DOMINION STATISTICS

Evening Star, Issue 21717, 11 May 1934, Page 7

DOMINION STATISTICS

EXPORT AND BANKING FIGURES EFFECT OF WOOL VALUES The ‘ Abstract of Statistics ’ gives the following situation at the close of the .financial year:— The value of the export trade of New Zealand (excluding specie) during the March year just past was £46,012,570 in-New Zealand currency, equivalent to £36,834,000 in sterling, an increase of £8,532,406 in New Zealand currency, . . or of £4,157,000' 'in sterling, as compared with the totals tor 1932-33. Budding activity, stimulated by me Unemployment Board’s subsidy scheme, was on a much higher level ,m 1933-34 than in the previous year, the value of permits issued in the larger towns during the last twelve months totalling £3,363,869, as compared with £2,079,982 during the previous .March year, liailway (inances improved substantially during the year, while both goods and passenger traffic were on a substantially higher level than in 1932-33. The banking situation at the close of the financial year shows some favourable features and some not so favourable, The total amount held on deposit at the end of March was £64,- / 52,395—a record figure. Of this total £23,543,824 was held on current account and £39,903,119 on fixed deposit, Government/ deposits accounting for the remainder. The relatively high ratio of fixed to tree deposits is in it-, self an unfavourable sign; but in this connection it is desirable to draw attention to the fact that deposits held on current account have increased materially in recent mouths, the present total being the highest recorded for more than three years past. The high ratio of fixed deposits is not so much due to a relatively low level of free deposits as to an exceptionally high total of fixed deposits. Advances at the end of March totalled £41,895,020 —an exceptionally low figure for recent years. hlxport prices generally were substantially higher in Alarch, 1931, than in the previous March, the all-groups index number showing an increase of 33 per cent, as compared with the figure a year' ago. This result is mainly brought about by the substantial rise in wool prices, and, to a lesser extent, in meat prices also. Although wool prices show- recessions at the latest sales as compared with the peak prices obtained at the January sales, the wool-selling season has, on the whole, been very satisfactory to growers. The total realisations at sale to date fall little short of' £10,000,600, ■ and when the , final clearing-up sales are completed it is anticipated that this total will be slightly exceeded. Although the general export price index' number has moved upwards steadilv -during each successive month since May last 'the index number for the , dairy products group, which recovered somewhat early in the current export season, has since fallen to the lowest level recorded in recent years. Imports during the year ended March 31 (excluding specie) were valued at £21,477.553, equivalent to £26,136,000 m New Zealand currency and to £20,908,000 in sterling. 4he value ot imports expressed in New Zealand currency was £1,077,000 higher than in the previous financial year; but in; sterling values £1,141,000 lower. The value of commodity exports exceeded that of imports of merchandise during tlie vear ended March 31, 1934, by £19.907.000 in New Zealand currency, or £15,926,000 on a sterling basis. LONDON WOOL SALES TONE CONTINUES STEADY Press Association—By Telegraph—Copyright LONDON, May 10. (Received May 11, at 10 a.ra.). At tlie. wool sales 11,667 bales were offered, including 4,400 iron) New Zealand. About 4,331 .bales were sold There was fair home and Continental competition. There was a steady tope, hut withdrawal-: continued on high limits. . New Zealand scoured merinos—- “ Bcnchan.” top, 31d. average 3lgd; greasy cross-bred, “ RK/K, 13* and IOJd.