AUSTRALIAN TRADE

New Zealand Herald, Volume LXIX, Issue 21295, 23 September 1932, Page 9

AUSTRALIAN TRADE

STATISTICS FOR JULY i ! INCREASE IN IMPORTS ) 1 [FROM OUB OWN CORRESPONDENT'] [ SYDNEY, Sept. 8 Returns of overseas trade of Australia for July show a falling-off of exports, and an increase in imports, compared with the corresponding month last year. Exports, valued in Australian currency, were £4,884,000, compared with £5,660,000' in July, 1931. Imports, valued in sterling, totalled £4,642,000, against £3,130,000 in July last year, and are the highest for 18 months. The value was £861,000 more than the average monthly figure for the year ended June 30. Exports of merchandise, expressed in sterling, decreased by £445,000, and im- | ports of merchandise increased by £1,454,000, resulting in an adverse commodity balance of £643,000, which compares with a favourable commodity balance of £1,256,000 for July, 1531. The Acting-Commonwealth Statistician, Professor L. F. Giblin, points out that nominally an excess of imports can be expected during July and August, in which months exports are usually at a low ebb, but in July this year the position has been aggravated by the holding back of exports for better prices, and by an increasing flow of imports for replenishing stocks. The principal increases in imports were in textiles, metal manufactures, drugs and chemicals, paper and stationery, machinery, oils and yarns. Among exports the decreases included wool, wheat and flour, beef, lamb, mutton, sugar, and hides and skins WHEAT PRODUCTION ESTIMATE OF YIELD [from our own CORRESPONDENT] SYDNEY, Sept. 8 From the point of view of production the wheat position in Australia is regarded as very encouraging. In New South Wales recent rains brightened the prospects very considerably, and made a good kirvest fairly certain. Unofficially, a definite yield of 45,000,000 bushels is confidently relied upon, with a possible increase to 50,000,000 bushels, providing there are favourable conditions in tho next seven or eight weeks. • An analysis of tho position in the other States reveals equally encouraging prospects. Western Australia appears certain to reach 45,000,000 bushels; South Australia, 45,000,000 to 50*000,000; and Victoria 45,000,000 to 50,000,000 bushels. The minor yields of Queensland and Tasmania are not calculated, Tho total yield of Australia should bo, approximately 180,000,000 bushels, and if general rains fall this month 200,000,000 bushels may be reached. Estimating the harvest of tho Commonwealth at 180,000,000 bushels, however, and allowing 50,000,000 bushels for home consumption, there would be an exportable surplus of 130,000,000 bushels.