HIGH IMPORTS

New Zealand Herald, Volume LXXV, Issue 23034, 11 May 1938, Page 17

HIGH IMPORTS

12 MONTHS' FIGURES INCREASE OF £10,000,000 LOWER COMMODITY BALANCE FALL OF £5,671,000 SHOWN The overseas trade of New Zealand for the 12 months ended March 31 resulted in an excess of exports over imports valued at £6,943,000 in New Zealand currency. This is the visible commodity balance, the value of specie being left out in arriving at the total. For the month of March, concerning which preliminary figures were issued by the Customs Department in Wellington yesterday, exports were valued at £2,459.000 more than imports compared with £'2,903,000 in the corresponding month last year, and £4,410,000 in 1936. The exports are the second highest recorded in March during the past six years, being exceeded only in 1937, when the value was £143,000 greater. The imports are higher than in any March without exception since 1933, being more than double the value of the total in that year, and almost twice the figure for March, .1934. The following table shows the trade figures for March in the past six years, commodities only, with specie excluded :—•

„ , . Excess of ~ . Exports Imports Exports March £ £ £ 1933 .. 5,302,000 2,243,000 3,140,000 !„o 4 " 6.7.',5,000 2,4(30,000 4,280,000 1035 . 6,3 31,000 2,843,000 3,288,000 1036 .. 7,448,000 3.038,000 4.410.000 1037 .. 7J509,000 4,606,000 2,003,000 1038 .. 7,306,000 1,007,000 2.450.000 The Quarter's Figures

A similar comparison for the three months, January to March, in the past six years is as follows:

Jan.- Exports Imports Excess Mar. i £ £ 1933 .. 13,(118,000 6,716,000 0.332.000 1031 .. 38,085,000 7,271,000 10,814,000 1035 .. 15,660,000 8,400,000 7.161,000 1036 .. 18,798,000 0,622,000 0.176,000 1037 .. 22,280,000 1 2,084,000 0.206,000 1038 .. 20,575,000 14.887,000 5.688.000 For the 12 months ended March 31 the exce.ss of exports over imports is valued at £6,943,000, or £5,671,000 less than the corresponding figure last year. Lxports, at £65,008,000, are very substantially the highest in value since 1930 and nearly double the total for 1932, the lowest iu that period. An increase of £10,444,000 in imports not only makes the total also the highest in nine years, but reduces the commodity balance to the level already stated. Since 1926, the first year lor which exports have been valued in NewZealand currency, 1937 and 1938 are the only two in which the exports for the 12 months ended March 31 have exceeded £60,000,000. The nearest previous total to that figure was in 1928-29, when the valuation was £56,526,000. Nine Years Compared Ihe table which follows gives the figures for the year ended March 31 in each of the nine j'ears shown:— Exports Imports Excess •t c £

1930 .. 48,412,000 40,430,000 *1,018,000 1031 .. 39,527,000 3f1.8R3.000 *306,0(H) 1032 .. 33,913,000 24.761.U00 0,182,0(H) J933 .. 37,510,000 25,059,000 12,451,000 1034 .. 46,043,000 26,136,000 10,907,000 1935 .. 44,918,000 32,568,000 12,350,000 1936 . . 49,676,000 37,410,000 12,236,000 1937 .. 60,235,000 47,621,000 12,614,000 1035 . . 65,008,000 --58,005,000 6,013,000 •Excess of imports.

Returns for the first nine months of the production year, which extends from July to June, show an increase of £386,000 in export values compared with the corresponding portion of 193637. The import total having risen by £8,063,000, there is an excess of imports of £133,000 for the period, compared with an excess of £7,544,000 in the value of exports the year before. A comparison of the results in the past six years is as follows:

July- Exports Imports Excess March £ £ £ 1932-33 27,150,000 10,373,000 7,783,000 1033-34 35,720,000 20,217,000 15,512,000 1034-35 51.505.000 20,024,000 5,481 000 1935-36 38,226,000 29,100,000 9,036,000 1930-37 44,802,000 37,258,000 7,544,000 1937-38 45,188,000 45,321,000 *133.000 •Excess of imports.

There were no exports specie in March, the imports being valued at £18,600. For the three months ended March .31 the exports were £SOO and the imports £21,079.