TRADE BALANCE

Manawatu Standard, Volume LIII, Issue 135, 8 May 1933, Page 6

TRADE BALANCE

FAVOURABLE MOVEMENTS. WHAT STATISTICS SHOW. WELLINGTON, May 8. Ai'ore favourable movements in the various business indexes than have neared for some time are reported bv the Government Statistician in In, review for March. The imposition o; the sales- tax and the raising of th, exchange-rate are factors that exert an upward influence upon certain trends, and this should be borne m mind when considering comparison, with corresponding periods of the pieVl °‘Bank ar rfebits remain higher than usual,*and indicate a turnover at lea--, sffghtlv above last month although, compared with March of last year, the influence of the exchange and sales tax must be felt to some extent, he says, “only a slight variation was experienced ill the relative movements ot ad vances and deposits and of fixed ana free deposits, but such as there was tended to substantiate the favourable trend of last month. rail wavs show a more pronnsi„g outlook- during the latest fourweeklv period for which statistics are available. The balance of operating revenue over expenditure is still being maintained at an increasingly favourable margin. The close of the toun-t season struck an optimistic note with a much higher complement of overseavisitors than was the case a vear ag In fact, the whole season has been considerablv busier than last season." The land transfer and mortgagebusinesses continued the improvement shown in February, while the building . industry also displayed a tendency towards greater activity. The oversea trade position was considerably enhanced during March, exports recording an unusually large increase. The balance of exports over imports for the month (excluding specie. > expressed in terms of New Zeaiand currency amounted to Vigainst £1,704,000 for the previous month. Expressed in sterling, this was equivalent to £2,519,000 for March arc ; £1.363,000 for February. A remarkable movement is traeea,>.e in the Dominion's visible balance cr trade during the past two years. 1.;:movement is clear,y the following table, which shows imbalance of trade (excluding specie) :n terms of New Zealand currency ana m sterling for the twelve-monthly perious ending in each month from January. i. 931, to March, 1933.

i*Denores eices <x imports. A GRADCAL IMPROVEMENT. iFrom a series of unfavourable ts ; - asces at the beginning of i93i. ~y.~ j the highest of such balances eeearnr.; i in February, a gradual improved-en: i' has taken, cnlminating in tie mayirrtnm eSCCSS of exports for tUc twelve months ending April. 19?-. {Thereafter the balance has flacruatjed between nine and eleven mil.::-". I pounds Xes- Zealand currency. o- ! eight and ten millions sterlin-r. un::. , in the last period reviewed the highJ est balance of all was reached. The fact that the uniavourat'e c.; I ances for the twelve months ended •March and April. 1931. were greater jon a sterling basis than when ex- ! pressed in Xew Zealand currency -? [doe to a combination of (1) the ;: - • cessive alterations in the exchir.;-: [rate. 3nd (.2) the unequal distributicr. lof trade over the year. The errec: I January iX>. 1933. is easily see- jr. •the greater relative increase in "•: I trade balance in the later months ": [ terms of New Zealand currency £5 [compared with sterling. The market overseas for the l>_-~:~- ! ion's primary produce has been slight"-." j better for wool. The last of z~-- ■ k»cal wool saiss registered s favc--:-i abJe trend. Frozen mutton and kn' ; also maintained a fitmißg tendency, e".: • butter cheese have reached -."--- 1 astrousiy low levels. In spite c: tb>: j serious position of the marketing s:--i ot the dairying industry, local orcducf tioa is still creating new records ~ "-- I the help o: exceptionally favours'!- * !, climatic conditions. It appeared from the Fe&rciry izI ures __ that the expert seamen h; - ■ passed its poak somewhat earlier '.':-■- \ year, but the March rig-res si f. that is had prcbsblv cnlv ittst :-h : !'reached. The unusuallv" <riuh tot: ; (.considering the. tirues>~c: £c.4-X' :'.'■ j in value tor experts daring Mitch - -s jreached, this dgure being. 47.-5 re: j ahead of Februarv and eO--5 ■>= ■ cent, above that for March. ISSi-"It considering the latter movement. :"--: \ taSasoce o-t the present hick exehs::_« ! r ?" e ' ■* as * cot be forgotten;. hx :•;' - ; QooaHy neavy suoolies, cf sil t-e i main primary products were sen: :'c-r- ---: ward curing March.

Twelve montlis ended 1531. Xew Zealand Currency. SterMns. £ 0 *953.030 *373.55. ... *1.600.0:0 *1/5..'.. *395,CCO *455.: *4I_0CC *225.5: 2.522.CCO 1.15L::: . TcTO.OOQ 1-445.9: 1331.000 1.445 : 3.51L003 3.051.':: 4.635.003 4.15:.::: 5.B1S.0Q0 5.257.::: 6.S6O.0CO 6,235.::: S,453,0.0 7,655.::: 1532. 3.755.003 7,957.::: 10.45 1 CCO 9525.5: 9.132.0CO 3.347.5: ArWi H.539.C03 ic.45:. VisV * 10.330,003 s,35i::: 10.033.cce ados. juiv 9,647,093 io.556.o:o 3=32.5: 5,379.::: 10.7I3.OCO 9.744.05 11 335.CCC 103.4.95 ti rrn 1C.241.-9: 10954.030 9,967,05 1533. ii 574.09) 1056195 F\=*->rr’»Vv lG.S73.Cai 9.537.:.: March 12.45i.CCC ic,623'.;::