DECLINE IN TRADE

Otago Daily Times, Issue 22353, 29 August 1934, Page 5

DECLINE IN TRADE

FIGURES FOR WESTERN SAMOA INCREASED EXPORT OF BANANAS. (From Ouk Parliamentary Reporter.) WELLINGTON, August 28. The depressed condition of the world’s markets is reflected in the trade figures of Western Samoa. This is apparent from the annual report of the Administration', which states that the figures reveal a further decline of 2.70 per cent in trade as compared with 1932. Copra and cocoa values, says the report, are extremely low, arid, as these are the most important products of the group, local conditions cannot improve until there is a corresponding improve--inent, m the overseas markets. It is stated that the Administration has appreciated the position of growers, and that in November last the full export tax of £2 a ton and the,inspection fees of 3s 9d a ton on cocoa were temporarily remitted. In .addition, a simultaneous remission of 10s a ton of. the copra export duty was granted, thus reducing the tax'to £1 a ton. This was subsequently reduced further to 10s a ton. The trade figures for the year show the value of the. exports for 1933 at £173,837, compared with £]B3.0 Ok{ • 1932 and £194,447 for 1931. In 1927 the exports stood at £335,978, The toia. Samoan trade last year was valued at £324,(593, compared with £333,930 in 1932, £339,397 in 1031, and £040,347 in 1927. The banana trade, on the other hand, shows an improvement on the previous year. This is attributed in the report to the good reputation established by Samoan bananas on the New Zealand market, reflected by an increase of over 15,000 cases on the 1932 figures. TRADE OF NIUE ISLAND LOWER RETURN FROM COPRA EXPORTS. (From Our Parliamentary Kepobteb.) WELLINGTON, August 28.; As in the case of the Cook Islands and the mandated territory of Western Samoa, last year’s trade figures for Niue Island largely reflect the decreasing value of copra. The report of the island Administration, which was presented in the House of Representatives this afternoon, states that copra has-been in the past the island’s principal source of revenue, but during the last 12 months the market price has reached what is believed to have been a record low level. The loss to the Administration has been twofold in that the greatly reduced value has resulted in lessened-produc-tion. The total quantity exported dining the calendar year under review was 190 tons, valued at £I7OO, compared with an average of 522 tons valued at £8772 over the previous 10 years. Fortunately,'adds the report, the reduced value of copra, has been offset to a great, extent by the increased trade in bananas carried to -New Zealand by the Maui Pomarc. The exports in 1932 and 1933 amounted to 22,828 cases and 24,596 cases respectively, as compared with 8703 cases in 1931. While the small quantity shipped in 1931 was largely due to. the fact that the island was then recovering from the effects of a prolohged drought and heavy storms, the 1933 figure is the highest yet reached. The imports for the calendar year 1933 totalled £13,123,, and the exports £11,542. The figures for the previous year were’ £14,756 and £13,987 fe-. spectively. The total trade for the year .1933 was only £24,665, as compared with an average of £32,866 over the previous 10 years.