EXTERNAL TRADE

Evening Post, Volume CXV, Issue 92, 20 April 1933, Page 14

EXTERNAL TRADE

HEAVY CREDIT BALANCE

IN TERMS OF.STERLING

The Customs Department reports that for ~the twelve months ended March 31, there is*'an excess of value of^ exports over imports of over £16,000,,000' in New Zealand currency. The figures for the full, twelve months are as follows: — March 31. . 12 mos. 1933. Exports ...' £38,810,161: Imports. £22;770,4G0 Excess of'exports £16,039,701 It is explained by the Customs that the values recorded for .exports,,are the declared f.o.b.' .values intenris of New Zealand currency, .while tjie values recorded for jmporta, are .'the''current,. ; domestic values in the countries.-of. export, plus 10 per cent. 'If ' the recorded, value of imports is converted to the-equivalent New Zealand currency,- the -.excess".! of exports over" imports ■ (excluding specie imported or exported) for the financial year 1932-33 is about £12,450,000, as compared with £9,182,000. : - Excepting the year 1919, when the excess of exports over imports reached £23,300,000 (followed by an excess of imports amounting to £15,154,000 in.1920), the credit balance for this year is the largest in the external trade history of the Dominion, as shown in New Zealand currency. The credit balance at March 31 last year reached £11,330,689. : The position of a trade credit balance of over £16,000,000 in New Zealand'money this year is .brought about less by the expansion of. exports than-by the contraction of.imports, which in value ar<> under those for' 1013, for which year they totalled £22,986,000/ The Customs also furnishes the trade returns for the month of March and for the first quarter of this calendar year. These returns compare as follows:— - <;- '•■■'•■ ■■'■"■■; ' ""1033'' ' "i 032 Three months;' ".'■■'.. £ £ Exports .-'<■"...;..:, 13,343,082 11,499.001 Imports '",;...'...; 5,574,037 5,840,283 Excess. exports ... 7,760,345 ' 5,650,318 -' The monthly returns for-March. 1933, show ' exports of'the value'of' £5,396,273, imports £lj888,809; -excess exports £3,507,464. '■- i■' » ; .; ■ ! ;!(The:*export tseason.: has 'still.some two mpiiths'.cto'-go,' and "there is, every indication of ha further, restriction .im imports.