OVERSEAS TRADE

Evening Post, Volume CXIX, Issue 134, 8 June 1935, Page 6

OVERSEAS TRADE

REVIEW BY MINISTER

NCREASED TIMBER EXPORTS

A review of the position of New Zealand in relation to overseas trade was made by the Acting Minister of Finance (the Hon. A. Hamilton) in an interview with an "Otago Daily Times'.' reporter. Mr. Hamilton stated that the figures for the past financial year had already been made public, but there were some features upon which he thought comment might prove interesting. The total exports from New Zealand during the year ended March 31, 1935, were valued in New Zealand currency at £44,918,000, said the Minister, a deTease of £1,125,000 from the figure for the preceding financial year, but it was a very satisfactory total when it was remembered that, through the lower prices this season, the value,of the exports of wool had decreased by no less than £3,755,000. Increases in the exports of lamb and mutton (£2,610,000) had counteracted to a large extent the smaller return from wool.

A pleasing feature of the export trade during the past twelve months had been the increased exports of timber, continued Mr. Hamilton. Although the total value of the exports of timber did not form a substantial percentage of the total export trade, a considerable number of people were employed in this industry, the operations of which had been severely curtailed in recent years. During the past financial year 37,500,000 feet of sawn timber had been exported, as compared with only 24,500,000 feet during 1933-34, 20,000,000 in 1930-31,. and 38,000,000 in 1929-30. The value of the imports into the Dominion during 1934-35 was, in New Zealand currency, £32,568,000, an increase of 24.6 per cent, over the figure for the preceding year, said Mr. Hamilton, and the largest total since 1930-31, when the value was £39,833,000. Imports from the United Kingdom and all British countries also increased by about 25 per cent., so that the ratio of British imports had been maintained. CUSTOMS TARIFF. "In conformity with the Ottawa Agreement, the Customs tariff was reviewed by a Tariff Commission," stated the Minister, "and the revised schedule of duties came into operation last year. The rates of duty on many lines of British goods were reduced or abolished, without adversely affecting our secondary industries. One of the most striking features of the tariff was the inauguration •as from January 1 last of a scale of duties on unassembled motor vehicles lower than' that on vehicles imported assembled. Impressed with the success from the industrial point of view of an assembly works already established in the Dominion, the Government came to the conclusion that the motor-car bodybuilding industry as carried on in New Zealand had failed to achieve results, but that there was room for the development of a relatively large industry in the assembly of motor vehicles in New Zealand. Motor-cars of United Kingdom origin are now dutiable,at 5 per cent, ad valorem, and foreign cars at 61i per cent, as compared with 15 per cent, and 73! per cent, on assembled vehiclesi. Already one new assembly plant has been erected and is in operation in Wellington, and it is anticipated that further similar factories will be established. During the four months ended April 30, 1935, 1595 motor-cars and 1026 chassis and lorries were imported unassembled or completely knocked down." , MARKETS ABROAD. The Government had been endeavouring for some time past to further the Dominion's trade with other countries and extend the market for her products, said the Minister. It was well known that New Zealand depended largely on the United Kingdom as a purchaser of her exports—in fact, over 80 per cent, of produce was exported to Great Britain, whereas only about 55 per cent, of Australian exports were, consigned to the United Kingdom. Many European countries imported large quantities of goods of a kind largely exported from New Zealand, and it was hoped by means of trade agreements with such countries to extend the number of markets for New Zealand goods. Already during the present visit of the Minister of Finance (Mr. Coates) to tendon; by an exchange of Notes between the Ambassador for Sweden and the New Zealand Minister, Sweden and New Zea- ■ land had agreed to accord to each ! other "mostrfavoured-nation" treat- ■ ment in matters of commerce, CusI xoms, and navigation, and in addition I the Swedish Government .had made a ■ valuable concession in the duty 1 chargeable on New Zealand apples. ! According to the latest figures avail- ! able, the total imports of apples into ; Sweden in 1932 was about 17,400 tons, i and in 1933. 10,800 tons. That country 1 was also a large importer of hides, 1 skins, and wool. . i