MAY EXPORTS

Waikato Times, Volume 127, Issue 21154, 2 July 1940, Page 9

MAY EXPORTS

DECLINE REVEALED RETURNS FOR 11 MONTHS LOW TOTAL OF IMPORTS (By Telegraph.—Special to Times) WELLINGTON, Monday Exports during May were valued at £5,015,000, or £1,623,000 less than j in the corresponding month last year, j according to the return of overseas j trade for the month, a summary of j which was issued by the Customs Department to-day. Imports during May rose to £5,549,000, which is ■ £211,000 above the figure for May, : 1939. This is the first month since last October that imports have ex- j ceeded exports. Following is a comparison of the ; returns for May in the past five ;

Production Year Exports for the first 11 months of the production year, which closed last week-end, were higher in value by £3,659,000 than those for the same period last season. The total has been exceeded in the past five seasons only by the July-May period of 1936-37, when the figure was £59,128. Imports have fallen during the 11 months to the end of May by £10,131,000, compared with the corresponding period of 1938-39. The import total of £41,171,000 is the lowest recorded since 1935-36, and the favourable commodity balance of £15,194,000 is the greatest for the past five seasons. Figures for the 11 months compared with those in the four previous sea-

years: May Exports Imports Excess £ £ £ 1930 5,075,000 3,246,000 1,829,000 1937 5,925,000 4,441,000 1 ,484,000 1938 0,271,000 4,184.000 2,087,000 1 939 0,638,000 5,338.000 1,300,000 1940 5,01 5,000 5.549,000 534,000* •Excess of imports. A comparison for the five months ended May in the past five years is as follows:— Exports Imoorts Excess 193 0 30,010.000 16,427,000 13,583,000 1 937 30,007,000 21,767,000 1 4,840,000 1938 31 ,393.000 23,526,000 7,867,000 193 9 3 1,037,000 22,989,000 8,648,000 1940 35,138,000 19,971,000 15,167,000

sons are:— July- Exports Imports Excess May £ £ £ 1985-3* SO,438.000 36,025,000 1 3,41 3,000 1936-37 59; 1 28,000 4 6,11 6,000 13,012.000 1937-38 56,006,000 53,960.000 1938-30 52.706,000 51,302,000 1,404,000 1030-40 56,365,000 41,171,000 15.19S.000 All the values are for commodities only, with specie excluded.