DOMINION’S TRADE

Wanganui Chronicle, Volume 74, Issue 196, 20 August 1931, Page 9

DOMINION’S TRADE

EXPORT VALUES STILL LOWER. DRASTIC CUT IN IMPORTS. The main features of the oversea trade figures for July, issued yesterday by the Customs Department, are again low export values, and a remarkable decline in the import figures. The declared value of exports last month was over £.1,157,00 less than that for July, 1929, while imports were £1,155,000 lower, as is shown in the following table:—

The figures indicate that the drastic restriction of imports has improved the trade balance, but as the export values are reckoned in New Zealand currency and the imports are in sterling the improvement will not be as great as appears from the table. Although the “production year 7 ’ is generally regarded as ending on June 30, the dairying season officially ends on July 3.1, the shipment of new season’s produce start in August. The following table gives a comparison of recorded export and import values covering the last ten years ended July 31:—

It will be seen that export values during the last twelve months are the lowest recorded for ten years, and are nearly £20,000,000 below those for the twelve months ended July, 1929. Imports are more than £15,000,000 below those of each of the last two years, and are the lowest for nine years.

July, 1930 £ Exports .. 3,384,743 Imports .. 3,014,713 July, 1931. Decrease 2,227,313 1,859,251 £ 1,157,429 1,155,462 Excess of exports .. 370,029 368,062 1,967 For seven months of 1931 ended July 31, export values show a fall of over £9,000,000, while imports are lower by more than £10,800,000, as compared with the figures for the corresponding period of last year:— 7 mos., 1930. 7mos„ 1931. £ £ Exports .. 33,165,433 24,012,289 Imports .. 25,582,256 14,774,556 Excess of exports .. 7,583,177 9,237,733 * Increase. Decrease £ 9,153,144 10,807,700 *1,654,556

Year Excess of ended Exports. Imports. exports. July 31 £ £ £ 1922 .. .. 43,316.831 31,288,418 12,028,413 1923 .. . . 45,830,005 41,267,479 4,562,526 1924 .. , . 48,605,551 45,532,484 3,073,067 1925 .. .. 56,725,463 51,066,924 5,658,539 1926 .. . . 47.695,976 51,309,266 *3,613,290 1927 .. .. 45,889,359 47,145,880 *1,256,521 1928 .. .. 56,044,234 43,914,422 12,129,812 1929 .. .. 55,608,664 47,301,385 8,307,279 1930 .. .. 48,253,120 47,383,138 869,982 1931 .. .. 35.787,548 32,218,214 3,569,334 * Excess oi Imports.