WORLD TRADE REVIEWED

Hawera Star, Volume L, 10 February 1931, Page 5

WORLD TRADE REVIEWED

EUROPE’S SHARE INCREASING

CHANGE IN BRITISH EXPORTS TEXTILES PERCENT Mi E DROPS. (United Press Association —By Electric Telegraph Copyright, l LONDON, Feb. 9. A review of the world trade for 1929 issued by the League of Nations shows that the composition of Britain’s exports is gradually changing. Whereas 37 per cent, of Die exports for 192;> consisted of textiles and 12 per cent, electrical goods, machinery, motors, ships and aircraft, by 1929 textiles had fallen to 29 per cent, while the other classes had risen to 16 per cent. The share of Europe in the world's trade has steadily risen since 192 b. Trade between European countries has increased more rapidly than between Europe and other countries. The United States, Britain and France employed a larger proportion of their national incomes in domestic consumption and investment with the result that imports rose more rapidly than exports. On the contrary borrowing countries such as Germany, Poland, Hungary, Rumania and Yugo-Slavia were forced by the stringency of the international capital market to reduce exports. Owing to credit difficulties. certain non-European States were ob-i liged to settle accounts by exporting gold and drawing upon foreign balances.