TRADE OF THE WORLD.

Hawera Star, Volume XLV, 26 October 1925, Page 9

TRADE OF THE WORLD.

GRIP OF THE EMPIRE.

THE PROPORTION RETAINED. Although Great Britain is suffering from economic and industrial depression, caused largely by a shrinkage of exports! from the, pre-war level, indications are that, the country still is retaining its pre-war proportion of the world’s trade. In a review by Barclay’s Bank, it is stated that if the relative position of Great Britain on the list of importers into various countries is regarded as a criterion, evidence of progress is to be found. For instance, before the war, the Argentine purchased more goods from Great Britain than from any other country. During the war, the premier position inevitably was lost, but notwithstanding many serious handicaps, the returns for 1924 show that Great Britain again heads tne list, and the United States, despite its geographical and other advantages, occupy second place. Taking a wider view of the situation, British exports have been expanding for the past few years, for while in 1921 the volume was only 49.8 per cent of the pre-war rate, the percentage increased to 68.9 in 1922, to 74.5 in 1923, and to 75.5 in 19.24. Further, the report of the Imperial Committee on Industry and Trade points out that in 1923 Great Britain’s proportion of the world’s export trade was slightly higher than before the war, and although it is possible that the results for 1924 and 1925 are less favourable than those for 1923, it would seem probable that the country was still retaining its pre-war proportion of world trade. Even in the matter of unemployment, the larger figures are mainly due to an increase in population, coincident with a decline in emigration, the number of workers employed in the country being as high as before the war.

The value of trade between Great Britain and the rest of the Empire may be illustrated by the fact that in the 10-year period before the war, an average of 34.75 per cent, of British exports was consigned to Empire designations, this percentage being increased to 37.2 in 1923 (disregarding exports to the Irish Free State), to 38.5 in 1924, and to 39.4 in the first half of the current year. In 1924 Great Britain sold to Empire countries, including the Irish Free State, exports valued at over £332,000000, out of a total of £795)000,000, while in the previous year the Empire took over £300,000,000, of which over £260,000,000 weTe manufactured goods, compared with total sales to other countries of £467,000,000,, of which £319,000,000 represented manufactures. If a comparison be made on the basis of per capital purchases, the value of Empire custom becomes still more striking—New Zealand heading the list.