OVERSEAS TRADE

New Zealand Herald, Volume LXXII, Issue 22032, 12 February 1935, Page 11

OVERSEAS TRADE

EXPANSION LAST YEAR WOOL HIGHEST IN VALUE IMPORT TOTAL INCREASES GROWTH IN MOTOR INDUSTRY Wool displaced butter as the most valuable commodity in the aggregate exported from New Zealand during the calendar year 1934, according to trade statistics / now available. This was due to the comparatively high prices for the great bulk of the wool exports in 1934, but lower values have been recorded for the 1934-35 clip. Exports of the principal commodities, in value, and in value per cwt. . are as follows, in New Zealand currency:— Per cwt. 1933 1934 1933 1934 £ £ £ £ Wool .. 7.422,2,06 32.516,425 2.90 5.48 Lamb .. 6,678,161 7.903.337 2.37 3.06 Mutton .. 1,310.375 1.595,564 1.32 1.77 ■Butter .. 11,648,699 10,042.776 4.42 3.84 Cheese .. 4,766.351 4,694.459 2.40 2.37 •Gold .. 1,320.690 1.281.612 - 'The quantity of pold (not including reexports) exported in 1P34 was ]62,4900z., •gainst 177.2410z. in 1933. Larger Favourable Balance Total exports, excluding specie, during 1934, were valued at £47,.'142,847 in New Zealand currency and on the same basis imports were valued at £31,281,000, representing a recorded import total of £2-5,719,266. On a New Zealand currency basis the favourable balance was £16.062,000, compared with £15,425.000 in 1933, and in terms of sterling it was £12,556,000, against £12,340.000. Exports in 1934 were £6,336,928 higher than in 1933. Variation in quantities was not a principal factor, the increase being due mainly to higher •prices for wool and meat. Apart from the commodities included in the foregoing table,' other sizeable increases in value were recorded in pork, a rise of £463,805; sausage casings, £230.933; sheepskins, £206,553; cattle hides, £85,631.; ■* timber, £83,024; apples, £61,034; dried milk, £57,961; and casein, £55,924. Apart from butter and cheese, the heaviest decreases in declared value were shown by wheat, a decline of £138,756, and veal, £78,853. Features of Import Trade

The increase in the recorded value of imports in 1934, against the previous year,' was £4.692,588, the rise being associated mainly with the motor trade. The number of motor-vehicles imported increased from 3868 to 14,415 and the declared value from £532,476 to £1,809,574. The value of tyres imported increased from £488,467 to £578.552 and of other parts from £86,582 to £163,029. Although the quantity of motor-spirit increased by 9,213,759 gallohs, the declared value fell by £8248. Licensed motor-vehicles in the Dominion increased from 188.954 at December 31, 1933, to 200.577 at December 31, 1934. ' Increases in value of imports were recorded in the following principal commodities (1934 figures shown first with those for 1933 in parentheses):— Apparel Rnd ready-made clothing, £837,593 (£763,757); silk and artificial silk piece goods, £772,230 (£587,207); electrical machinery and equipment, £762,458 (£606,680); paper, other than newsprint, £587,686 (£485,286); tea, £580,105 (£498,596); and woollen piece goods, £539,866 (£428,982). Possibly the heaviest decrease was shown in imports of phosphates, which declined in value from £422,488 to £297,133.

A survey of monthly trade figures shows that increases in exports were confined practically to the first half of 1934 and have been succeeded by decreases. The excess of 193-1 imports ever those of 1933 continued to expand throughout the year. In five of the last six months of 1934, imports exceeded exports.