OVERSEAS TRADE

Dominion, Volume 27, Issue 70, 15 December 1933, Page 10

OVERSEAS TRADE

Big Favourable Balance EXPORT VALUES UP Imports Still Decline ELEVEN MONTHS’ FIGURES An improvement in the recorded value of exports and indications of an casing in the decline in imports which has been very pronounced during the last three years are the main features of the overseas trade returns for November released yesterday byv the Customs Department. The apparent favourable balance, in terms of New Zealand currency, for the eleven months of the year is over £I3J million, compared with under '£lo million for the corresponding period of 1932. The recorded value of the exports last month was £2,968,901, compared with £2,607,217 for November, 1932, an increase of £361,654. Imports last month were valued at £2,045,296, a decrease of £118,390 compared with those for November last year. The figures are shown in the following comparative table: — Nov. 1932 Nov. 1933 Increase £ £ £ Exports 2,607,217 2,968,901 361,684 Imports . 2,045,296 1,926,906 *118,390 ♦Decrease. A truer perspective of the trend of the Dominion’s overseas trade is afforded by the figures for the eleven months of the year, for which export values show an increase of nearly £34 millions. The recorded value of the exports from January 1 to November 30 is £37,186,549, compared with £33,695,047 for the corresponding period of last year, an increase of £3,491,502. Imports, on the other hand, show a decrease of nearly £l4 millions'. The position for the eleven months is shown in the following comparative table: — Eleven months to Nov. 30. 1932 1933 Increase £ £ £ Exports ! .. 33,695,047 37,180,549 3,491,502 Imports ... 20,958,527 19,505,393 ‘1,453,134 ‘Decrease. The values recorded for exports are the declared f.o.b. values in terms of New Zealand currency, while the values recorded for imports are the current domestic values in the countries of export plus 10 per cent. On this basis the visible favourable balance in terms of New Zealand currency (excluding specie) for the eleven months ended November 30 is £13,520,715, compared wtih £9,929,888 for the corresponding period of last year.