OVERSEAS TRADE

New Zealand Herald, Volume LXXVII, Issue 23616, 28 March 1940, Page 12

OVERSEAS TRADE

FEBRUARY RETURNS EXPORTS £1,943,000 HIGHER IMPORTS DECREASE £1,448,000 The returns of overseas trade for February, a summary of which was issued by the Customs Department in Wellington yesterday, show exports valued at £1,913.000 more in New Zealand currency than for the corresponding month last year. The total is substantially the greatest for any February in the past five years, and exceeds tin- figure shown for the month since 1933. Imports, at £3,317.000, are £1,4-18,000 lower than in February last year. While they show the effects of control their value is still comparable with islie corresponding figure in 1937, and higher than that for February, 1936. Following is a comparison of the returns for February in the past live years, for commodities only, values being in New Zealand currency:— Excess of Exports Imports Exports Frti. <-• C Si. UKMS .. 5,1,000 5,1)80,000 2,205.000 1937 .. 7,731,000 3,713,000 '1,018,000 ID3S .. 5.710,00(1 '1,300,000 1,320,000 10311 .. 0,172,000 4,705,000 1,377,000 1010 .. 8,115,000 3,317,000 <1,708,000 Falling of Imports For the first " two months of the calendar year the tendencies shown by February alone are even more marked. Exports are £2,052,000 greater than for the same portion of last year, and tin; highest for the comparable period back to 1936, with the'exception of the lirst two months in 1937, when the total was £33(5,000 greater. Imports show the falling tendency by being £2.188,000 lower in value than for January-February last year and smaller than in any similar period, except for 1936. in the past five years. A comparison of the January-Feb-ruary aggregates since 1936 is as follows:—

Excess of Jan.- Exports Imports Exports Felt. £ £ i 193(5 .. 13,829,000 7,310.000 6,510,000 ] 937 .. 1-1.771,000 8,.'578.000 6,393,000 1938 1:1,209,000 9.080,000 3,229,000 1939.. 12,383,000 0,5 IS,OOO 2,805,000 1010 .. 14,435,000 7,330,000 7,105,000 The Production Year

For tlic first eight months of the production year, which opens in July, exports are £2,210,000 greater than for tlic same portion of the previous season. While they are still approximately £2.000,000 below the totals in 1936-37 and 1937-38 they are substantially higher than the values in the three preceding seasons. Imports for the period show the decided efforts of restriction. being £9.301.000 less in value than fo:r the corresponding portion of last production year. As a consequence there is a favourable commodity balance of £7.132.000, in contrast with an adverse balance of £4.379.000 last year. The figures for the eight months, compared with those in the preceding six seasons, are:— Excess of .Tiilv- Exports Imports Exports Feb. £ £ C 1! 133-3-1 28/171.000 -17.751,000 11,223.000 1931-35 25.371.000 23,1 SI ,000 2,193,000 1035-30 30.778.000 20,153,000 4,020,000 19.3(5-37 37,293.000 32,052.000 4,011.000 1937-38 37,822.000 40,414,000 *2,592.000 1938-39 33.152,000 37,831.000 *4.379.000 1939-10 35,002,.000 28.530,000 7,132,000 •Excess of imports. There were neither exports nor imports of specie during February.