EXPORT OF PRODUCE

Poverty Bay Herald, Volume LV, Issue 17238, 19 April 1930, Page 4

EXPORT OF PRODUCE

SHIPS ARRIVE IN BALLAST EFFECT OF TRADE BALANCE Tho prospect of an adjustment of the balance of trade was indicated this week by Professor H. Belshaw, professor of economics at Auckland University College, in commenting on the fact that four large overseas liners are on the way to New Zealand in ballast for the purpose of loading primary produce. The vessels are the Mahia, Maimoa, Port Sydney, and Coptic. None of these vessels is bringing imports to New Zealand, and in addition the motor-ships Port Fairy and Taranaki, which left England with cargo for Australia, will come to the Dominion for loading purposes only. In all 18 vessels are expected to load produce during April and May. The effect of the increased exports, Professor ■ Belshaw stated, would be to improve, temporarily the balance of trade, especially in view of the fact that some of the vessels were coming to New Zealand in ballast, which was probably an indication of a tendency for diminished import figures. The ultimate effect should be an improvement in the exchange position when the commodities exported were paid for, but too much should not be made of a comparison over a. short period, since temporary circumstances would then be likely to have undue importance attached to them.

"A readjustment of the, trade balance and tho exchange position would, of course, take place sooner or later," Professor Belshaw said. "Rut how long this will take to make its influence felt I should not care to forecast."