BRITAIN’S TRADE

Greymouth Evening Star, 29 September 1928, Page 3

BRITAIN’S TRADE

MORE EMPIRE GOODS During the first six months of the present year Empire goods imported into the United Kingdom -were over 2 per cent, above those a year before. Exports of British produce to the Empire were lower by 1.5 per cent. These facts are brought . out in an article on “Distribution of Our Overseas Trade,” which appears in the current issue of the “Board of Trade Journal.” The figures given show that in both classes there was an increase compared with the year 1913 of about 3 per cent. In the first quarter of 1927 about 73.20 per cent, of our imports was obtained from foreign countries, but for the first half of that year the percentage was 73.12 per cent., indicating a falling off in the second quarter. On the other hand, in 1928, there was an increase in the foreign percentage from 70.65 per cent, in the first quarter to 71.88 per cent, in the half-year, a development similar to that which occurred in 1913.

The percentage of our imports obtained from foreign countries declined in 1928, compared with 1927, the reduction in relative importance being most conspicuous in the case of the United States (from 18.47 to 16.08 per cent). All the self-governing Dominions and India substantially improved their position as exporters to this country, and the same is true of the colonies, possessions, and protectorates, except those in Europe, the Straits Settlements, and Malay States, Ceylon and Hong Kong.

The proportion of the exports of United Kingdom goods taken by foreign countries increased by 1.52 per cent, in the first half of 1928, compared with the first half of 1927; the increase in the first quarter of 1928 was 1.31 pei- cent., so that foreign countries were better customers of ours in # the second quarter of the year than in the first.

Exports to Europe in the first half of 1928 were 30.07 per cent., compared with 29.82 per cent, in the first half of 1927. and with 33.99 per cent, in the first half of 1913. Among other foreign countries China, the United States. Brazil, and notably Argentina show improved percentages. The relative decline in our exports to Empire countries is more than accounted for by the reduction in Australia’s percentage of our exports from 9.51 per cent, in 1927. Exports of imported merchandise to foreign countries declined in the first half of 1928 compared with the .first half of 1927 from 90.11 to 89.62 per (tent, of the total re-exports, a fall from 8.97 to 1.69 per cent, in re-exports to Russia not being completely offset by increased percentages to Germany, France and the United States.