OCTOBER TRADE RETURNS

Taranaki Daily News, 1 December 1934, Page 6

OCTOBER TRADE RETURNS

The most striking features of the October oversea trade returns are that imports are up in value by nearly £1,000,000 and exports down by £214,000 as compared with the corresponding period last year. The fall in export values is insufficient to cause anxiety, and may in fact be due to the fluctuations of shipping. There is an ample margin in exports as compared with imports, the figure being £640,000 without adjustment to a New Zealand currency basis. The upward trend of imports continues. It may be due to the drastic reduction of imported stocks brought about by the uncertainty in regard to the tariff and the high exchange rate. Importers were hesitant to purchase commodities the value of which might be affected by political action, and preferred a diminished turnover to the risk of such losses. The public also has had the need for economy emphasised on many ocasions and in divers ways. Some consider the lesson has been too well learned and that wise individual expenditure should be encouraged for the common good. The improvement in the employment position is also having its effect, and the import figures for October may be said to indicate some degree .of returning confidence. The tariff and the exchange rate are two matters that are now stabilised, at least for some time to come, and whether the policies of which they are the expression are approved or not it is well for trading that the element of uncertainty should be removed. The removal or lowering of the tariff on goods from Great Britain may have had its effect upon importations also, but while any excess of imports must be guarded against the increased activities of importers during the past few months is a sign of returning commercial health and of less gloomy anticipations for the Dominion’s future trading.