HEAVY EXPORT TRADE.

New Zealand Herald, Volume LXVI, Issue 20306, 13 July 1929, Page 10

HEAVY EXPORT TRADE.

THE PRODUCTION YEAR. BALANCE OF £9,737,000. TWO WONDERFUL SEASONS. OUTPUT OF £122,000,000. An addition of over £4,000,000 in June has increased the total valuation of exports in the 12 months enaed June 30, the production year, to £56,244,750, which shows an increase of £625,465 over the previous season. Although imports havo increased by £3,000,000, there is an apparent favourable balance of £9,736,741. Returns of overseas trade in June were issued by the Customs Department in Wellington yesterday, the details cornpared with those for Juno of last year being as follows : June 19-29. 1928. Increase. Exports .. £4,137,771 £3,'270,223 £861,551 Imports .. 3,425.365 3,161,038 264,327 Excess .. £712,409 £115,185 £507.224 The month's exports were exceptionally heavy, the valuation being the highest in June since 1923. While imports show an increase over the previous June, the total is otherwise the lowest for the month since 1922. The year opened with record exports in the first quarter, but by the end of May the total was about £300,000 below that for the first five months of 1928. The retrogression has now been balanced, the figures for six months showing an increase of £56,000. Following are comparative statistics for this period iq recent years:— Jan.-June. Exports. Imports. Excess. 1925 .. £38.398,263 £25,015,285 £13.382,978 1926 .. 29,472,834 24,716,580 4,756,254 1927 .. 30,592,341 22,200,704 8,391,63/ 1928 .. 37.715,272 20,915.700 16,799,572 1929 .. 37,771,541 22,537,443 15,231,093 As the 12 months ended June 30 correspond most nearly with the season of production, the trade returns for that period are the most instructive indication of the condition of tho country's commerce. With the returns now issued, a statement for tho 1928-29 production year can now bo presented in comparison with those for previous years as follows: Year to June 30. Exports. Imports. Excess. 1921 .. £50,821,881 £65,588,021 £14,766,140* 1922 .. 44,535,921 30,940,043 13,595,873 1923 .. 48,916,216 40,014,821 6,901,395 1924 .. 48,445,820 44,832,164 3,613,662 1925 .. 57,449,976 50.898,485 > 6,551,491 1926 .. 46,336,8-1 i 52,157,702 5,820,855* 1927 .. 46,395,082 47,373,687 978,605* 1928 .. 55,619,285 43,497,942 12,121,343 1929 .. 56,244,750 46,508,009 9.736,741 •Excess of Imports.

Although the season's exports have not achieved the record total established in 1924-25, it is remarkable that two seasons in succession have produced exports valued at £55.619,285 and £56,244,750. The aggregate of £121,864,000 in 24 months is unprecedented. For 1923 24 and 1924-25, the total was £105,895,800. Tho favourable balance for the two seasons is £21,858,000, a phenomenal result. The net result of the overseas trading in the six preceding seasons was an apparent favourable balance of £23,863.000, so that in the last two years, tho Dominion has gained nearly as much by its overseas trade as in six years—without counting changes in prico levels.