BALANCE WITH AMERICA

Evening Star, Issue 22895, 1 March 1938, Page 6

BALANCE WITH AMERICA

PENDING RECIPROCAL AGREEMENT Economic planning by way of trade treaties is_ filling an important place in world_ affairs at present, and New Zealand is not lagging behind in this respect. : Following the agreement with Germany and the tentative discussions with Australia comes the statement by the Minister of Marketing, the Hon. W. Nash, at a conference of farming representatives in Morrinsville recently, that negotiations for an agreement with the United States were in progress. A significant fact in view of this announcement is the visit of Mr E. F. Macdonough, trade commissioner of the foreign department of the Los Angeles Chamber of Commerce, who arrived in Auckland recently to interview Government departments and chambers of commerce in an effort to extend trade between the two countries. Mr Macdonough has compiled a list of some 15 commodities which it is understood that New Zealand is prepared to sell in the United States, and he will investigate their possibilities. During the past three or four years there has been a slight improvement in the apparent trade balance between the Dominion and America, although New Zealand is still in an unfavourable position. The following table compares the exports from and the imports to New Zealand for the past eight years, together with the balance unfavourable to New Zealand:—

The increased purchases of wool by the United States at enhanced prices during the past season is largely responsible for the higher export total. Since the war the highest level of importing from America was touched in 1920, when £11,100,000 was recorded. The peak in exports was £7,456,000 in the same year. An analysis of last year’s exports shows that the principal items were wool, butter, tallow, meat, pelts, rabbitskins, and sausage casings. The following notable movements are shown in New Zealand’s imports from America during the first nine months of the past two years:—

Other principal imports, with figures for 1936 in parentheses, are:—Paper, £108,752 (£64,294) ; sulphur, £92,505 (£70.185) ; agricultural implements, £72,619 (£64,071); tools. £65,049 (£50,395) ; hardware, £52.759 (£62,354) ; books. £54,646 (£39,586) ; leather, £44,736 (£53,870).

BACON PIG CHAMPIONSHIP

RECORD ENTRIES RECEIVED [Per United Press Association.) WHANGAREI, February 28. So far record entries have been received for the national bacon pig championship to be held at the Whangnrei Show on March 11 and 12. To date 100 entries have been received—a record for the pig section at any show in New Zealand or Australia. Last year there were 60 entries.

Exports, Imports, Balance, £000 N.Z. £000 N.Z. £000 N.Z, 1930 2,117 7,715 —5,598 1931 921 4,057 —3,136 1932 690 3,381 —2,691 1933 1,189 2,783 —1,594 1934 1,250 3,547 —2,297 1935 2,468 4,362 —1,894 1936 2.878 5,323 —2,445 1937 4,796 6,720 —1,924

1936. 1937. £ £ Motor cars 670,655 608,382 Petrol 315,322 442,197 W’ireless 189,648 247,642 Tobacco 311,212 209,306 Electric machines 146,476 169,982 Trucks 260,594 144,680