U.K.-Commonwealth Trade Lower

Press, Volume CVII, Issue 31379, 26 May 1967, Page 7

U.K.-Commonwealth Trade Lower

■ (N.Z.P.A.-Rtuter— Copyright) LONDON, May 25. Commonwealth purchases of British goods fell last year for the first time since 1962 at a time when Britain was exporting more to the rest of the world. In the reverse direction Britain bought less from its major Commonwealth trading partners. The shrinking British-Com-monwealth trade position was reported in a memorandum published by the general economics division of the Commonwealth Secretariat.

The statistics are seen in London as significant in relation to Britain’s moves to join the European Common Market The report showed that British exports to the Commonwealth had fallen by £39 million from the 1965 level of £1349 million. Commonwealth sales to

Britain dropped by £BO million from the 1965 total of £1686 million. There was a background of advancing British shipments to the Common Market, the European Free Trade Association, and Japan. N. American Buoyancy The report said demand conditions in 'the United States and Canada were exceptionally buoyant, and these markets took an unusually high proportion of British exports in 1965. But the increase in the value of British shipments to Canada was more than offset by the setback in exports to Australia from the boom level of the previous year. Exports to India were lower because of the very severe foreign exchange shortage in that country, while those to Rhodesia were practically eliminated as the result of the breach in relations.

There were minor fluctuations, up or down, in exports to other Commonwealth countries.