H.—44

GENERAL TRADE REVIEW. Following the usual custom, the overseas trade of New Zealand for the calendar year 1937 is briefly reviewed. The year ended 31st December, 1937, marks a.record so far as the total external trade of the Dominion is concerned, imports and exports aggregating £122,874,074, compared with £100,886,266 in 1936. Exports were valued at £66,713,379, as against £56,751,940 in 1936, an increase of £9,961,439 ; whilst imports in 1937 were £56,160,695, as against £44,134,326 in 1936, an increase of £12,026,369. Exports are the highest ever recorded, whilst imports have been exceeded on only one occasion—in 1920. The foregoing figures are exclusive of specie, exports of which during 1937 amounted to £3,500, as compared with £45,245 in 1936. Specie imports during these two years were £318,508 and £36,601 respectively. Specie is given at its face value.

Table I. —External Trade (excluding Specie).

EXPORTS. Table II hereunder sets out the quantities and values of the principal commodities (excluding specie) exported from New Zealand in each of the past two calendar years : —

Table II. —Principal Exports (excluding Specie).

2

Year ended Exports. Imports. Total External Trade. of Exports 31st December, r r over Imports. £(N.Z.) £(N.Z.) £(N.Z.) £(N.Z.) 1928 .. .. 55,570,381 44,844,102 100,414,483 10,726,279 1929 .. .. 54,930,063 48,734,472 103,664,535 6,195,591 1930 .. .. 44,940,517 44,339,654 89,280,171 600,863 1931 .. .. 34,950,698 26,498,151 61,448,849 8,452,547 1932 .. .. 35,609,919 24,646,006 60,255,925 10,963,913 1933 .. .. 41,005,919 25,581,366 66,587,285 15,424,553 1934 .. .. 47,342,847 31,339,552 78,682,399 16,003,295 1935 .. .. 46,538,678 36,287,544 82,826,222 10,251,134 1936 .. .. 56,751,940 44,134,326 100,886,266 12,617,614 1937 .. .. 66,713,379 56,160,695 122,874,074 10,552,684

1936. 1937. Item. : . Quantity. j Value. Quantity. Value. £(N.Z.) £(N.Z.) Butter.. .. .. Cwt. 2,796,145 15,317,576 2,976,085 16,986,477 Cheese.. .. .. „ 1,658,206 5,122,438 1,647,255 5,371,878 Beef .. .. .. „ 735,997 989,847 851,850 1,246,445 Lamb .. .. .. „ 2,603,805 8,417,209 2,769,788 9,380,363 Mutton.. .. .. „ 883,844 1,672,522 870,264 1,636,024 Pork .. .. .. „ 605,317 1,601,811 599,545 1,733,903 Hides and calf-skins .. No. 1,608,789 761,511 1,670,112 1,031,076 Rabbit-skins .. .. ,, 16,928,931 763,961 12,050,438 557,132 Pelts .. .. „ 10,847,249 1,245,993 10,759,059 1,619,103 Wool .. .. .. Bales 909,132 13,293,583 835,573 19,093,291 Tallow.. .. .. Tons 26,095 628,310 25,940 647,969 Kauri-gum .. .. ,, 3,237 96,161 3,226 151,589 Gold (including re-exports) Oz. 168,914 1,404,973 172,652 1,438,492 Sausage-casings .. .. Lb. 4,416,070 641,393 4,244,227 760,264 Phormium tenax .. Tons 5,707 106,942 5,193 127,284 Apples.. .. ..Lb. 44,806,173 552,902 36,082,757 452,335 Grass-seed .. .. Cwt. 69,290 197,022 47,084 143,817 Timber .. .. Sup. ft. 26,993,334 265,108 17,641,718 200,575 Milk (dried and preserved) Lb. 23,742,354 405,801 24,713,648 364,676 Other items .. .. .. .. 3,266,877 .. 3,770,686 Total exports .. .. .. 56,751,940 .. 66,713,379