GROWTH OF IMPORTS

New Zealand Herald, Volume LXVII, Issue 20561, 12 May 1930, Page 13

GROWTH OF IMPORTS

MOTOR TRADE EXPANSION

OVER £7,700,000 SPENT.

SOFT GOODS SHOW INCREASE

Substantial increases occurred in several important classes of imports during tho year ended March 31, when, owing to the shrinkage in the value of the Dominion's exports, a curtailment of imports would have been necessary in order to maintain the trade balance on tho desired side. The value of imports was £49,167,914, an increase of £4,062,049 upon that for the previous year, and exports fell £8,108,526 to a total of £49,045.817, leaving an excess of imports of £122,097 compared with an excess of exports of £12,048,478 in 1928-29.

The most notable increase in the year's imports was associated with tho motor trade, the value of motor vehicles imported increasing by £609,200 to £3.928,900, and that of motor spirit by £555,700. The amount spent on the latter was £2,201,500, while lubricating oil accounted for a further £343,300. Tyres, tubes and covers cost £1.043,300, and other parts, £272,900. Totalling those items it. is found that tho motor industry, in all its branches, accounted for moro than one-seventh of tho Dominion's imports last year, tho approximate figure being £7,790,000. This was an increase of £1,230,500 upon the valuo of tho same items in the previous year.

The. increase in last year's imports was, however, practically an all-round one. Apparel and ready-made clothing, which was tho largest single item after motor vehicles, was also prominent in the list of increases, tho value having risen by £186,800 to £2,366,800. Two other classes of soft goods showed substantial increases. Cotton piece goods cost £1,976.900, a rise of £87,700, and silks, etc., £1,275,100, an increase o£ no less than £240,100. On tho other hand, woollen piece goods showed a decrease of £66,200, and hosiery, on which over half a million pounds is spent annually, fell £12,200.

Cigarettes wero among tho few items which declined in value, the decrease being £117,700, and tho total value £591,800. Tobacco, on which £739,900 was spent, fell to tho lesser extent of £23,100. Tho other principal declines were:—Coal, £124,800: bags and sacks, £77,800; sugar, £65,800; and dairying machinery, £43,500.