Publisher's Synopsis
Excerpt from Commercial Intelligence Journal, 1941, Vol. 65
Under normal trading conditions an increase in the value of exports would result in greater purchasing power within the country and in increased imports. Due to the strict control of imports under the Import, Export and Exchange Control Regulations, gazetted in December, 1938, there was no corresponding increase in the value of imports in 1940. Imports valued at were actually less than the value for 1939 and less than the figure for 1938, the last year of free imports. Owing to the general increase in import prices under war conditions, the reduction in the volume of imports was substantial. The heaviest decline was in motor vehicles, which fell in number from in to in 1940 and in value from to The importation of motor vehicles in 1941 will be still further reduced.
Other products reduced in volume and value by the import restrictions were: apparel, boots and shoes, silk hosiery, household electrical appliances, newsprint, cigarettes, and manufactured tobacco. Against these decreases there were increased imports of such raw materials for further manufacture within New Zealand as cotton piece-goods; silk and artificial silk piece-goods; jute bags, sacks and wool-packs; tubes, pipes and fittings; and tinned plate and sheet. Despite the reduction in imports of all so - called luxury items, merchants were able to maintain good displays of style merchandise, and local manufacturers showed considerable ingenuity in making up the shortages in imported goods.
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