MARKED DECLINE

Evening Post, Volume CXXVIII, Issue 103, 28 October 1939, Page 11

MARKED DECLINE

OVERSEAS TRADE

WAR FACTORS IN BRITAIN

COMPARISONS WITH 1914

(British Official Wireless.) (Received October 28, 11.30 a.m.) RUGBY, October 27. Overseas- trade during September was affected very considerably, as was expected by the onset of war conditions. The prime cause was no doubt the uncertainty and dislocation caused by the changeover from peace to war conditions. j The requisitioning of vessels for the expeditionary forces, the institution of the convoy system, the diversion of shipping from non-essential to essential trades, and the special difficulties of trade with Scandinavian countries were all contributing factors. The immediate institution of machinery for controlling certain exports, comparable with that which grew up gradually in the course of the war in 1914-18, also affected various branches of the export trade somewhat severely at the outset. It is noteworthy, however, that the reduction of exports in September compared with a year earlier was relatively smaller than in August, 1914. Imports last month were valued at £49,900,000. The reduction compared with September, 1938, was £25.100,000, or 33 per cent. At the outbreak of the last war the fall in imports was j rather less—the figures for August.! 1913 and 1914, showing a fall from £56.000.000 to £42,400,000, or 24 per cent. The value of exports of United Kingdom goods in September, amounting to £23,100,000, was £16,700,000, 42 per cent., less than in September, 1938. These figures exclude Government stores sent abroad for his Majesty's forces. The comparative • figures for August, 1913 and 1914, were £44,100,000 and £24,200,000, the reduction being 45 per cent.