DOMINION TRADE

Hokitika Guardian, 13 December 1930, Page 3

DOMINION TRADE

MONTHLY REVIEW

(OCTOBER HIGURES EX Ail I NED

-In the abstract -of Statistics for November the Government Statistician reviews the trade of the Dominion. The tide of national business appeal's to have been at a fairly low ebb during October, as interpreted by the volume of debits placed to individual accounts (excluding Government accounts) in the banks of issue. Actually the total showed very little variation ftom the previous month., but in comparison with October, 1929, the slackening in business activity is considerable.

In the dairying industry, however, a much brighter aspect is presented. The total butter-fat production retched a high level for the first tin■cc months of the season; and, indeed, the quantity received into grading stores has never been exceeded for a period. Figures of permits issued for budding purposes record very little movement in this industry, although the tendency is towards a slight improvement from the depression experienced for some time. The increased activity- during the month is pHnoipallv centred in Christchurch and A nekland. The land-transfer and mortgage businesses' have receded to a, marked extent compared with last year, Particularly as regards the number and value of town and suburban properties dealt with. The- -fact should mot be last sight of, however, that this branch of business! activity was exceptionally brisk in Ootobei. 1929. Bank advances have been increasing noticeably in. recent months, and October records a further substantial rise in the total. The situation as regards the railways problem shows no signs ot a Idling, the losses in traffic contrasted with October of last year being substantial. The nuniW of passcu-ors carried records a heavy fall, and ‘the volume of goods traffic handled ar even greater proportionate decline. In shipping circles a quieter period w« e experienced than is usual at this time of the yean, especially as regard* coastal W'R°ls. The export trade of the Dominion continues to exorrid. and reached a level for the month slightly in advance of the average established ; during the preceding five years. The* frozen meat.;export tirade, together with the greatly increased production of butter and cheese were the principal factors responsible for the maintenance of a high level in export figures. Tho import trade, on the other hand, suffered an ann-ec-able depression, and thus contributed towards an improvement in the “visible” balance of trade.

The price-leyel has drooped substantially since last year, practically everv commodity "Contributing towards the fall. Migration figures for Ootobei 1 show the usual substantial excess (ff arrivals over departures exrerien"-yl in this' month of the .'.year, but the cumulative figures forjthe ten month* indicate a stationary as re-

gardP gain or loss by migration. •' The export trade of the Dominion, measured by the recorded value, indicates an improvement of 17.9 per Cent over the previous- month, but a Accession xrf nearly 1£34,000. or 1.4 per cent compared with October. 1929. in which month, howeyCf i • therej was ml shipment of specie' valued-at £129,000. _ The October, 1930. figure is 4.3 per cent above the average for tills month for tbb five preceding years. Commodities recording decreases in value as compared with October, 1929, wore wool, £42,000 (in spite of. a considerJ able increase in quantity exported, i~yflecting the drop in prices experienced for this commodity) ; wheat, £35.000: bides and skins, £133.000; timber. £19.000; and gold, £28,000. On the other hand, an appreciable recovery was experienced with regard to frozen meat (£219.000), butter £134.000) and, cheese (£47.000). The cumulative total for the ten month? is £8,500,000. less than that for a similar period of 1929, and £1,300,000less than the preceding five-yearly aver-, age for the period. Wool contributed £7,000,000 to the huge decline first mentioned. Cheese is down £414,000, the quantity being almost identical with that exported last year, but a- decided decrease in total 'value. Hides arid skins are lower this year by £732.000, and no specie, has left the Dominion during 1930, as against £644,000 in 1929. Butter shows an increase in quantity exported during the ten months of 23.5 per cent., but,' owing to depreciated prices, the value was only 0.6 per cent greater for the current period.

The montli of October witnessed an appreciable depression in the import trade of the Dominion, the statistics indicating a decline of £718,229, or 16.3 per cent., of the total value as compared with October, 1929. The current figure is also 6.3 per cent below the average for October for tlio last five years. Motor vehicles, annarel, boots, shoes, etc., and material for clothing, dress, etc., ten and whisky sre the Principal commodities producing the falling off in the iinnort trade. The total for the ten months has decreased £4.000.000 or 9.1 per cent.

On only one occasion since 1924 lias the level of imports been lower for Die ten months period, and the 1930 figure is 4.3 ner cent, lower than the average for the preceding five years.