DOMINION TRADE

Evening Post, Volume CXIII, Issue 80, 5 April 1932, Page 12

DOMINION TRADE

ENCOURAGING FACTORS "CONFIDENCE INCREASING" . ' "Evening, Post," sth April. - Taking a general view of New Zealand's overseas trade at the moment the Government Statitician remarks on the increase of exports during February and the continued improvement of the Dominion's overseas visible trade balance. Basiness conditions improved arid the month closed with a note of recovering confidence. For the twelve months ended.February, 1932, there was. a.- balance of ' £ 10,800,000, as against an adverse balance of £2,000,000 for the previous twelve months.- ~_...' Internal business brightened; iip in February, as -judged, by the volume of bank debits placed to individual customers' accounts. The returns .record, an. unmistakeable improvement over the- previous month and t a maintenance of the level attained a year ago. ' "'.. '' EXPORTS AND IMPORTS. "Two of the factors essential for the extrication of the: Dominion: from its pre-. s?nt economic -and: financial ■,stress, are gradually showing signs, of operation in! the statistics of overseas trade," remarks the Government Statistician. . "First,-the building-up of the export; trade, arid, second, the drastic cnrtail'ment 'of imports. The former shows an increase of 31:1 "per cent, over January; 1932,' arid 34,6 per cent, over February of last year. The total, however, is- still 24J2-per cent, below the average for the month for the last five years.- Imports; on'the other~hand, reveal a decrease of 16.9 per cent, from January', -1932; and 24.7 per cent, from February, 1931,. while the. total value is 41.5 per cent, below.the average for "February for the 11 last five years. For the first two months of 1932 exports are up by 11.1 per cent, and imports down by' 24.7 per cent., compared with a similar period of 1931." BANK RETURNS. _ Referring to the banking position as; an indication of improvement it is remarked that confidence in business enterprise is gradually; increasing, T the \ movement of funds, from fixed-, to free terms of deposit haying during the month under! review; .--The ratio of free' to fixed- deposits now stands at 50.68 per. cent./ as I against" 48:55 per cent:- in January, and i 56.25 per cerit. in February, 1931. ' i, l e-^ank deposits and advances as on Hth March are compared as under:— ' '' 14th Mar., 16th Mar., •■ • ■ ' 1932. 1931. Free deposits .... 16,452,508 17,748,190 Fixed deposits ... 34,405,698 32,854,915 Advances ....... 50,578,858 53,574,130 discounts ....... 781,340 1,074,241 .Government debits and deposits. excluded. : . ■■The^ Government Statistician also states that expansion of enterprise seems imminent as indicated by. the improving ratio of free to fixed deposits. .Financial circles were stimulated considerably in comparison with the previous month, but the general position in this class of business remains at an extremely low level." ' • .REAL ESTATE AND MORTGAGES. Transactions in real estate usually become fairly brisk in February, and this year the movement represented an increase °f 69.8 per cent., over January, and the total transfers effected were only 14 7 per cent, below the number for February 1931. The^ mortgage business also displayed greatejpactivity, registrations increasing by* 56.1 per cent, from January, and discharges by 5)1.7 per cent. Compared with twelve months ago, however registrations are:.on a ■ 1eve1'35.5. per' cent lower, and discharges 25.3 per cent; These figures Teveal an extremely low ebbi in fi." anc'al circles, as the 1931 level was considerably below normal..' ' K,^mit^J 8Sv ed J K co"st™ction of new iumber v 7 40.3 per cent, in