DOMINION’S TRADE

Wanganui Chronicle, Volume 76, Issue 105, 6 May 1933, Page 9

DOMINION’S TRADE

RETURNS FOR MARCH EXPORT RISEN AGAIN GROWING STERLING BALANCE A valuation of £5.396,273 was placed on the exports from New Zealand during March, according to preliminary returns of the montb’s overseas trade issued by the Customs Department, in Wellington yesterday. This is a substantially higher figure than for .March last year, when the value was £3,682,468. Even allowing ior tlie difference in apparent value due to the rise in overseas exchange March this year shows much the better return. Imports show a small increase on the phenomenally low figure in March last year, £1,888,809 against £1,872,039. The March total last year was a low record for any corresponding month since the end of tho war. The increase now shown leaves the value still lower than that in any March during that period. Following is a comparison of the March returns in the past five years: Exports Imports Excess £ £ £ 1929 .. 7,596,558 3,854,255 3,742,303 1930 .. 5,566,637 4,062,976 1,503,661 1931 .. 5,121,216 2,088,136 3,001,003 1932 .. 3,682,468 1,872,039 1,810,429 1933 .. 5,396,273 1,888.809 3,507,464 Tho movement shown in March is reflected in the figures for the first quarter of the calendar year. The rise in exports from £11,499,601 to £13,343,982, is not so marked because last year the low value in March followed high figures for January and February. This year there has been greater uniformity in tho figures for the three months. On the import side the increase for March has not been sufficient to compensate for decreases earlier in the year, the total for the three months being £5,574,637, against £5,849,283 in 1932, a decrease of £274,646. The apparent favourable balance for the quarter has shown a substantial rise of more than £2,000,000, from £5,650,318 to £7,769,345. Quarterly Figures Compared Following is a summary of the quarterly returns for the past five years:— Jau.March Exports. Imports. Excess 1929 .. 24,102,572 11,851,889 12,250,683 1930 .. 17,569,326 12,221,826 5,347,500 1931 .. 12,156,418 7,496,719 4.659,699 1932 .. 11,499,601 5,849,283 5,650,318 1933 .. 13,343,982 5,574,637 7,769,345 The returns for the 12 mouths ended March 31 show an increase in exports of £4,313,950 in comparison with the previous year, and a reauction of only £717,623 below tho total for 1930-31. They are still more than £10,000,000 less than for 1929-30, However. Imports are lower by less than £500,000 compared with last year’s total, but it had shown a decrease of £15,000,000 from the level reached in 1931-32. The nominal favourable balance is now £16,000,000, compared with £11,000,000 last year and only £1,227.000 the year before. Movements in the exchange have influenced those figures, but not sufficiently to destroy the striking character of the comparisons, Trade for Past Decade Following is a summary of the returns for financial years in the last decade: Exports. Imports. Excesns. £ £ £ 1923- . . 51.652,606 44,401,756 7,250,850 1924- . . 54,771,158 49,821,095 4,950,063 1925- . . 48,697,587 53,025,856 *4,328,269 1926- . . 45,682,338 48,192,670 *2,510,332 1927- . . 54,962,031 44,419,357 10,542,674 1928- . . 57.154,343 45,105,865 12,048,478 1929- . . 49,045,817 49,167,914 *122.097 1930- . . 39,527,784 38,300,807 1,226,977 1931- . . 34,496,211 23,165,522 11,330,689 1932- . . 38,810,161 22,770,460 16,039,701 Totals £474,800,036 £418,371.302 £56,428,734 ♦Excess of Imports. As the financial year covers portions of two seasons of production, the returns for the year ending on June 30 are a more reliable indication of the country’s economic condition. A summary of the overseas trade in periods of nine months from July 1 to March 31 of recent'years is as follows: Exports. Ipiports. Excess. 1924- . . 41,880,688 39,006,523 2,874,145 1925- . . 33,128,283 41,133.894 *8,005,611 1926- . . 32,473,774 37,068,862 *4,595,088 1927- . . 41,040.722 34,214,532 6,826,190 1928- . . 35,822,455 6,753,326 1929- . . 35,376,848 38,882,360 *3,505,512 1930- . . 27,316,419 27,955,090 *638,671 1931- . . 24,867,653 17,746,936 7,120,717 1932- . . 28.131.241 17,443,916 10,687,325 •Excess of Imports. The actual figures are nearly £4,000,000 higher than those shown a year ago, and a little above tho nine months’ total in 1930-31. The sharp fall in imports displayed last year in comparison with the year before has been a little more than maintained, but only slightly increased. The nominal favourable balance is more than £3,000,000 greater than at this time last year. Conversion into sterling of the recorded value of exports indicates that the excess of exports for the nine months was equivalent to £7,521,000 in London, compared with £4,423,000 last year. The adjusted figure for the year ended March 31 is £9.491,000.