DOMINION TRADE

Otago Daily Times, Issue 22284, 9 June 1934, Page 15

DOMINION TRADE

THE FIGURES FOR APRIL SMALLER SEASONAL FALL Most statistical aeries indicative; of .the state of business in April-show recessions as compared with. March, which is normally.,one of the peak months of the year, states the Abstract of Statistics.; and, with the advent of winter, further seasonal declines may be expected to be recorded (hiring the next few months. The seasonal fall in business activity between March and April appears, however, to-be considerably less this year than in iieSeht previous years.. •,' • -v ,' ; '.;■; " EXTERNAL TRADE. ' Statistics of- external trade indicate a lower total volume of overseas trade in April as compared with March, but both exports ' and imports show considerably higher total values than in April of last year. Although export trade falls away in the winter and early spring months the import commodity trade of the Dominion does not normally show any marked "off season" decrease, and, consequently, it is normal for the considerable monthly excess of export -values shown in the early months of the year to decrease rapidly from March onwards until, in the months of September and October, ah excess of commodity imports is -usually revealed. The fall in the value Of exports between March and April was £1,346,651, as compared with a fall of only £52,000 (New Zealand currency basis) in import values; and this lessening of the present wide gap between monthly totals of export and import values may be expected to accelerate rapidly during the next few months. THE WOOL TRADE. The month of April marks the close of the wool selling season, a total gross realisation of £10,241,041 at sales held during the season just passed being .reported by the Woolbrokers' Association, as compared with £4,204,430 in the 1932-33 selling season. Exchange of wool during the 10 months ending with April totalled 248,000,0001 b (valued at £11,700,000), equivalent to 267,000,0001 b in the grease. This figure is in excess of the production that niight have been expected from the reduced flocks, and it appears reasonable to conclude that stocks of wool'at June 30, 1934, will.be substantially lower than at June 30, 1933, when they amounted to 78,600,0001 b. The export season has still two months to : run. • BANKING AND BUSINESS, ■ Banking statistics for the month, of April show a slightly lower value of bank debits to individual customers' accounts, increases in free and fixed deposits, and a slight fall in: advances. Land transfers and mortgage business was in each case substantially lower in April than' " in March; while building permits issued in April represented only £146,822 in value, as compared with £613,297 in March. Th e March figure was exceptionally high, however, owing to the inclusion of a particularly large undertaking ' in . that month's total. Sales tax receipts during April totalled £168,313, an increase of £5897 over the March figure. Receipts of sales tax during April would in general be on account of wholesale sales made in March, so that the increase shown between the March and April yields from this tax indicates a greater aggregate value of wholesale transactions in March than in February. OVERSEAS TRADE.

Exports (excluding specie) for the month of April amounted to £5,408,418 in New Zealand currency, equivalent to £4,327,000 on a sterling basis. The .'decrease in the amount of wool exported during April was the predominant influence exerted in bringing about the reduction of £1,346,651 in the recorded value of exports as compared with' the previous month. Exports of butter showed an increase of 63,697 cwt iu quantity and £229,753 in value as com* pared with March. For the four-monthly peiiod ending : with April the recorded value of exports amounted to £23,493,051, or £18,795,000 in sterling, as compared with £16.542,023 (New Zealand currency) and £13,233.000 (sterling) for a similar period of 1933. . ... Imports show a slight recession for the mouth under review, the recorded value (excluding specie) being £1,978,987, equivalent to £2,414.000 in New Zealand currency and £1,932,000 in sterling. Nevertheless, the total is nearly 35 per cent, in excess of that recorded for the month of April, 1933. The excess of exports for the 12 months endine with Apri], 1934, amounted to £21,210,000 in New Zealand currency, equivalent to £16,968,000 in sterling, while the excess for the year eriding with April, 1933, amounted to, £11,277,000 . and £9,370,000 respectively.