BRITAIN’S OVERSEAS TRADE

Press, Volume LXXVII, Issue 23323, 8 May 1941, Page 10

BRITAIN’S OVERSEAS TRADE

MAINTENANCE AT PREWAR LEVEL (8.0. W.) RUGBY, May 6. The Secretary of the Department of Overseas Trade (Mr Harcourt Johnstone), speaking in London on Britain's overseas trade in war time, said that in spite of the progressive loss of markets through Germany’s Invasion of half the countries of Europe. British foreign trade still managed to maintain an extraordinary high level., In the last complete pre-war year, which was 1938, Britain exported £417,000.000 worth of goods. Owing to the industry of the people and- the enterprise of manufacturers, in the first full year of, the war, 1940. Britain exported £413,000,000 worth of goods. He thought that was a truly remarkable result, considering the loss of fully 30 per cent, of the markets. Since the beginning of this year the Government had decided not to publish figures of export trade, but he could say without violating any confidences that in the first four months of this year there had been no falling off in foreign trade. It must not be supposed that because the United States had passed the Lease-Lend Bill that Britain could go on gaily without buying goods from America, but it must be remembered that it was lease and lend but not a gift.