FAVOURABLE BALANCE

Manawatu Standard, Volume LIII, Issue 252, 21 September 1933, Page 10

FAVOURABLE BALANCE

THE DOMINION’S TRADE. INTERESTING ANALYSIS. „ WELLINGTON, Sept. 20. The main features of the overseas trade figures for August, released yesterday by the Customs Department, are a further improvement in export values, a continuing decline on imports. and a very substantial balance for tlie eight months of the year in terms of New Zealand currency. Exports last month were valued in New Zealand currency, at £2,630,639, compared with £2,589,359 for August, 1932, an increase of £41,280, this being largely due to increased exports of wool and improved prices for dairy produce. Imports showed a large falling off compared with those for August, 1932. The value of last month’s imports was £1,765,945, compared with £1,912,009 for August, 1932, a decrease of £146,604. The trend of the Dominion’s overseas trade is more clearly shown by the figures for the eight months of the year ended August 31. The value of the exports for that period was £29,665,739, an increase of £2,491,883 compared with those for the corresponding period of last year. On the other hand imports at £13,662,045 showed a decrease of £1,248,124 compared with those for the eight months of 1932. The position is shown in the following comparative table : Eight months to Aug.3l 1932. 1933. Increase. £ £ £ Exports ... 27,173,856 29,665,739 2,491,863 Imports .... 14,910,169 13,662,045 *1,248,124 ‘Decrease. The values recorded for exports are the declared f.o.b. values in terms of New Zealand currency, while the values recorded for imports are the current domestic values in the countries of export, plus 10 per cent. The favourable balance of trade in terms of New Zealand currency (excluding specie) for the eight months of this year was £12,903,(Xa), compared with £9,895,000 for the corresponding period of last year. Exports during the last eight months are valued at a higher figure than at any time since 1930. The import values are the lowest recorded for many years and are well below one-half of those for the eight months of 1930. The balance in terms of New Zealand currency (excluding specie) is easily the highest for the decade.