LEADER IN TRADE

Dominion, Volume 27, Issue 17, 14 October 1933, Page 7

LEADER IN TRADE

Regaining Old Status

BRITAIN’S RECOVERY

Secure National Finances

BETTER EXPORT FIGURES

(British Official Wireless.) Rugby, October 12. The President of tlie Board of Trade (Mr. Walter Kunciiuan), speaking last night, said that Britain was in the happy position of regaining bit by bit her old status ns the great major trader of the world.

A comparison of figures for the first half of the past three years showed in the vast majority of cases that the United Kingdom’s share of imports into foreign countries had either been steady or had increased, and in some cases the increases had been very large. By contrast with the summer of 1931 Britain had now attained the position of being the strongest financial country in the world with the best credit. She had been able to place her national finances upon a foundation almost as secure as before the war. <

After referring to the recent trade negotiations with the Scandinavian countries and their effect on the coal mining industry, he said that the improvement on the North-East Coast of Britain had been most marked. The Government was now going to do wha 1 : it could for the British textile industry, and after that would turn its attention to steel.

Although there was now a long list of import duties in force in Britain, the cost of living remained very much where it was in 1931 —an achievement without parallel in the history of modern industrial countries.

Mr. Runciman hopes shortly to begin negotiations for a new trade agreement with Uruguay, and will undertake new negotiations with Poland before the end of the year. There are also prospects of an agreement with Spain and Italy.

INDUSTRIAL ADVANCE

Better September Returns

(British Official Wireless.)

Rugby, October 12.

The improved trade returns for September combined with more encouraging employment figures for that month add a further indication of Britain’s progress toward industrial recovery.

A long-distance view of the situation is particularly favourable. At.the end of the first nine mouths of this year the adverse trade balance stood at £182,270,000, as compared with £210,078,000 in September of last _ year. There has also been a slight rise in wholesale prices, which, on the average, were 1.1 per cent, higher as compared with September of last year. _ The following table gives a comparison of Britain’s overseas trade for September for the last three years, the 000’s being omitted: —

Month of September.

The following table gives a comparison of Britain's overseas trade for the first nine months of the last three years, the figures again representing millions (000's omitted)

Excess imports over t’l. exports 280,707 210,080 182,1i8

Sept. Sept. Sept. 1931. 1932. 1033. £ £ £ Imports 68,318 54,267 57,803 Exports 20,846 28.229 32,226 lie-export’ .... 3,763 2,902 3,403 Total exports .. 33,609 29,131 35,629 Excess imports over t’l exports 34,709 25,130 22,174

First Nine .Months. 1931. 1932. 1933. X" Imports 6212453 520.215 487,823 Exports ....... 292,391 271,107 2GS.390 Re-exports 48,255 30,028 •5 / ,—vXJ Total exports .. 340.640 310.135 305,045