BETTER TRADE POSITION

Poverty Bay Herald, Volume LIV, Issue 16623, 16 April 1928, Page 2

BETTER TRADE POSITION

BIG CREDIT BALANCE FOR FINANCIAL YEAR IMPROVEMENT OP £13,000,000 IN 12 MONTHS Cause for solid satisfaction over the greatly improved trading position of the Dominion is to be found in the trade returns supplied by the Customs Department. For the financial year ended March 31 the balance of exports over imports amounted to no Jess than £10,542,674, compared with an adverse balance of £2,510,332 for the previous year, so that there has been an improvement of over £13,000,000. The exports during March were again well over £7,500,000, and for the three months ended March 31 they reached the phenomenal total of £23,136,719, which is moro than half the total value of the exports for the 12 unonths ended March 31, 1927. An analysis of the figures shows that tiie exports last month were over £1,250,000 more than for March, 1927. The amount, £7,687,503, is £155,319 less than for February, and this will be largely accounted for by the decrease in butter and cheese shipments. The experts for tho first three months of this year are:—January, £7,606,385; February, £7,842,822; and March, £7,687,503; each representing record figures. The imports last month were over £400,000 less than for March, 1927, and the figure, £4,284,032, shows a rather sharp rise on tho £3,770,000 for January, and £3,578,233 for February. The March figures afford the fallowing comparison : March, 1923 March, 1927 £ £ Exports ... 7,687,503 6,450,442 Imports ... 4,284,032 4,692,209 Excess of oxports ... 3,403,471 1,758,233 When the quarterly figures are examined it is found that the exports for the three months ended March 31, 1928, £23,136,710, are practically double the value of the imports for the period, and total £6,465,677 more than the exports lor the corresponding quarter of ' last year. The imports for the March quarter, 1928, are £363,589 less than for the corresponding period last year. The quarterly figures afford the, following comparison:— 3 months. 3 months. 1928. 1927. £ £ Exports 23,136,710 16,671,033 Imports 11,632,290 11,995,879 Excess of exports 11,504,420 4,675,154 Most impressive are the figures for financial year, since they show convincingly the great improvement in the trading position of the Dominion, which was evidenced to some extent by the quarterly banking returns. The exports for the 'year totalled nearly £55,000,000, and tha increased production and better prices for wool and other produce are reflected in the increase of £9.279,693 over tho exports (£45,682,338) for the previous financial year. The imports for the year are. down by £3,773,313, compared with the previous 12 months. Tho year's trading shows a healthy credit balance of exports over imports of £10,542,674, as against an adverse balance of £2,510,332 for the previous 12 months. Thus there has been an improvement of £13,053,000 in the trading position of the Dominion. The figures for the finarc.al year afford the following comparison : Year to Year to March 31. March 31. 1928. 1927. £ £ Exports 54 ,'962,031 45,682,338 Imports 44,419,357 48,192,670 Excess of exports 10,542,674 Excess of imports 2,510,332 —Dominion.