DOMINION’S TRADE

Poverty Bay Herald, Volume LV, Issue 17453, 30 December 1930, Page 2

DOMINION’S TRADE

IMPORTS CURTAILED EXPOST VALUES DOWN “Exports continue at approximately the same level as the previous month, although compared with November, 1929. a substantial decrease is recorded, equivalent to 16.8 per cent., “states the December Abstract of Statistics in an analysis/ of' the November exports and impoits figures, .which were published in the Herald last week. As a rule the export tracio reaches a mutch higher figure during November than was attained this year, the total being £424,000, or 15.1 per cent., below the average for the month for the preceding five years. An analysis of the principal commodities exported lays the burden ot this depression in trade principally upon wool, which has declined in value by £135.000. or 71.8 per cent., compared with November of last year. The depreciation of the overseas markets in the prises leceived for butter and cheese in recent months has had the effect of reversing a 6.8 per cent, increase, in onaiitity exported of these commodities to a f?.3 percent decree..' ein value. Considerable decreases were also experieihoi! in the case of timber (£3O,{)CO), coal i£24.0001, hides and skins (£17,000). wheat (£16,C00). and phormium fibre (£13,0001. Against this may be set a substantial.- brightening in the frozen meat export trade, the increases for the mouth over Noveftiher, 1929, amounting in the case of mutton to £38,000; lamb. £66,000 ; and beef, £34.000. The mon.-.hly recession in export trade as outlined above is but a phase of the general trend experienced throughout the year. Taking trio aggregate for the 11 months- of -e year to date, it appears that the 1 <>fa 1 value has declined by £2,G00,C00. or 17.7 per cent., a figure, moreover, that is 8.6 per cent, below the level attained as an average for the last five years for a similar period. Wool, again, has been the depreciating influence throughout the period. A 15.7 per cent, drop in 'quantity exported during the 11 months combined with a decline in values has caused a drop of over £7.000.000 in the value of wool exports. equivalent to 49.4 per cent. The average export price (H>r pound was only S.6ld, a figure 40 per cent, lower than that realised during 1929, and 32.8 per cent, interior to the average prices obtaining during the last live years. VALUE OF PRODUCTS There f-ppi irs to be little doubt that

the deflation in the overseas markets of the Dominion's primary products lias x (contributed largely toward the present prevalent economic depression. Practically all the staple commodities exported have suffered a depreciation in value. Even tho frozen meat trade, although in a firmer position than most other products, records a falling-ol! in unit value during the eleven |ponths just passed

ns compared with a similar period of 1929,. while butter and cheese have exhibited a falling tendency practically continuously. In spite, however, of a low. pricelevel, the frozen meat trade shows an improvement over last year, inasmuch as the total value of the exports to date are 4,3 per cent, ahead ~of 1929 for lamb and 30 per cent, for mutton. Much Hie same position, on the other hand, obtains in the case of butter and cheese for the cumulative period, as has already been cited in regard to the monthly movement—viz., deflated prices have resulted in increased output being met with decreased aggregate values; in the case of butter equivalent to 3.5 per cent., and for cheese 7 per 'cent. The import trade of the Dominion also suffered a severe depression during November. The value of imports recorded for the month was no less than 29.9 per cent, below that for November, ISSI 9, and 52.2 per cent, below the average for the month for the past five years. The decrease was spread fairly uniformly over the principal items, the greatest decline being recorded in the case of motor vehicles, etc. (83,000). The aggregate for the 11 months shows a decided slackening off, and is easily the lowest level'a ttained in recent years. Ihe total value of imports for the 1930 period was £5,000,000, or .11 per cent, (plow that for 1929, and 6.2 per emit, below the average, for the preceding live years,—Dominion.