OVERSEAS TRADE

Dominion, Volume 28, Issue 284, 28 August 1935, Page 8

OVERSEAS TRADE

Decrease in Export

Values

IMPORTS STILL RISING Favourable Balance Lower A shrinkage iu the value of exports and a further advance in imports, with a substantial decline in the visible favourable balance of exports, are the principal features of the overesas trade returns for July issued yesterday by the Customs Department. Exports last month, however, were valued at £N.Z.3,218,000, au increase of £N.Z.367,000, compared with those for July, 1934. This increase was probably accounted for by one shipment of produce. Imports last month Were valued at £N.Z.2,947,000, au increase of £N.Z.80,000, compared with those for July, 1934, and were £N.Z. 1,252,000 more than those for July, 1933. The figures for July for the last? three years are compared in the follow-

For the seven months ended July 31 exports were valued at £N.Z.30.327,000, a decrease of slightly over £4,000,000, compared with those for the corresponding period of last year. The decrease was largely accounted for by the lower prices ruling for wool. Imports, on the other band, show an increase of rather more than £N.Z.3.000,000, the total for the seven months being £N.Z.19,665,000, compared with £N.Z.16,623,000 for the corresponding period of 1934.

The excess of exports over imports for the last seven months shows a reduction of more than £N.Z.7,000,000 compared with that for the corresponding period of last year. The export and import figures for the seven months’ period ended July for the last three years give the following comparison Excess of 7 months Exports Imports Imports ended £ (N.Z.) £ (N.Z.) £ (N.Z.) July. 1935 30,327,060 19,665,000 10,662,000 July, 1934 34,349,000 16,623,000 17,726,000 July, 1933 26,739,000 14,329 000 12,410,000 A ’reduction of £N.Z.5,295,000 is shown in the exports for the 12 months ended July 31, wh'eh total £N.Z.43,321,000, compared with £N.Z.48,616,000 for the preceding 12 months. Imports for the 12 months total £N.Z.34,382.000, an increase of £N.Z.6.506,000 over those for the preceding 12 months, and more than £N.Z.9,350,000 above those for the year ended July, 1933. The decline in exports and the advance in imports has reduced the favourable balance for the 12 months by £N.Z.11.801.000 to £N.Z.8,939.000. The 12 months’ figures are compared in the following table: — Excess of 12 months Exports Imports Exports •ended £ (N.Z.) £ (N.Z.) £ (N.Z.) July, 1935 43,321,000 34,382,000 8,939,000 July, 1934 48,616,000 27,876,000 20,740,000 July,

1933 38,815,000 25,031,000 13,78-1,000

The above figures take no account of specie, inward and outward movements ot which have been as follow:— Exports Imports £ £ Month of July 1935 139,800 834 7 months ended July, 1935 504,200 189,713

iug table:Excess of Exports Imports Exports Month of £(N.Z.) £ (N.Z.) £ (N.Z.) July, 1935 3,218.000 2,947,000 271.000 July. 1934 2,851,000 2,867,000 *16,000 July, 1933 3,377,000 1,695.000 1,682,000 ’Excess of imports.