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Increased Papua and New Guinea trade



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FOR THE PRESS; 996.

INCREASED Pa PU.> AND NEW GUINEA TRuDE

Statement by the Minister for Territories, The Hon, Paul Hasluck, M.P,

Releasing preliminary -1958/59 trade figures for the Territory of Papua and New Guinea today, the Minister for

Territories, the Hon, Paul Hasluck, M.P., revealed that the total value of trade in the Territory had increased from £7*8 million in 1 947/48 to £36.6 million in 1958/59.

Mr. Hasluck said that over the same period the value of exports increased from £2.8 million to £16.3 o„nd the value of imports from £5 million to £20.3 million.

Commenting on exports, Mr. Hasluck said that, although coconut products were still the principal commodities exported and had brought high prices this year, cocoa and coffee were contributing increasingly to the Territory’s export income.

He added that exports were now beginning to reflect the large increase in cocoa and coffee plantings over recent years and that production of these commodities should

continue t'o rise rapidly in the future.

Mr. Hasluck said progressively larger annual Commonwealth grants and higher export income were largely

responsible for the rise in imports.

CANBERRA.

6th December, 1959.