TRADE BALANCE

New Zealand Herald, Volume LXXI, Issue 21857, 20 July 1934, Page 12

TRADE BALANCE

THE PRODUCTION YEAR EXCESS OF OVER £26,000,000 RECORD APPARENT FIGURE IMPORT FALL CHECKED The'value of New Zealand exports, as shown by the returns of overseas trade for the 12 months ended June .'JO, is more than £11,000,000 greater than that for the similar period ended June .'3O last year. Jin ports at £22,027,900 are some £501,500 higher. The apparent favourable balance of £20,701,989 is a record figure for the Dominion. The nearest result in any year was in 1919, when the excess of exports was approximately £23,500,000. Returns for the month of June were issued by the Customs Department in Wellington yesterday. The valuation ot exports was £305,8-10 less than that for June last year and some £1,330,000 less than for May this year. The imports are also less than in May, the diflerencc being some £550,000 and, roughly, £IBO,OOO less than in Juno last year. Returns for June in recent years are as follows: —

Returns for the first six months of the calendar year show exports valued at £31,986,390. The corresponding figure for last year was £23,058,395. The imports, £11,933,770, compared with £10,457,193, the total for the corresponding half of 1933, show a measure of recovery from the continued shrinkage which has persisted since 1930. A summary of the returns for the first six months of the past eight years is as follows: —

The apparent favourable balance has shot up by nearly £7,000,000 compared with the first half of 1933 and has exceeded the high figures recorded in 1928 and 1929, when exports were at a very heavy valuation. In the 12 months corresponding with the season of production and export, the value of exports has been £49,629,946, compared with £3B,'' ">,651 last year. Tho figure is also higher by more than £14,000,000 than for 193?. It is, in fact, greater than for any year since 1929, though the ch.vige in currency values must be reme 1 jbcred when comparisons are takeiv. further back than last year. Import:? show a slight measure of recovery compared with those for last year, but with that exception are by far tho lowest for a decade. Returns for the past 10 production years, with totals for periods of five years, are as follows:

1HBIHG1K11

JanExcess Juno Exports Imports 1927 . £30,592,341 £22.200,704 £8,391.037 1923 . 37,715,272 20,915,700 16,799,572 1929 . 37,771,541 22,537,443 15,234,093 1930 . 29,780,091 22,507,543 7,213.148 1931 . 21,784,976 12,915,305 8,869,671 1932 . 22,178,521. 11,165,823 11,012,698 1933 . 23,658,395 10,457,193 13.201,202 1934 . 31,986,390 11,933,770 20,052,620

Yrnr to •Tune 30 Exports Imports Excess 1925 . . £57.449,970 £50,598,485 £0,551,491 1920 . . 40,330.817 52.157,702 5,820.855* 1927 . . 40,395,082 47,373,0S7 978,005* 1928 . . 55.019,285 43,497,912 12,121.343 1929 . . 50,214,750 40.50S.009 9,730,741 Totals £202,015,910 £240,435,825 £21,610.115 1930 . . £47,588,213 £48,828,077 £1.239,864* 1931 . . 30,914,977 33,373,070 3,571.301 1932 . . 35,540.573 23.003,470 12,483.097 1933 . . 33,445,054 22,330.470 10,109.178 1934 . . 49,029.910 22,927,959 20.701.987 Totals £208,155,3G3 £ 150,529,001 £57,625,099 •Excess of imports As the official figures are expressed in New Zealand currency for exports and in sterling for imports, direct coinparisons do not indicate the true position. An adjustment shows the export season which closed on June .'50 to have produced a surplus of approximately £17,096,000 in London.