AUSTRALIAN TRADE

Wanganui Chronicle, Volume 74, Issue 140, 16 June 1931, Page 9

AUSTRALIAN TRADE

LARGE EXCESS OF EXPORTS CURRENCY COMPLICATIONS Trade of Australia in April in recorded values—imports in sterling and exports in Australian currency—showed a large surplus of exports. Exports were recorded al £8,461,852 and imports at £2,851,827. The imports were the lowest recorded during any month since the war. For the .10 months from July 1 last there is shown au excess of exports of £29,903,971, but, as the imports are recorded in sterling and exports in Australian currency, the figure is misleading. The acting-Commonwealth Statistician estimates that the excess in Australian currency is £24,100,000, or in sterling £19,900,000. For the purpose of paying overseas commitments during the 10 months £30,000,000 sterling would be required, so that on the trade figures there is a shortage 01. £10,100,000 sterling. Exports during the 10 months of the present financial year were £84,180,989 in Australian currency or, it is estimated by the. acting-Commonwealth Statistician, £74,200,000 in sterling. In the corresponding period of last year exports were valued at £107,747,692. Exports of gold this year were considerably lower at £7,834,269, as against £26,834,321. Imports totalled £54,277,018, against £116,029.774 during the corresponding period of 1929-1930, a decrease of £61.752,756.