BRITAIN'S TRADE.

Auckland Star, Volume LXIX, Issue 192, 16 August 1938, Page 8

BRITAIN'S TRADE.

Whatever may be the position? in. regard' to internal trade in Great lutein; $: is . evident from the latest; Board of Trade statistics just released that the export position has shown a definite deterioration in the last six months. This is in part due to the elump which set in in the United < States in the latter half of last year, for the Americans are probably Britain's most important foreign customer. The reaction from the setback in American trade has been felt in most European countries, r particularly those connected with the production of raw materials, and this in turn affects them in their position as customers of British manufactured goods. The feverish race in armament production,! too, has caused practically all the European countries to tighten up' their restrictions against foreign imports in order to conserve their resources for war material. These adverse tendencies affect Great Britain mbrs than any other country, for she is still the greatest trader, internationally, of all. The latest figures demonstrate that for last month the turnover, that is exports and imports, totalled £115,800,000, compared with £139,900,000 for July, 1937. For the. first seven months of the present year total turnover has reached £851,700,000, compared with £914,800,000 for the corresponding period last year. The adverse balance, huvever, has increased from £223,600,000 to £237,500,000, due to heavy imports. The conclusion : must be that the masses of Britain are not likely to be so favourably situated in the purchase o£ Dominion products in the near future as they have been in. late years.