TRADE DEPRESSION

Evening Post, Volume CI, Issue 42, 18 February 1921, Page 8

TRADE DEPRESSION

SUMMARY OF OVERSEAS

MARKETS

AW OFFICIAL RIiTIEW.

(FftSK Ctllt U-t'K COKRESrOJiJISJIT.)

LONDON, 16th.' December. Mr. Kellaway, Parliamentary Secretary of the Department of overseas Trade, has made an official statement with regard to the various aspects of the depression in world trade. He ' again, emphasises the fact 'that this' country' 3 overseas trade cannot regain its normal prosperity until the devastated and disorganised countries of Europe are placed oh a proper footing. Dealing' first with Canada and New Zealand, Mr. ICellaway says that the demand for British goods still exists in these countries. 'They, can still tmy, and they can still pay. They are, however, holding off in anticipation of 'a break in prices, and export from the United Kingdom is in fact a matter of price and delivery. Canada is indeed cr.e of the comparatively few important ■markets where financial- and exchange position is. actually favourable to the expansion of British business. „ "Although a smaller market,'" the report continues, "New Zealand offers a promising field for enterprise. The Imperial feeling is exceptionally strong, and the loss of trade during and since .the war may roughly be said to have been caused almost entirely by the difficulty New Zealand buyers have experienced in securing supplies from the United Kingdom, and scarcely at all by frdinary. competition., New Zealand is nancially much more favourably situated than any other of the large Dominions, with the exception of- Canada. Numerous complaints have been ed because British, exports have fallen below pre-war proportion, and :British traders have been accused \oi-, neglect. There was no neglect, but the reconstruction of Europe caused the market to go short. British exports to" this' market are now increasing in volume.'.'

The information obtained by. the.Der partment from various countries is' summarised thus:— ■•-:'.:'

United ijitates. —Not buying. Retailers are choked with commodities.

Frange.—Not buying on account of unfavourable exchange. Importers in certain, cases find it much cheaper to obtain supplies in ■ Prance. The only' commodities in whch a market appears to exist at the moment are cotton and woollen textiles, to sonic extent, and coal. .

Belgium.—The country is passing through a crisis caused by the wave of depression, •'and possible buyers seem to be holding their hands till prices fall substantially. British beer, however, Bnds a ready market.

Germany.—Although in many instances manufactured goods are. badly wanted in Germany, the present German import regulations prohibit the importation of manufactured goods into Germany, except under licence, and, in practice such licences are rarely granted. ' Raw materials, and foodstuffs are in demand, but the depreciation of the mark and exchange fluctuations hamper business. • Italy.—With few exceptions there has been a pronounced falling off in the demand for imported goods during the lasl six months. At present prices there-is little" or no demand' for. clothing arid woollen goods..

Near and Par East.—Slump "conditions prevail ■in Japan, Turkey, Greece, and Egypt. , ■•.;.'' -.:..- ... Latin-America.—The^desire for British manufactures >is strong, , but it-will not overcome impossibly high prices, and the prevalent irksome conditions of delivery.