OVERSEAS TRADE.

Manawatu Standard, Volume LIV, Issue 108, 6 April 1934, Page 5

OVERSEAS TRADE.

FEBRUARY AN ACTIVE MONTH

EXPORTS INCREASE IN

VALUE

February was a particularly active month for export trade in New Zealand, 180 overseas ships carrying 117,754 tons of cargo, clearing at various Dominion ports during the month, reports the Government Statistician. The value represented by exports in February was considerably greater than in that month of last year, higher per unit values of wool, mutton, and lamb more than counteracting the effect of a slightly lower volume of exports of these commodities. Tn the case of wool the effect of higher prices is particularly marked, 139,987 bales exported during February, 1934, representing a total value of £2,671,362, as compared with declared value of £1,210,720 in respect of 140,500 bales exported in February, 1933. The export of cheese was definitely lower both in quantity and in value than in February, 1933, while butter exports were considerably heavier in quantity and in value than in the same month of last year.

The cumulative value of exports during the first eight months of the production year was £29,000,000 in New Zealand currency, equivalent to £23.2 million in sterling as compared with £21.8 million in New Zealand currency, or £l9 million in sterling during the same period of 1932-33. It would appear, then, that the full season’s total value of exports will be materially in advance of that reached during the 1932-33 season.

The export season is rapidly approaching its zenith, February, March, and April normally being the peak months of the year. Exports (excluding specie) during February, 1934, were valued at £6,249,026 in New Zealand currency, equivalent to £4,999,000 on a sterling basis—the highest monthly total in New Zealand currency since January, 1930; and, on a sterling basis, since March. 1930. The value of exports is still, however, considerably below the totals recorded during the peak years, the value during February of 1928 and 1929, for example, being £7,842,822 and £8,056,083 respectively. Nevertheless the position shows a very marked improvement when Compared with 1931, 1932, and 1933. The following comparison of the Dominion’s main exports in February, 1933 and 1.934, is of interest:— -Feb 1933 Fob. 1934—. Declared Declared Quantity. Value. Quantity. Value. Cwt. £ (N.Z.) Cwt. £ (N.Z.) Butter 137,735 593,338 389,502 1,388,806 Cheese 183,236 455,353 180,438 432,989 Lamb 328,532 778,303 278,771 824,328 Mutton 101,992 144,634 99,742 167,024 • Bales. Bales. Wool 140,500 1,210,720 139,987 2,671,362

The striking improvement in the return from wool exported is the outstanding feature of February export statistics. Lamb and mutton also show a considerable improvement as compared with the position twelve months ago; the increased return from exports of butter, however, being purely a reflection of an abnormally heavy quantity exported during February of this year. The recorded value of imports (excluding specie) during February, was £1,592,689, equivalent to £1,945,000 on a New Zealand currency basis, and to £1,556,000 on a sterling basis. The value of imports during the month was slightly below that for the corresponding month of Inst year.