[?]E Acute Angles On

Favourable Balance

Fiji's Overseas Trade

E year 1956 was the second in mccession in which Fiji had an mfavourable trade balance. 1955, an excess of imports over rts amounting to £1,612,945 ed bad enough; but it is over awed by the figure of £5,166,192, 956. ere are some mitigating res. Floods caused sugar exports ill by £1,229,725; and banana •ts by £162,424. ara exports in 1956 fell sub ially—not compensated for by crease in the value of oil seed and meal exported. In produc it was a good year, but values affected by the reduced price ■ the MOF contract, ich emphasises the point that ction in all domestic exports be increased to meet possible reductions, and flood and :ane damage ee significant imports were (£124,967), rice (£221,065) and r (£658,033) re is no apparent excuse for mportation of rice into a ry which produces good rice; with the further development ; dairying industry, it should e necessary to import ghee.

Lumber presents a problem, as imported Oregon is preferred by many builders to local timber which (it is said by builders) is not dried out as well as the Canadian timber.

Indian stores are overstocked with wearing apparel and general goods, and the bonds are glutted with these lines. Credit restriction has stopped the erection of many shops and flats and this should reduce imports of building material this year; but revenue will suffer in consequence.

The only answer is increased pro duction in all agricultural industries.

Any severe drop in price or produc tion of one major product could seriously affect the economic posi tion of the Colony.

Although the population of Fiji is increasing rapidly production re mains more or less static. It is a position which must be faced soon by high authority.