OVERSEAS TRADE

Hawke's Bay Tribune, Volume XXII, Issue 258, 14 October 1932, Page 5

OVERSEAS TRADE

IMPROVEMENT IN EXPORTS more favourable balance. NINE MONTHS’ FIGURES. Wellington, Oct. 14. A marked improvement in the trade balance is the outstanding feature of the Dominion’s overseas trade figures for the nine months ended September 30, compared with that for the corresponding period of last year. Exports for the nine months were greater by £1,400,000, imports were lower by nearly £2,000,000, and the favourable balance was nearly £3,500,000 higher. According to the figures issued yesterday by the Customs Department, exports during September were £120,148 less than for the corresponding month of last year, while imports showed an increase of £21,048. The month’s figures compare as follow: —

A single mouth’s figures, more often than not, are frequently affected by the movement of a single ship, and, therefore, are not an altogether dependable guide as to the trend of trade.

NINE MONTH PERIOD.

Notwithstanding the low prices ruling for the Dominion’s chief products, especially meat, export values, in New Zealand currency, tor the nine months ended September 30 totalled £28,686,652, an increase of £1,417,528 compared with those for the nine months of last year. On the other hand, imports at £17,065,699 showed a decrease of over £2,000,000. The position rs set out in the following comparative table:—

It will be seen that the apparent favourable balance for the nine months of this year is well over £11,600,000, an increase of nearly £3,500,000 compared with the 1931 period. The values shown for exports are the declared f.o.b. values in terms of New Zealand currency, while imports are valued on basis of values in the exporting countries, plus 10 per cent. Making full allowance for the exchange factor, however, the position disclosed is a very satisfactory one. If tjie export values are converted into sterling, the favourable balance is still over £8,750,000. COMPARISON OVER 10 YEARS. The following table gives a comparison of the export and import values of the Dominion’s trade for the nine months’ period for the last ten years:

It will be seen that imports during 1932 are the lowest recorded during the ten years, while the favourable balance is the best since 1928. Further proof of the improved position is given m the following table of exports and imports for the last three years ended September 30: —

Despite the very great decline in prices of exports, the latest twelve months’ figures are only £10,500,000 below those of 1930; but the imports have declined by rather more than 50 per cent.

Exports Imports Increase Sept., 1931. Sept., 1932. or deer. £ 1,632,944 2,134,482 £ 1,512,796 2,155,530 £ •120,148 21,048 Excess of imports .. 501,538 ♦Deci’case. 642,734 141,196

Exporta ... Imports ..... 9 months, 9 months. Increase or decrease £ 1,417,528 *2,032,330 1931, £ 27,269,124 19,098,029 1932. £ 28,686,652 17,065,699 Excess of exports . 8,171,095 11,620,953 3.449.858 'Decrease.

Excess of 9 mob. to Exports. Imports. exports. Sept. 30. £ £ £ 1923 ...... 37,591,106 31,481,795 6,109,311 1924 ...... 41,057,208 36,137,756 4,919,452 1925 44,191,254 38,234,807 5,956,447 .1926 ...... 37,346,920 37,404,368 •57,448 1927 H>U> 37,916,688 33,684,039 4,232,649 1928 45,668,927 33,041,495 12,627,432 1929 45,654,779 36,354,414 9,300,365 1930 MM*ee 37,131,080 33,348,543 3,782,537 1931 27,269,124 19,098,029 8,171,095 1932 28,686,652 17,065,699 11,620,953 ‘Excess of imports.

Excess of Year to Exports. Imports. exports. Sept. 30. £ £ £ 1930 ..... 47,055,364 45,792,106 1,263,258 1931 35,078,736 28,775,400 6,303,336 1932 36,570,556 22,780,628 13,789,928