OVERSEAS TRADE

Dominion, Volume 31, Issue 269, 10 August 1938, Page 6

OVERSEAS TRADE

Figures For Export Year

EFFECT OF LOWER WOOL PRICES Exports from the Dominion for the twelve months ended June 30, 193 b, amounted to £61,919,913 and imports for the same period to £u7,042,606, leaving an excess of exports over imports of £4,377,307, as £14,545,006 in 1936-37 and £14,100,6b7 iu 1935-36. , The 1937-38 total was 4.2 per cent, less than that of the previous year. The decline of nearly £6.500,000 in the declared value of wool was due partly to smaller shipments, but mainly to lower prices, the average declared value per bale in 1937-38 being £l6 3/10. compared with the 1936-37 average of £22/3/7, a fall of 27 per cent. The decrease in wool was largely oirset by substantial increases In butter, cheese, frozen meat, hides and apples. The majority of the others showed decreases, notably sheep-skins, rabbitskins and tallow. _ The export season is virtually closed by the end of June, so that trade statistics for the twelve months ended in June possess a special interest, says the monthly Abstract of Statistics. The most marked change in the trade statistics for the 1937-38 season is the sharp fall in wool values, the value of exports of this commodity declining by £6,444,888 from the record figure attained last year. This fall was very largely due to the sharp decline m prices; an additional factor was the fall in the quantity of wool production from 302,900,0001 b. in the grease to 296,800,0001 b. As a result of the lower wool values, stohks on June 30 were substantially heavier than at that date last year (43,300,0001 b. in the grease, as compared with 29,400,0001 b. on June 30, 1937). Dairy produce prices have been materially higher than in the first six months of 1937.