MORE IMPORTS TO BRITAIN

Press, Volume LXXII, Issue 21975, 26 December 1936, Page 8

MORE IMPORTS TO BRITAIN

| ♦ FIGURES FOR FIRST NINE MONTHS OF 1936 INCREASE IN EMPIRE TRADE MAINTAINED (FROM OUR OWN CORRESPONDENT.) LONDON, November 28. The United Kingdom’s trade figures for the first nine months’ of this year show that imports arc greater than during the same period last year. Exports have risen slightly, but not lo the same extent. Total imports for the first nine months increased in value by nearly 13 per cent, compared with a year canier, but when the effect of price changes is eliminated, the increase in volume was 8 per cent., avei’agc values in the aggregate having risen by about 5 per cent. For exports there was a rise in declared value of about 3 per cent., representing an increase in volume of a little more than 1 per cent., average values having risen in about the same proportion. For re-exports, although there was an increase in recorded value of 12 per cent., this was almost entirely due to changes in average values, the increased volume being less than 2 per cent. In making comparisons with 1924, the effect of price changes is more considerable, there having been a very substantial decline in prices between that year and 1936. It must, however, be emphasised, notes the Board of Trade Journal, that these changes in price level relate to imports and exports, respectively, as a whole, and not to trade with individual countries or groups of countries, in respect of which the price variation is, of course, dependent on the make-up Of the trade actually carried on. New Zealand’s Position The proportion of United Kingdom imports consigned from British countries during the first nine months of the year continued to show the steady rise which has been noted in recent years. Compared with a year ago, a larger proportion was received from the Dominions as a whole, because of a substantial increase from Canada; each of the other Dominions except New Zealand showed a slight decrease. The proportion received from India was also greater than in the first nine months of last year, but the share of the Colonial Empire suffered a reduction, largely because of a substantial decline in imports of rubber from British Malaya. All parts of the Empire except the Irish Free State and British Malaya supplied a larger proportion of United Kingdom imports than in the corresponding period of 1924, the increases for Canada and Australia being particularly important. During the first nine months of 1936 British countries took almost exactly one-half of the exports of United Kingdom produce and manufactures. a . larger proportion than that recorded for any period for which comparable particulars are available. The share taken by India showed a decline as compared with a year earlier, but increases were recorded for each of tho Dominions, notably tho Union of South Africa, which has now become the largest market for British exports; apart from an increase in the proportion going to British West Africa and a reduction for Hong Kong, relatively small changes took place in exports to the Colonial Empire. Exports to Empire Compared with the first nine months of 1924, there was a substantial increase in the share of United Kingdom exports taken by British countries. The proportion consigned to South Africa more than doubled, and the improvement was shared by nearly every part of the Empire; the only exceptions were India—a very substantial decline —the Irish Free State, Australia, and Hong Kong. The re-export trade consists largely of a redistribution of Empire produce to foreign countries, and the proportion taken by British countries, always relatively small, was appreciably smaller during the last nine months than in the corresponding period of either 1935 or 1934. The share of the Irish Free State, the principal British market for re-exports, declined as compared with each of the earlier periods. The United Kingdom’s imports from British countries during the January-September period this year were valued at £241,415,000. which represented 39.71 per cent, of its tAtal imports. The value last year was £206,963,000, and the percentage 38.36. Imports from foreign countries were valued at £306,593,000. representing 60.29 per cent, of the total. Last year’s figures were £332,525,000 and 61.64 per cent. British countries this year have taken 49.11 per cent, of United Kingdom exports, valued at £159,203.000 (last year 47.40 per cent., value £147,786,000), and foreign countries have accounted for 50.89 per cent., valued at £162,889.000 (last year 52.6 per cent., valued at £164,010,000). Rankings as Customers Although the United Kingdom is New Zealand’s principal customer, New, Zealand goods total but 5.9 per cent, of United Kingdom imports during the period. Last year the figure was 5.83 per cent. Canada is the biggest Empire supplier, with 8.45 per cent, and Australia ranks next with 7.04 per cent. New Zealand occupies third position. Of foreign countries, the United States holds pride of place with 10.31 per cent., and is, in fact, Britain’s largest supplier. The Argentine’s quota is 5.2 per cent., and Denmark’s 4.06 per cent. Altogether, the United Kingdom imports goods from 49 countries. On the United Kingdom export side South Africa ranks as the biggest Empire customer for the first

nine months of this year, taking 8.66 per cent, of Britain s produce. Australia takes second P^ ce > 'Y 1 ,! 1 7.27 per cent., and Canada thirct, with 3.83 per cent. The States again ranks as chief foreigi customer, taking 6 per cent. Argentine buys a quantity similar to that of New Zealand—3.6l per cent.— and Denmark takes 3.49 per cent. A total of 46 countries are customexs of the United Kingdom. The Continental distribution or the United Kingdom domestic exports during the first nine months of 1936 differed markedly from that during the corresponding period or 1935. The almost complete absence of exports to Italy, and substantia decreases for Portugal, Spam, and Germany, caused an appreciable ieduction in the proportion consigned to Europe. The share taken by Asia showed a smaller, but sitfnmcant decline, the reduction for Inch< l being the main feature. The United States and the British countries concerned were chiefly responsible 101 the increases shown by other continents, the increase for South Alrica brine relatively slight.