TRADE OF AUSTRALIA.
FIGURES FOR HALF YEAR. AN ADVERSE BALANCE. CAN BERK A, July 29. The oversea trading of the Commonwealth in merchandise for the half year ended June 30 last, resulted in an adverse balance of £8.318,334. Imports were valued at, £56,142.979 and exports at £47.824.645. The figures show that nominally there was a favourable trade balance for the half year of £8.572.842, but during the six months bullion and specie valued at £17.065.938 were sent abroad, while £174,762 worth was imported.
The recorded value of exports of merchandise, under £48,000.000, i'or the six months shows a. severe fall in comparison with the corresponding period of last year, when the. total was £73.446.000. As against the fall of over £25.000.000 in exports. imports at £56,318,000 are nearly £14.000.000 less. Following is a summary for the last three fiscal years ended June 30 of exports of merchandise and of gold and of total imports, the latter including gold:— Export?. Imports. Merchandise. Gold. Total. 1927-28 1 139,472.322 £3.740,748 £117.944,970 ID-2S-29 . . J40,853.655 3,026.520 143.647.551 1929-30 . 97,321.350 2G,253,2GS 131.151.16S Imports exceeded the total value of exports by £4,731,900 in 1927-28, but in 1928-29 there was an apparent favourable balance of £1.202,571 for the first time since 1924-25. The returns for the last year show that in merchandise alone, there was an excess of imports of £33,521,991. Even with the huge export of gold, drawn from the reserve stocks of Australia, there was an adverse balance for the year of £7.546.544. The effect of the various remedial measures that have been in operation during recent months is best illustrated by the fact that the adverse balance of over £16,000,000 in the first half of the fiscal year has been reduced to less than half that figure. The Australian returns for the last eight vcars show an aggregate excess of import's of £63.650.298. For the same period the overseas trade of New Zealand shows an excess of exports of £30,835.000.
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New Zealand Herald, Volume LXVII, Issue 20629, 30 July 1930, Page 11
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325TRADE OF AUSTRALIA. New Zealand Herald, Volume LXVII, Issue 20629, 30 July 1930, Page 11
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