OVERSEAS TRADE

Evening Post, Volume CXXIII, Issue 29, 4 February 1937, Page 14

OVERSEAS TRADE

INCREASED EXPORTS

RISE IN IMPORTS

LAST YEAR'S RETURNS

Substantial increases in bolli exports and imports arc disclosed in a review of New Zealand's overseas trade for 1936 issued by ihc Customs Department last night. The exports were the highest since 1928. and the imports were higher than for any year since 1930. The turnover exceeds £100,000,000 for the fast time since 1929.

Imports at £44,134,000 are £7,817,000 higher than the figures for 1935, and nearly £13,000,000 in excess, of the 1934 figure. Exports at £56,752,000 are £10,214,000 above the figures for 1935, and are by far the highest recorded since 1928. The visible trade balance at £12,618,000 is £2,397,000 above that for 1935. The very substantial increase in exports reflects the general improvement in the value of all New Zealand's principal primary products last year, when wool, meat, butter, and cheese over the whole period averaged considerably more than in the previous year. The very high values for wool this season have,' as yet, scarcely entered into the trade figures, but will make their presence felt in. the figures for the financial year, ending March 31 next. ■ The marked upward trend in imports which commenced during 1933, and'has since steadily continued, is again reflected in the figures for December, which at £4,293,000 are £1,079,000 above those lor December, 1935. Exports for December were valued at £4,322,000, an increase of £400,000 over the figures for December, 1935, due entirely to the high wool values ruling this season. The export and import figures for December for the last five years compare as follows: — Excess of Exports. Imports. Exports. Dec £ £ . £ m s 4 322,000 4,293,000 29,000 1935 ■ . 3,922.000 3,814,000 TOS.OOO I'm ' . 2 593,000 2.802,000 "209,000 10M ■ ••• 4115,000- -2,211,000 1.904,000 193-! '.'■'.. 3.210,000 2,182,000 1,034,000 *Excess of imports. LAST EIGHT YEARS. The expansion of the Dominion's trade during 1934, 1935, and 1936, after the contraction of the four preceding years, is clearly indicated by. the figures for the past eight calendar years, which compare as follows: — Excess of Exports. Imports. Exports. 1986r'.... 50,752,000 ' -14,134.000 12,018,000 J1135 4G535.000 30,3)7,000 10,221,000 1934 ... 47,343,000 31,340,000 10,003,000 1933 41,006,000 211,581,000 15,425,000 1932 ... 35.009,919 24,646,000 10,904,000 19« .. 34,950.898 20,495,000 8,453,000 in-jo- . 44,940,517 44,340,000 001,000 1929 ....' 54,930,003 45,734,472 0,190,000 It will be seen that the decline in exports and imports, which started in 1930, reached the lowest point in 1931 and 1932. During 1933 there was a considerable improvement in the value of exports, leading naturally to improved internal trade conditions, and the consequent expansion of imports, which began at the end of 1933, and has since continued steadily. This has led to a more normal level in the visible trade balance during the past two years, after it had been abnormally high during 1933 and 1934, before the expansion in imports had made itself felt. With the higher: wool values this season, and the comparative stability in meat, butter, and cheese values, compared with last year, balanced by the continued increase in imports, the trade balance at the end of 1937 should also be of normal proportions. ■ The above figures take no account of inward or outward movements of specie, which were as follows: — Exports. Imports. £ £ Dec, 1956 — 10,557 12 months ended Dec, 1930 45.243 30,001 PRODUCTION YEAR. Taking July 1 as the opening of the "production year," the figures for the six months ended December 31, for the last eight years, compare as follows: — Excess of Exports. Imports. » Imports. Year. £ £ £ 1938 ..'... 22.521,000 24,274.000 1,753,000 1935 19.429.67S 19,509,544 139,800 1934 15,844,457 17,525.000 1.080,543 1933 17,643,524 12,947,000 "4,096,524 1932 .... 14,108,262 12,056,000 •1,452.262 1931 .... 13,368,052 11,897,053 "1,470,399 1930 .... 15,160,001 20,455,371 5,298,370 1920 17,807,522 20,200,534 8,453,012 •Excess of exports. The exports in this period, the first half of the present export season, show a sharp rise of £3,091,000 over the corresponding period of 1935, and are easily the highest figure for the period for a considerable number of years. The higher wool values in December are largely responsible for this, though improved prices for other primary products also aid in this' very considerable increase. It will be noted also that imports show a fairly substantial increase over exports for this period, such a surplus being usual in normal rading years.