NIUE ISLAND

Evening Post, Volume CXVIII, Issue 51, 29 August 1934, Page 14

NIUE ISLAND

PAST YEAR REVIEWED

REDUCED COPRA PRICES

The report of the Niue Island Administration for the year ended March 31 last, presented to Parliament yesterday, stated that in common with other island territories Niue experienced a difficult year. Revenue for the twelve months ended March 31, 193*4, amounted to £13,972, while expenditure) totalled £13,840, a surplus of £132, as against a surplus of £357S for tho previous yeai*. Investments on behalf of tho Administration by way of general v.csorvo amounted to £3706 on March 31, 1934. On tho same date the Administration held assets valued at £30,997.

Imports for the calendar year 1931 i totalled £13,123 and exports £11,542. The figures for the previous year were £14,756 and £13,987 respectively. The total trade for the year 1933 was only £24,665, ns compared with an average of £32,866 over the previous ten years. "The trade figures largely reflect the decreasing value of copra during the past few years," the report states. "This product has been in the past the island's principal source of. revenue, but during the last twelve months tho market price has reached what is believed to have been a record low level. The loss to tho Administration has been twofold in th'fit Hie greatly. reduced value lias resulted in lessened production. Tlie total quantity exported during tho calendar j-Piir under review was IV>O tons, valued' at. £1760, as against, an averago of 822 tons, valued at £5772, over tho previous ten years. "Fortunately, the reduced value of copra has brc'n offset to a great extent by the inerensed trade in bananas carvied to Now Zealand by Iho m.v. Maui Pouiaro. The exports in IM2 nu<l !!>;!:> amounted to 22,828 eases :md 24,596 eases respectively, as compared with 8703 oases in 1931. While the small quantity shipped in 1931 was largely duo to'tho fact that the island -\yas then recovering from tho effects of a prolonged drought find henvy storms, tho 1933 figure is tho highest yet reached."