DOMINION TRADE

Otago Daily Times, Issue 23947, 24 October 1939, Page 8

DOMINION TRADE

DECLINE RECORDED LESS DAIRY PRODUCE REDUCTION IN IMPORTS Mainly because of a decrease in both quantity and value of dairy products and lamb. Dominion exports fell in value by over £4,000,000 last export year, ended June 30. 1939. Imports also declined over the full period, but there was an increase in the second half of the period. Exports of merchandise for the 12 months ended June 30, 1939, were valued at £57,851,312, compared with £61.919,913 for the previous year, a decrease of £4,068,601, states the quarterly bulletin of the Department of Industries and Commerce. This decrease is mainly accounted for by a decrease in both quantity and value of exports of butter cheese and lamb. Butter exports in 1938-39 amounted to 2,467,776 cwt, valued at £15,833,843. compared with 2,917,746 cwt, of a total value of £18.284,603 in 1937-38. The decreases were therefore, 449,970 cwt, or £2,450,760. Cheese declined by 91,589 cwt and £363,202 for quantity and value respectively, compared with 1937-38. Exports of frozen lamb fell by 213,143 cwt, or £991,375. Included among the items showing increases over 1937-38 were wool (£573,473), beef (£310,550). and gold (". 137.328).

Imports at £56.499,607 were slightly less than during the 12 months ended June, 1938 (£57,542.606). The foregoing figures are exclusive of specie, exports of which during the 12 months ended June 30. 1939, amounted to £33,850, while imports during the same period amounted to £16,793. The total increase in imports during January-June, 1939, compared with the same period of 1938, amounted to £1,077,418, and was shared by British countries to the extent of £918,251 and by foreign countries to the extent of £ 159,167. Imports from Empire and foreign countries amounted to 74.3 per cent, and 25.7 per cent, respectively, against 73.9 per cent, and 26.1 per cent, during the previous comparative six months. Twelve countries shared the increase referred to above, the most outstanding being Canada (£508,485), United Kingdom (£497.647) and Netherlands East Indies (£455,729). Importations from "other" British countries showed a slight increase. The only decreases worthy of note were U.S.A. (£170,852), Australia (£163.812) and "other" foreign countries (£228,450). The 12-monthly figures reveal, a decrease of £1,042,999 in total imports Empire countries and foreign countries snared in the decrease by £558,657 and £484,342 respectively, as compared with the year ended June, 1938. Empire countries contributed 73.8 per cent, of total imports, and foreign countries 26.2 per cent, compared with 73.4 per cent, and 26.6 per cent, respectively for the year ended June, 1938.