LOOKING UP.

Auckland Star, Volume LIX, Issue 23, 28 January 1928, Page 9

LOOKING UP.

BRITAIN'S TRADE.

Figures Show A Credit

Balance.

"INVISIBLE EXPORTS."

(By Cable.—Press Association.—Copyright.)

LONDON, January 27.

The Board of Trade's official estimate of Britain's net trade balance in 1927 was given by the President of the Board of Trade, Sir Philip Cunliffe Lister, in a speech at Hendon.

He said that whereas the adverse net balance in 1926 was estimated at the beginning of 1927 at £12,000,000, it was actually only- £7,000,000.

He then gave the estimated-figures for pointing out that the Board of Trade's estimates of the so-called "invisible exports" had always been conservative, and had usually proved to be on the right side.

The excess of imports over exports showed a debit balance of £392,000,000, but the invisible exports were £488,000,000. These included shipping earnings of £140,000,000, and oversea investments of £270,000,000. Thus, allowing for the invisible exports, the figures showed a credit balance of £96,000,000..

"Whereas in 1926 there was an adverse overseas trade balance of £12,000,000, I calculate that in 1927 there will be a credit balance of £73,000,000," said Mr. A. M. Samuel, Financial Secretary to the Treasury, in a speech at Woking. He emphasised that the British trade activity in the Home market was greater than ever before and the export barometer was steadily rising. The industries were successfully meeting foreign competition. There were probably more people employed in Britain to-day than ever before in the history of the nation."—(A. and N.Z. and Sydney "Sun.")