The Daily News WEDNESDAY, SEPTEMBER 12, 1934 NEW ZEALAND’S TRADE.

Taranaki Daily News, 12 September 1934, Page 6

The Daily News

WEDNESDAY, SEPTEMBER 12, 1934 NEW ZEALAND’S TRADE.

OFFICES: NEW PLYMOUTH. Currie Street, STRATFORD. Broadway. HAWERA, High Street.

Though niost of the figures submitted in the annual report ; of the Minister of Industries and Commerce, the Hon. R. Masters, have already been made public, the report, which was submitted to Parliament yesterday, contains some information that is of considerable interest. For the calendar year 1933 the value of exports, in New Zealand currency/ was £41,301,951, as compared with £36,965,780 for the previous year, though the influence of the raised exchange rate must be taken into consideration in considering the figures quoted. Imports last year aggregated £21,451,382, a reduction of £1,593,724 on those for 1932, and here again the influence of the higher exchange rate can be seen. Among the principal exports, with the exception of frozen mutton pelts and gold, there were increases in quantities exported, while values last year showed an improvement on those of the previous year except in regard to cheese and frozen mutton. Of the total exports Great' Britain purchased 86.12 per cent., a slightly smaller percentage than for the preceding year, when she took 87.79 per cent. Imports from Britain, though they fell in value by £706,747, represented 50.29 per cent, of the total imports as compared with 49.91 per cent, in the previous year, the figures showing that the Dominion has done something towards supporting the principles underlying the Ottawa agreements. Next to Great Britain, Australia was the Dominion’s best customer in 1933, replacing in that position the United States. Australia also replaced America as second in importance to the United Kingdom in the value of commodities imported. Nevertheless the figures of the trade with Australia are small as compared with those in connection with the trading with Britain, and the balance of trade in favour of the Commonwealth is nearly two to one. The importance of the markets of Great Britain to the Dominion is made plainer than ever by the official statistics, though it is hoped the Trade Agreement Act, 1933, may increase the value of exports to Australia as time goes on. Trade with Canada was double that of 1932 in . regard to exports, though they amounted to only £560,875, while imports from the older Dominion were slightly higher. Appreciable gains were made in exports to Canada of wool and hides, and in other directions there is hope for an expansion of trade in products that do not conflict with the Canadian policy of self-suffi-ciency in regard to manufactured goods. Exports to the United States showed a slight increase from £940,015 in 1932 to £1,188,922 last year, but imports from America fell from £3,267,086 to £2,383,451. A cheering report is given of the possibilities of trade with the West Indies. A special visit was made by the Trade Commissioner in Canada, Mr. J. W. Collins, to the West Indies, and an appeal is made for exporters in the Dominion to exploit for themselves contacts made by Mr. Collins with importers. in those islands. He is of opinion that considerable trade can be developed, but it will require initiative and enterprise on the part of New Zealand if this is to be brought about. In view pf the generally admitted necessity for seeking new markets for dairy and other produce on account of the possibility of restriction upon imports into Great Britain a table showing the value of the Dominion’s export and import trade with various Asian countries is of particular interest. The figures show that the balance of trade is largely in favour of the Eastern exporters, and in some cases the balance is almost overwhelming. Last year exports to the Dutch East Indies were valued at £5496 and imports at £798,579. As regards Ceylon the figures were £2670 and £442,628; India, £34,326 and £461,539; China, £54,564 and £58,228. Japan received New Zealand goods to the value of £354,462, but sold in return commodities valued at £541,346. The figures are eloquent. They show that there is the opportunity for collective bargaining as regards exports to the East, but they make it clear that considerably more energy must be shown by New Zealand if the balance of trade is to be brought anywhere nearer equality. So far as the Department of Industries and Commerce is concerned it has done some of the spade work. It has established contacts and has appointed several honorary trade re-

presentatives. The department offers all its information and facilities to the New Zealand exporter, but it seems fairly obvious that something more than the assistance of honorary local representation is required if the Dominion is to obtain its full share of the markets of the East. Much interesting information is given in the report in regard to the movements of domestic trade and industry. But looking to the future it is evident that considerably more energy and initiative could well be applied to the development of fresh markets. Great Britain is and must remain the Dominion’s principal customer, and every effort must be made to retain, and increase the hold upon the markets of the United Kingdom by sending only highest quality commodities and working in close co-operation with the importers of Britain. Nevertheless there is room for expansion of trade with other countries. By enacting trade treaties and removing barriers to trade Parliament can do its share towards making that expansion possible. Political effort must, however, be supported by exporters themselves, and the commercial efforts must be continuous and sustained if they are to have the desired effect.