BRITISH TRADE

Evening Star, Issue 21785, 30 July 1934, Page 9

BRITISH TRADE

SITUATION REVIEWED STATEMENT BY MR RUNGIMAN (British Official Wireless.) Press AssOciatioa—By Telegraph—Copyright. ‘RUGBY, July 27. Reviewing the British trade situation in the House of Commons, Mr Walter Runciman (Preside of the Board of Trade) said that in the first six months of this year the exports totalled £190,000,000, ’which was an increase of £15,ObO.OQO over the first six months of 1933. Among the notable increases in the exports trade was woollen worsted, which’was £3,000,000 better for the first six months of this year than for the corresponding period of 1933. The exports of machinery, iron, and steel were each about £2,000,000. These were nert sensational figures, but they showed a tendency in the right direction. No improvement had occurred in the cotton trade, which remained one of the most unfortunate of the great industries. He, however, was hopeful that schemes now being discussed in Lancashire might produce better results. The unemplovment figures in engineering decreased by about 80,000 compared witli a.year ago. There had been during the last eighteen months a remarkable change in the country’s employment figures, but a further big reduction could not be expected from expansion of the honie market alone, winch had done so well as nearly to reach saturation point. It was necessary to rely on world trade for further substantial improvement in employment figures. World trade was, unfortunately, still paralysed, and of many 1 regions the best they could say'nas that the decline was being arrested. Britain’s share in the restricted Wprld trade was definitely on the increase. Mr Runciman said he had signed commercial agreements with thirteen ’countries, and negotiations were prOecedinr with four others. In every case the agreement showed an increase of British eisppfts to the countries concerned. He expressed the opinion that world trade was too much at the mercy of sudden political disturbances for him to make any optimistic prophecy, but he thought the essential conditions for a trade revival were present if only general restoration of confidence abroad «iOuld be secured. ,