RUSSIAN TRADE

Evening Post, Volume CXV, Issue 103, 4 May 1933, Page 14

RUSSIAN TRADE

VALUE OF INVISIBLE IMPORTS

A matter on which Russian quarters in London-find there is it misunderstanding concerns a reply in the House by the Parliamentary Secretary of tho Board of Trade that the total declared value of imports from Russia during 1932 amounted to £19,697.013, compared with'exports •and re-exports from this country to Russia totalling only £10,495,099. The "Manchester Guardian" refers, to: a statement made by an official of "Arcos" to the effect that these figures did not give a fair .comparison of true .trade relative Values. Soviet Russia is a buyer of services (described as "invisible exports") which arc uot apparent in Board of Trade returns. Chartering of steamers, insurance, and the business organisation in England— figures which do not appear in official statistical form —he said, reduced Russia's ndverse balance by £9,000,000 in the year 1931. The figures for 1932 in respect of similar services are not yet .available, but •the Soviet estimate is that they will be übout the same,'and if this is. correct it -iwbuld mean 'that the trade balance between the countries is about even.

Accounts of Hoadley's Chocolates, Ltd., Australia, for the year, ended December 31 show a considerable improvement on those for the preceding two years. Gro.ss [profits, at ■ £22,713, 'show an increase- of i£7718. and a net profit of £222 is shown, following a loss of £26.670-for 1031 and a loss of £15,705 for 3030.

(The Stock and Share List will be found on another page.),