N.Z. TRADE

Grey River Argus, 5 December 1932, Page 6

N.Z. TRADE

BALANCE BETTER Hope of a Change Seasonal improvements arc making themselves felt in tin* current month’s business statistics. The spring impetus to internal trade has had its effect upon the bunk <lcbts index, which took an upward swing during October. Similarly, tin* early commencement of the export season has moved the advances: total up slightly, although to a less extent than is customary for this lime of the year. A reversal of the long-estab-lished trend in the flow of funds from free to fixed terms of deposit wa.s prominent in this month’s banking statistics, states th(> Abstract of Statistics for October. External trade conditions improved substantially. The diminuation in exports recorded in September was largely recovered, while imports re<‘ordt‘<l 1 further substantial drop. ('onseipicntly. the balance of trade remaim'il in the Dominion’s favour to an appreciable extent. Indeed, the accumulation of favourable balances almost every month has brought the total for tin* 10 months of the current year up to the highly satisfactory figure of £16.8(111.006 (expressed in terms of New Zealand currency), while the balance for the 12 months emling in October, 1932, amounted to £12,90(1.00(1. Butter, cheese and wool have been shipped abroad in substantial quantities during the month under review, but frozen moat in general has lost lhe impetus of previous months ami now reflects a considerable rest ri<‘tion in quantity exported. THE ENGLISH MARKET. On the English market the portents are far from bright from the primary producer’s point of view. Butter ami cheese have slumped unprecedentedly all through the month, while latest ad vices suggest an even worse position with butter down to 84s ami 85s. Frozen meat experience'] a bad time (luring the month also, with a falling trend in prices on a glullt‘d market The* effect of the meal restrictions was, however, apoarent in lhe early part of .Xovemlicr. when lhe market immediately rcspondetl with a firmer ami rising tone. The opening stages of ihe new series of London wool stiles now in progress suggest a maintenance of lhe recent improvement in wool prices. The jiri'-Christmas lull in passenger traffic was evident in the railways statistics for the month, while goods traffic also remained quiet. Similarly, a dull period in shipping circles was suggestive of the calm before the rush consequent uj»on the op(*niiig of lhe export season. Al any overseas vessels art 1 now in New Zealand waters loading the season's out .nut of primary pro(’ontrary to the experience of last year ami the earlier jiortion of the current year, social statistics show a slight increase in the number of mar-j ringes celebrated during the first ninei months of 1932 over the corresponding portion of 1931. A HEALTHY POSITION. Statistics of the Dominion’s overseas trade for October reveal a comparatively healthy position. Last month saw the volume of exports sink to its lowest level for the year on a value basis, but a considerable recovery has since taken place, October witnessing an increase of 55.7 per cent. This figure, moreover, is as much as 35.4 per cent, above that for October, 1931. Tin* export trade has, in fact, been definitely brighter all through the year, and for the 10 months now completed shows an increase in value of 7.2 per c(‘nt. over the corresponding portion of 1931. Wool has contributed to no small extent towuird the improved export outlet. Indeed, for the month under review record shipments for October went, abroad, the quantity exceeding last month’s figures by 27.7 per cent. The total for October, 1931, was more than trebled. In value, the movement from September amounted to an increase of 22 por cent., and from October, 1931, was slightly greater than the improvement in quantity. For the concluding portion of the year exports of wool have increased in quantity by 9.2 per cent., and in value by 2 per cent, over last year’s totals for a similar period. Imports continue to decline, and for the month under review indicate a decrease of .1.4 per cent, in value from September and 0.8 por cent, from October, 1931. For the cumulative period of 10 months, the recession amounts to 9.4 per cent.