THE DOMINION'S TRADE.

New Zealand Herald, Volume LVII, Issue 17594, 6 October 1920, Page 6

THE DOMINION'S TRADE.

, Returns for August show that a new record for a single month has been made in the value of imports into .the Dominion. As assessed for customs purposes, .the month's deliveries are valued at £6,167,946. 'This figure is 47 per cent, higher than the average for the previous seven months, and the total for eight, months exceeds that for the corresponding period of. last year by 79, per cent., and is actually 16 per cent, greater than the total imports during the whole of 1919. On the other hand, exports during August show a decline in comparison with the July returns, and the total for eight months is 15 per cent., below that for the corresponding period of 1919. The following table shows the returns* for each month of this year: ■ /" „. ■ \ Excess of ■■' Exports. Imports. Imports. January ..£ 4,348.979' £2,945.537 £1.403.442* February.. 2.748,603 2,983,303 234,700 March" ..4.321.206 3,862jai „, 458,985* .April -.. 3,694.015 4,268,404 674,389 May .i 4,368,155 4.902,668 -. 534,513 June .. 3,443.914 5,230,541 , 1,792.627 July v•,. 4,269.826 - 5,143,698 . 873,872 August ■.'.... -6,167,946 2,174.826 Totals. . £31,087,818 £35,510,318 £4,422,500 • • 'Excess of exports.

: The ■'. external trade of the first eight months of 1919 amounted to £56,406,747 i' this year the total, is

£66,598,136. -Last year -the balance was in favour of the Dominion to the extent of nearly £18,000,000, but this year there is an adverse balance of nearly £4,500,000, representing over £11,500,000 if allowance is made for the cost of freight and other charges grouped in the official returns by arbitrary and misleading under-estimates. A heavy expansion of imports is necessary if the depleted stocks in the Dominion, are to be replenished, but the. detailed, returns convey the impression that there is a tendency toward excessive importations of certain commodities. It is evident from the statements of customs duties collected in September that the inflow of goods is continuing, and without any corresponding expansion of the export trade the adverse balance is probably larger than the available statistics indicate. The disparity between the* sales of the Dominion's produce and its purchases abroad should receive the careful attention of commercial and financial authorities. It is to be hoped measures will soon be taken to collect statistics that will show the landed cost of all imported goods, so that a reliable comparison may be made between imports and exports.