AUSTRALIAN TRADE
THE CORNER TURNED'
A substantial Improvement in the export trade of the Commonwealth is revealed iir the monthly statistics for September, compiled by the Acting-Common-wealth Statistician (Professor Giblin). Imports are still being rigidly curtailed, w'th the result that the trade balance in favour of Australia is steadily improving. For the three months ended 30th 'September last total imports were £10,354,038 —almost 50 per cent, below the value of imports in the same period of 1030-31. Exports were £6,244,836 loAver at £17,565,172, due primarily to a. decrease' of £5,203,760' in gold exports, and to the fall in commodity puces. ... Despite the drop, however,, at the end of the -first quarter, exports exceeded. import 3by £7,211,134, compared withexcess exports of £3,442,806 at 30th Sep> tember o£ last year.
IMPORTS
3 months, 3 months, 1930-31 . 1931-32 £ £ ... 20,295,175 .10,231,518 72,027 122,520
Merchandise Bullion
20,307,202 10,354,038
Merchandise decrease, £10,063,657; bullion increase, £50,493; total reduction in imports, £10,013,164.
EXPOETS
MerchandiseBullion.- -..
... 17,000,993 15,959,917. 6,809,015 1,605,255
23,810,008 17,565,172
Merchandise decrease, £1,041,076; bullion decrease, £5,203,760. Total decrease, £6,244,836. Excess of exports over imports, 1930-31, £3,442,806; excess 'exports over imports, 1931-32, £7,211,134. # . In these comparisons, however, it is necessary to make adjustments for de« preciation in'Australian'currency. If exports which are shown,in Australian currency are valued in British currency it is then found that the favourable trade balihefc is";-reduced-to £3,411,962. -,But ■it js-»-credit-balance all the game, and mainly "'snows that Australian external trade has-turned ths corner. The returns for the next few months' should show a great advance, as they will include the greater part of the season's shipments of wheat and wool at higher prices than they have been receiving.
AUSTRALIAN TRADE
Evening Post, Volume CXII, Issue 120, 17 November 1931, Page 12
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