GREAT CREDIT BALANCE

Evening Post, Volume CXVI, Issue 144, 15 December 1933, Page 12

GREAT CREDIT BALANCE

EXTERNAL TRADE RETURNS

A balance of £13,520,715, represented by the excess value of exports over imports, is disclosed in the Customs external trade returns for the eleven months of this year. The value is expressed in New Zealand currency and specie is excluded from these figures. The precise returns as supplied by courtesy of the Customs are as- follows:—

Balance in terms of New Zealand currency, excluding specie for 1933 period, (£13,520,715; for 1932 period, the balance was £9, 929,888. As the wool 6ales of December and the exports of such wool, combined with the exports of dairy produce and early lamb and mutton shipments have to be added to the December exports and imports persist in declining, it is obvious that the disposal of accumulating London funds will present some difficulty early next year. The value of exports for the single month of November was £2,968,901, as compared with £2,607.217 for November, 1932, an increase of £361,084. Imports last month were valued at £2,045,296, a- decrease of £118.390 compared with those for November last year. The figures.'.are shown in the following comparative table:—'

The Customs Department explains that the values recorded for exports are the declared f.o.b. values in terms of New Zealand currency, while the valuee recorded for imports are the current domestic values in the countries of export plus 10 per cent.

Exports. Imports. 11 months. £ £ 1933 37,186,549 v 19,505,393 1932 33,695,047 20,958,527

Exports Imports Nov., 1932. Nov., 1933. Inc. £ ■ £ £ ... 2,607.217 2.968,901 361,684 ... 2,045,200 1,926,906 *118,390 *Decrease.