BRITISH CAPITAL

Dominion, Volume 16, Issue 169, 5 April 1923, Page 5

BRITISH CAPITAL

FALL IN OVERSEAS INVEST-

MENTS

EXPORT TRADE IMPROVING

During the first six months of 1922 the amounts of new capital invested overseas amounted to approximately £103,000,000, of which over one-half went to foreign countries. During the last six months, there was, however, a sharp fall, the amount of capital for overseas being only £32.000,WU, of which about £4,400,000 was invested in foreign countries. . Of tho total amount invested within the Empire (£75,500.000) £58,400,000 was for dominion governments, etc., £7 430 000 for municipalities and other public bodies, and -£BOO,OOO for railways, the remainder—rather under £9 000,000— being for various commercial and industrial purposes. In the case of the foreign countries the proportion going to governments was much smaller—£l4,2so,ooo out of a total of £59,700,000— municipalities took another £7,100,000, railways €14,530,000, and the balance of £23,100.000 went to various other purposes. . Whether this falling off in capital investment will be reflected in the export trade during coming months remains to be seen, says a report from the Department of Overseas Trade, to hand bv the latest mail. There was. at any rale, no obvious effect of it during the last quarter of 1922, for it would appear that where allowance is made for a slight fall in the level of export prices during the last quarter, there was a substantial improvement as compared with each of the previous three quarters of 1922. The volume of our export trade during the last three months was equivalent to 75 per cent, of that of 1913, the proportions for the previous quarters being 71.3 per cent.. 64.3 per cent., and 65 per cent, respectively. The figure for November, indeed, was just over 80 per cent., representing a volume of trade equal to that of amnion th since the war.