INCREASED IMPORTATIONS.

New Zealand Herald, Volume LX, Issue 18551, 8 November 1923, Page 8

INCREASED IMPORTATIONS.

The fact that importations into New Zealand during July, August, and September exceeded £10,000,000 is a striking confirmation of the various warnings that have been given against the risks of accumulating excessive stocks. The total for the quarter was actually restricted by the late arrival of shipping affected by the London dock strike, with the result that the figure for September was slightly lower than those for the two preceding months, and also below that for September last year. Nevertheless the recorded value of deliveries in the quarter was remarkably high, and as exports declined, there was an adverse balance for the quarter of £3,780,000. Comparative figures for the spring quarter of recent years are as follow :

_ • _ . _ Excecs of July-Sept. Exports. Imports. Imports. 1923 ... 6,508.773 10,291,063 3,782,290 1922 ... 8.253.429 8.912,437 659.008 1921 ... 9,261.920 7,212,008 *2,049,912 1920 ... 12.360.695 18,980,970 6,620,275 •Excess of export*. As imports have never fallen below £3,000,000 a month, the total for the nine months to September is £31,482,000, an increase of nearly £6,000,000 over the corresponding period of last year, while exports, amounting to £37,591,000, show an increase of only £2,500,000. The striking feature of the quarter's returns is that importations of motor-cars account for £750,000 compared with £226,000 in the spring months of last year, the rate of importation having been much heavier than during the first half of the year, for which the total was £1,008,000. With this exception, the increase appears to be widely distributed among a great variety of commodities, while some show curtailment. The position does, however, indicate the need for caution among all engaged in trading enterprises. Reference has previously been made to the delay in the publication of these returns, which do not appear until six weeks after the close of the period to which they refer. Their value to the commercial world would bo greatly enhanced if they were made available earlier, an improvement that does not seem impracticable.