OVERSEAS TRADE

Waipukurau Press, Volume XXVIII, Issue 128, 25 May 1932, Page 3

OVERSEAS TRADE

Imports Decline EXPORTS INCREASE A FAVOURABLE BALANCE The figures covering oversea trade of the Dominion for April show a marked improvement as compared with those of last month. For the first four months of the year the position disclosed is that export values are up by over £1,500,000 and imports lower by more than £1,800,000 as compared with the figures of a year ago, with a considerable gain in the favourable balance. In marked contract with the low figure of £2,76 8,134 for March, the Dominion’s exports last month were valued at £4,957,535, which represents a very large increase on the figure for April, 1931. Imports last month were at a very low figure at £1,760,698, which is the smallest recorded since the end of the war, and is £319,474 less than for April, 1931.

Improving Trade Balance

Notwithstanding the very low values ruling for the Dominion’s chief products in London, the exports for the first four months of this year were valued at nearly £l6£ million, and were greater by more than £IA million than those for the corresponding period of last year. On the other hand, imports for the four months at £7,609,972, show a decrease of nearly £2 million. The apparent favourable balance for the four months of this year is more than £8,847,000, and is greater by over £3g million than that for the corresponding period of last year. The values shown for exports, however, 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. If the export values are converted into sterling by the deduction of 10 per cent, they represent approximately £14,811,000, which leaves a sterling surplus of ovei' £7,200,000.

Production -Year Figures

The figures for the Dominion’s “production” year starting July 1 gave a more reliable indication of the country’s position. The figures show that while export values for the period ended April 39, 1932, are nearly £9l million less than those of two years ago, imports have fallen by considerably more than onehalf; and that whereas there was an excess of imports for the ten months ended April, 1930, of over £2,699,000, there is now an apparent surplus of well over £lO million.