RISE IN IMPORTS

Otago Daily Times, Issue 26589, 11 October 1947, Page 8

RISE IN IMPORTS

DOMINION’S EXTERNAL TRADE

HIGHER PRICES REFLECTED “ Exports for May this year amounted to £12,408,000, compared with £10,681,000 for the same month of last year, while the imports for the comparable periods were £10,111,000 and. £5,736,000,” said the Minister of Finance and Customs, Mr Nash, in a statement issued to-day. The Minister added that the imports for May, 1947 exceeded those for May. 1946, by 75 per cent., and both the imports and exports closely approximated the records reached last month. “ While 'the values of both exports and imports reflect the increased prices overseas,” continued the statement, the volume of imports into New Zealand has "been considerably increased, as it is hoped to demonstrate in figures which will be available shortly. The main obstacle to an increased volume of imports at present is the shortage of goods overseas rather than the system of import licensing.” The comparative totals of exports and imports for 1946 and 1947 are as follows, the values being expressed in terms of New Zealand currency, and the import values including defence materials and equipment and lend-lease supplies:—

Figures for May 1946 1947 £ £ Exports • . .. 10,681,000 12,408,000 Imports . . .. 5,736,000 10,111,000 Excess of imports . . .. 4,945,000 2,297,000 Five Months Ended May £ £ Exports . . .. 45,823,000 55,855,000 Imports . . .. 26,600,000 43,405,000 Excess of exports . .. 19,223,000 12,450,000