FINANCES OF FIJI.

New Zealand Herald, Volume LXIX, Issue 21118, 27 February 1932, Page 13

FINANCES OF FIJI.

DROP IN CUSTOMS REVENUE. THIS YEAR'S GOOD PROSPECTS. [from our own correspondent.] SUVA, Feb. 17. A deficit of £44,000 for the year 1931 and a reduction in the surplus balance from £187,500 to £143,500 were the principal items of interest in the address delivered by the Governor at > the opening session of the Fiji Legislative Council yesterday. Although the detailed financial figures are not yet ready approximate figures were available. These showed revenue at £557,000; expenditure, £601,000; deficit, £44,000. The revenue received from customs was £275,842, being £28,468 below the original estimate, and £4842 above the revised figure. This gain, however, has been offset by decreases in residential tax and in various payments due to the Government for services rendered. The trade figures are as follows (1930 figures being given in parentheses): — Exports, £1,000,187 (£1,484,526); decrease, £484,339. Imports: £929,514 (£1,219,184); decrease, £289,670. Local trade: £784,009.

Sugar exports went down from 90,979 tons in 1930, to 67,937 tons in .1931, the average value per ton in both years being £9 7s 8d and £9 3s 9d respectively. The export of copra amounted to 16,917 tons, compared with 23.882 tons in 1930. The average price per ton in 1930 was £ls 9s 6d, and £lO 12s 2d in 1931. Bananas increased from 84,522 cases to 97,410, the value in each year being approximately £57,000. His Excellency remarked on the good prospects for the coming year consequent upon favourable production conditions and better prices for copra; the latter commodity having advanced by £4 per ton since the council last met. Reference was also made to the preference granted to the colonies by the Imperial Government, and particulai stress in predicting an improvement was laid on the fact that the Secretary of State for the Colonies has asked the colony to advise him of any preference in any Dominion markets which may be of real value to it, in order that the occasion of the Ottawa Conference may be used to further the colony's interests. His Excellency added that steps are being taken to comply with these instructions.