OVERSEAS TRADE

New Zealand Herald, Volume LXXII, Issue 22145, 26 June 1935, Page 7

OVERSEAS TRADE

THE RETURNS FOR MAT SMALL FALL IN EXPORTS HIGHER VALUE OF IMPORTS A slight decrease in the value of exports during May, compared with the figure for the corresponding month last year, is disclosed by the preliminary returns of overseas trade issued bv the Customs Department in Wellington yesterday . The valuation of commodity exports, excluding specie, was £4,236,000 in New Zealand currency, compared with £4,710,000 for May last y?ar. The imports, also valued in New Zealand currency, are £680,000 higher in value than for May last year, the figure being £3,024,000, compared with £2,343,000. The excess of exports, £1,302,000, was considerably below the figure, £2,367,000, recorded last year, and was still well above the total of £1,047,000 in 1933. The figures for May in the past three years are; — Exports Imports Excess 1933 . £3,120,000 £2,073,000 £1,047,000 1934 . . 4,710.000 2.343,000 2,367,000 1935 . . 4,320,000 3,024,000 1,302,000 The calendar year, so far as it is covered by returns, shows a decrease in export values compared with the corresponding portion of 1934 of some £4,300,000. In the same period imports have increased by approximately £2,330,000 above those of last year. The visible commodity balance, expressed in New Zealand currency, £9,520,000, is thus very much below the figure of £16,175,000 established by the end of May last year. It is, however, £450,000 greater than the excess of exports in 1933, increased imports being more than compensated for_ by a rise in export values. A comparison of the five months ended May in the past three years is as follows: — Jan.- _ , _ Mav Exports-; Imports Excess 19351 . . £19,662,000 £10,592,000 £9,070.000 1934 . . 28,203,000 12,023.000 16,175.000 193r> .. 23,582,000 14,362,000 9,520,000 For the eleven months of the production year, which is from July to June, the reduction of the favourable trade balance is even more marked. There is also a substantial fall in the excess of exports compared with .the figure in 1932-33, a reduction in exports as well as a rise in imports contributing to the result. Comparison with previous seasons is as follows; — Mav Exports Imports Excess 1932-33 £40.591.000 £27,364.,000 £13,227,000 1933-34 45,846,000 24,974,000 20.572.000 1934-35 39,726,000 ' 31,945,000 7,781.000 The value of specie exported during May, an item not included in the figures already given, was £210,000, and that of the imports was, £6OO. For the five months ended May, the exports were valued at £364,400 and the imports at £188,830.