FIJI'S FINANCES

New Zealand Herald, Volume LXXV, Issue 23026, 2 May 1938, Page 5

FIJI'S FINANCES

GROWTH OF TRADE SURPLUS £63,232 LAST YEAR RECORD GOLD EXPORT i [from our own correspondent] SUVA, April 22 A very satisfactory position with regard to the finances and trade of the Colony of Fiji was revealed by the Governor, Sir Arthur Richards, in his address to members at the opening of the Legislative Council this morning. His Excellency gave a brief review of the position from the final figures for 1937. He said that total revenue, £947,'3-06, exceeded total expenditure, £378,104, by £69,232. The excess of assets over liabilities, which at January* 1, 1937, amounted to £472,894. was therefore increased by this amount of £69,232 to £512,126 at December 31, 1937, while at the same date the general reserve fund and the emergency reserve fund stood at £136,541 and £IIO.OOO respectively. Colony's Trade The total trade for the year 1937 was £3,974,401, this being £337,120, or 9.27 per cent, higher than for tho year 1936. Imports valued at £1,760,744 are the highest on record and, as compared with 1936, show an increase of £258,590j or 17.23 per cent, while exports valued at £2,213,657 are £75.230, or 3.66 per cent, higher than in 1936. The following table, showing the value of imports and exports for the past six years, gives some indication of the increased trade, more particularly during the years 1935 and 1937: Imports Exports 1932 .. £-857,346 £1,695, 96t 1933 .. 1,060,266 1,725,529 193 I .. 995, 204 1,456,455 1935 .. 1,257,287 1,820,306 1936 .. 1,501,854 2,135.427 1937 .. 1,760,744 2,213,057 Value of Sugar Higher Although the quantity of sugar exported was 11,172 tons less than in 1936, the value was £56,980 in excess of 1936. The decrease in quantity exported is partly accounted for by the fact that there was a larger carryover in 1937 than in previous years. The carry-over of 1937 production for shipment overseas in 1938 was 30,667 tons. Copra i-xported in 1937 ,showed a decrease of 4581 tons, but in value an increase of £961 over 1936. The production was greater than in 1936, but . there were fairly large stocks on hand I at shipping ports at the close of the - year. } The quantity and value of bananas , exported in 1937 was 22,053 bunches r and 152,347 cases, valued at £80,071. Although the quantity exported in 1937 was 2200 cases and 2234 bunches in excess of 1936, the value showed a decrease of £4477.

The quantity of gold bullion exported ill 19-'J7 Avas 21,4070z., valued at £166,115* and constitutes a lecord, the increase over 1936 being 43000z. and, in value, £.'14,431.