DOMINION’S TRADE

Taranaki Daily News, 28 August 1930, Page 12

DOMINION’S TRADE

LARGE EXPORTS IN JULY. IMPORTS FALL SUDDENLY. A considerable increase in the value of exports and a large reduction in that of imports is shown by the returns of overseas trade in July, issued by the Customs Department in Wellington on Tuesday. They compare as follows with these for July of last year, the excess this year being of exports, last year of imports:— Exports.—July 1930, £3,384,742; 1929, £2,719,835; increase, £664,907. Imports.—July 1930, £3,014,713; 1929, £4.459,652; decrease in imports, £1,444,939.

Excess.—July 1930, £370,029; .1929, £1,739,817; increase, £2,109,846; An excess of exports in July is most unusual; it lias not occurred in recent years since 1922. It has been caused on this occasion by the inflation of exports, owing to previous delay in the shipments of produce and to the sharp contraction of imports, for which the disturbance caused by anticipations of Customs tariff changes was partly responsible. The month’s valuation is the lowest iu July in recent years, the nearest to it being £3,250,000 in 1927, though the abnormal conditions'in 1922 were reflected in a reduction of imports in July of that -year to £2,20-5,000. The extent of the reduction is magnified by comparison with last years valuations, as it was the highest total for the mouth in the i>resent decade. ’The returns for. the first half of the year showed a reduction in the apparent favourable balance of just over £8,060,000. The July return has reduced the adverse movement to less than £6,000,000, as the following summary shows: —

- The latent returns do not compare favourably, with those for the two preceding years, but in that period high prices coincided with increasing production. Although prices are now so much lower, the valuation of exports, owing to the greater volume, is maintaining the level of 1926 and. 1927 and the position in regard to imports is more favourable.

Jan-July Exports Imports Excess 192.5 40,475,829 '29,341,324 11,134,505 1926 32,909,529 28,191,183 4.715,346 1927 33,523,313 25,450,500 8,07'2,813 1928 41,071,193 •24,581,970 16,4S9,217 1929 40,491,376 26,997,095 13,494,281 1931) • 33,165,433 25,582,250 7,583,177