GREATER EXPORTS.

Star (Christchurch), Volume XLIV, Issue 372, 14 March 1932, Page 4

GREATER EXPORTS.

Larger by Nine and a Half Millions. Customs returns for February show exports of the value of £4,434,627, compared with imports £1,804,492, a credit balance for the month of £2,630,135. For two months this year and last, the position is still more satisfactory, and is as under:— 2 months. Exports. Imports. 1932 7,817,133 3,977,244 1931 7,035,202 5,408,583 Excess exports over imports, 1932, is £3,839,887; excess of exports over imports, 1931, was £1,626,619. The above Customs values shown for exports are the declared f.o.b. values in terms of New Zealand currency, while imports are valued on the basis of values in the exporting countries plus 10 per cent. Taking the eleven months of the financial year to March 29, 1932, the Dominion is in credit on trade of over £9,500,000 in New Zealand currency. The returns for the eleven months compare as follows: — 11 months. 1932. . £ Exports •. 30,813,743 Imports 21,293,483 Excess exports £9,520,260 11 months. 1931. £ Imports 36,212,671 Exports* 34,316,568 Excess imports .... £1,896,103 It will be seen that this year the Dominion has converted a trade debit last year, represented by excess of imports over exports of £1,896,103, into a credit balance in the form of excess of exports over imports (in spite of low prices) of £9,520,260. More exports have yet to go away before the end of the month, and imports should be inconsiderable. A ten millions credit balance should be assured. The Customs valuations of exports and imports must, however, be taken into account.