AUSTRALIAN TRADE

Evening Post, Volume CIX, Issue 102, 4 May 1925, Page 14

AUSTRALIAN TRADE

SUBSTANTIAL EXPANSION

FAVOURABLE BALANCE

REPORTED.

Under the joint influence of a favourable season and high prices for all its leading products, Australia, is now able to show a much more satisfactory trade position than for some time past, says the "Melbourne Argus." For the eight months ended 28th February total imports were £100,673.656, or £5,254,----469 more than for the corresponding terra in 1923-24, and £11,574,802 above the figures for the preceding year. Therefore, it cannot be said that there has been restriction in spending either by State or by people. For those two years, however, exports were much less than imports, the poor season in 1923-24 resulting in an adverse trade balance for the eight months of some £15,000,000. This year a complete swing over has taken place, so that, although imports for the eight months at £100,673,656 are' so much heavier than in the corresponding term, and although they include £1,076,649 of gold brought here by banks, exports exceed imports for the term by £9,238,289. This result is traceable to gains by all the primary industries. Butter valued at £7,525,455 ■was almost double the value of that exported in 1923-24. Proportionately, a better showing was made by beef, as shipments this year were £2,231,820 i against £704,861 last year. Consignments of mutton aro still small, but lambs shipped reached the total of £1,040,000. Satisfactory exports of dried fruits were also made, those of raisins reaching the sum of £659,913, or £443,400 above the total for 1923-24. Such figures are dwarfed by those relating to wool and wheat. Despite the limited roster of wool sales since January the value of greasy wool exported to the end of February was almost £46,000,000, an increase of about £10,----300,000 for the year. If the increase in scoured and washed wool be added that total is expanded to £11,300,000. Considerable increases have also been scored by hides and skins and tallow, so thai the return to the man on the land from all such products has been unusually substantial. Then the farmer has added to the national wealth by his shipments of wheat. These, for the eight months of this year, aggregated £15,----076,259, the total being £7,000,000 in excess of the exports for the same term •in 1923-24. In connection with this year's shipments it is noticeable that during February nearly' £6,800,000 of the exports for the eight months was sent _ from the States. Very little expansion in shipments of flour is recorded, the figure for tho term at £3,796,----416 being only about £300,000 above that of the preceding period. As the market for metals remained on a high level, the return from products of the base metal industry is also much larger. So far as imports go, no exceptional increases aro noticeable. The largest is that of apparel, textiles, and manufactured fibres, which are valued at the large sum of £29,702,029, or £2,700,000 in excess of thb total for 1923-24. The higher price of cornsacks is responsible for £1,100,000 of that increase, and silks and yarns for some £500,000 of the balance. In the case of metals, metal manufactures, and machinery an. expansion of_ almost £1,100,000 is disclosed. It arises almost entirely from the greater value of electrical machinery and appliances imported. The total for the wholo section is still swollen by tho large arrivals -of motor chassis, motor cycles, etc., which are valued at £7,682,----067 for tho eight months, or practically the same sum as in 1923-24. The only other increases of any importance arise from larger arrivals of petroleum, and from the receipt of £1,076,649 of gold during February by various financial institutions. R^eductions are shown in ths imports of timber, rubber manufactures, and tobacco.