DOMINION TRADE

Otago Witness, Issue 3335, 13 February 1918, Page 24

DOMINION TRADE

SOME INTERESTING FIGURES. BRITAIN'S GOOD POSITION. ■CUSTOMS REVENUE KEEPS UP. Thft Hon. Arthur M. Myers, Minister of Customs, when seen by a member of the Wellington Poet, gave the following par- , ticuiars in regard to the Customs revenue for tho calendar year ended December 31, 1917 ■ The Minister's explanations in regard to the dominion's overseas trade were of great interest, as showing how the high prices of staple products and the shortage ojf tonnage have combined to create an enormous balance of trade in favour _of . New Zealand. The development of imports from Japan and America was another significant feature of the statistics supplied by .tlfe Minister. Mr Myers stated that the many restrictions against the exportation of goods from the United Kingdom have led to a fallingoff in the proportion of, the dominion s imports from that country, particularly as regards cocoa, chocolate, and chocolate confectionery. Firms in the United States, Holland, and Switzerland have, therefore, had a good opportunity of pushing their goods in this market. . There has been great difficulty in obtaining sufficient supplies' of iron, brass, copper, and other me'tals and metal goods, glassware, chemicals, drugs, salt, roofing materials, paints and colours, to meet local requirements. IMPORTATION OF ENEMY GOODS. " Numerous inquiries have been made into allegedly illegal importations of enemy goods," said the Minister, " but in no case has any suoh importation been proved. Ihe production of original invoices and stock,books has shown that tho goods had either been imported before the war or from stock held in other British dominions up. to the time such importatiohs were illegal—namely, September 26, 1916. Since that date no goods of enemy origin can be'imported, except with special permission, whether out of stock held in British possessions or otherwise. "In spite of the many restrictions on - exportation, Great Britain has held her position better than might haye been expected, the percentage of the total imports for 1917 showing a 'decrease of only , 10 per cent.,as against 1914. > CUSTOMS REVENUE WELL Si -n MAINTAINED. " The revenue is in better condition than ! was anticipated, and at present there is every possibility of it exceeding. the estimate by a substantial sum. Tho skipping . "prospects are now muoh better, and the Customs work almost came up to normal , during October, November, December, and January last. " The most notable increase in foreign import trade ia from United. States, imports for 1914 rising from 11.7-12 of the total imports to 20.7-12 in 1917. The imports from JafSan increased from £232,364 in 1914 to £693,£07 in 1917. The following tallies," remarked Mr Myers, " show comparison for the calendar years 1914 and 1917 respectively: Total values of tho imports and exports of New Zealand during calendar years 1914 and 1017. ( 1914. 1917. Total imports £21,856,098 £20,919,265 Total exports Total oversea trade ... 48,117,543 62,516,812 Excess of exports ... 4,405,351 10,678,282 The basis of value adopted in this table f is that imports, 1914 and 1915, goods subject to ad valorem duty, the "fair market value" in the country of export plus 10 per cent.; other goods (except specie), the ; *'landed value" in New Zealand. Imports, 1-&5 and 19i7, all goods (except specie), the "fair market value" in the country" of export plus 10 cent. Exports, tho "free on board " value in New Zealand. The following retutrn shows approximately the total tonnage of cargo or discharge in New Zealand imported from (a) British ports, (b) U.S.A., (e) other foreign countries during the oalendar years 1914 and 1917 respectively:— 1914. * Tons. British ports ... 1,360,843 U.S.A. ' , 125,755 Other foreign countries 62,157 Total 1,538,755 1917. British portsi 826,786 ► U.S.A. ... 155.1C6 Other foreign countries ... : : 72,704 Total 1,054,656 Total value of principal articles of New Zealand produce exported from New Zealand. 1914. ' ' Butter £2,338,576 Cheese ... .'. 2,564,125 Meats — .'Beef, frozen 1,029,520 Lamb (whole carcases) 2,654,517 Mutton, frozen (whole carcases) 2,115,080 Mutton and lamb joints, frozen ... 33,730 Potted and preserved ... 111,217 Wool 0,318,114 1917. • Butter 2,031.551 Cheese 3,949,251 Meats — Beef, frozen 2,007,445 Lamb (whole carcases) 1,366,514 Mutton," frozen (whole carcases) ... 2,458,172 Mutton and lamb joints, frozen ... 8,805 Potted ard preserved 278.869 Wool 12,175,366