ £ £ Exports .. 48,134,089 39,576,645 8,557,444 Imports .. 40,764,220 37,040,126 3,724,100 Excess of Exports 7,369,863 2,536,519 4,833,344 The course of the Dominion’s oversea trade this year is shown in the following table, which gives the monthly exports and imports to October 31: —

Although the twelve months to October 31 covers parts of two export seasons, the following table is of interest as showing the volume of the Dominion’s oversea trade for the last eleven years:—

It will be seen that only in two years, 1919-20, and 1925-26, has -there been an adverse visible trade balance. With most of the current season’s produce still to be exported—although at low prices—and with the decline in imports still strongly in evidence, the position at the end of the “producing year” should be a fairly favourable one.

Exports. Imports. January . 0,377,853 4,190,632 3,968,218 February . 5,024,830 March . 5,586,037 4,062,976 April .... . 3,048,789 . 4,521,265 3,542,720 3,398,907 June .... . 3,741,311 3,404,084 July . 3,384,742 3,014,713 August . 1,891,632 4,054,974 September . 2,074,015 3,711,813 October .. . 2,445,565 3,691,583 Total . 39,576,045 37,040,120

Year to Excess of exports. £ Oct. 31. Exports. £ Imports. £ 1020 45,680,680 54,973,723 •9,293,043 1021 46,000,405 49,021,469 3,921,064 1922 42,919,430 33,589,043 9,329,406 1923 45,705,872 42,360,623 3,330,249 1921 50,231,302 47,515,560 2,715,742 1925 54,778,350 51,287,352 3,490,998 1926 48,417,038 51,217,359 •2,799,421 1927 46,515,3(33 45,420,700 1,094,054 1028 56,681,980 44,225,955 2,456,034 1029 55,876,940 48,935,209 6,941,731 1930 47,021,619 45,073,877 1,947,742 •Excess imports.