8.—3,

Table IV. —New Zealand External Trade.

Table V.—Estimates of Value of Production and National Income.

Notes, For 1925-26 the figures for both value of production and national income are the estimates from the Government Statistician. For subsequent years the figures for national income are the Committee's estimates obtained by adding 20 per cent, to the figures for total production. For the years 1928-29 and 1930-31 the figures for production are the Government Statistician's estimates. For the last two years, 1931-32 and 1932-33, the production figures are the Committee's estimates. In these two last years certain assumptions, which may err on the generous side, have been made. It has been assumed that the value of pastoral and dairying production will remain unchanged, that other products in the next four classes will be reduced by 10 per cent, in 1931-32 and by a further 10 per cent, in 1932-33 from the 1928-29 level, while the volume of production remains about the same. In the last group —Builders, &c—allowance has been made for the known decline in building, as well as for a 10-per-cent. decrease in prices for 1932-33.

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Approximate Figures for . J ! | Excess of Excess of 8tate and Local Bodies - 6 !? Total Trade. Imports. Exports. Exports over Imports over 3l8tMarch ' ! | Ex P° rts - interest paid External Overseas. Loans raised. 1 ! i j £ £ £ £ £ £ £ 1921 .. 115,662,628 67,463,269 48,199,359 .. 19,263,910 4,556,617 5,696,000 1922 .. 79,925,582 36,123,256 43,802,326 7,679,070 .. 4,989,181 5,621,000 1923 .. 82,524,283 36,975,583 45,548,700 8,573,117 .. 5,548,524 5,301,000 1924 .. 96,054,362 44,401,756 51,952,606 7,250,850 .. 5,542,682 8,070,000 1925 .. 104,592,253 49,821,095 54,771,158 4,950,063 .. 6,075,596 10,866,000 1926 .. 101,723,443 53,025,856 48,697,587 .. 4,328,269 6,414,378 7,571,000 1927 .. 93,875,008 48,192,670 45,682,338 .. 2,510,332 6,701,264 7,750,000 1928 .. 99,381,388 44,419,357 54,962,031 10,542,674 .. 7,462,503 6,870,000 1929 .. 102,260,208 45,105,865 57,134,343 12,048,478 .. 8,013,747 8,310,000 1930 .. 98,213,731 49,167,914 49,045,817 .. 122,097 8,424,526 6,177,000 1931 .. 77,828,591 38,300,807 39,527,784 1,226,977 .. 8,522,334 -5,193,000

(£ millions.) Classes. 1925-26. 1928-29. 1930-31. 1931-32. 1932-33. Agricultural Products .. .. 8-40 9-38 8-80 7*70 7-00 Pastoral Products 32-79 42-32 24-58 24-58 24-58 Dairying, Poultry, and Bees .. .. 26-27 30-41 23-72 23-72 23-72 Mining Products .. .. .. 3-14 3-49 3-57 3-20 3-00 Fishery Products .. .. .. 0-58 0-45 0-50 0-40 0-35 Forest Products .. .. .. 5-15 3-13 2-66 2-80 2-50 Factory Products 22-28 23-70 23-10 21-40 19-30 Builders, Labourers, and Industrial 13-08 12-42 10-98 6-50 5-85 W orkers — ——— Total production .. .. 111-71 125-30 97-91 90-30 86-30 Add 20 per cent, for estimate of 136 150 120 110 103 national income