BRITAIN'S CUSTOMERS

New Zealand Herald, Volume LXIX, Issue 21273, 29 August 1932, Page 11

BRITAIN'S CUSTOMERS

EMPIRE AND FOREIGN PURCHASES FROM DOMINIONS * EXTENT OF RECIPROCITY BOARD OF TRADE FIGURES Authoritative figures relating to Britain's imports and exports, which have an added interest iu view of the agreements reached at Ottawa, are contained in tho accounts of the. British Board of Trade for the year ended December 31, 1931. In striking manner they depict the relative values of Britain's Empire and foreign markets and show the degree of reciprocity exercised by Britain's customers. In the year reviewed (he total merchandise imported into Britain from all countries was £362,174,709, Empire countries supplying goods valued at £247,663.330, or less than one-third of tho total. Exports to all sources were valued at £389.163.817, of which British countries purchased goods valued at £170,606,512, or less than one-half. Britain's best customer, on a basis of total value, was British India, to which merchandise valued at £32,304,122 was exported. Next conies the Irish Free State, with £30,413,960, an interesting return in view of tho present dispute. The imports from the Irish Free State in the same year were £36,652,745. Trade with United States The attitude of watchfulness with which the United Stales regarded the Ottawa Conference is well appreciated after a perusal of the figures, which show that Britain, apart from the Empire as a whole, is an extremely valuable market for that country. Tho total value of goods which the United States sold to Britain last year was £104,171,028. In other words, the value of Britain's purchases in America was 40 per cent of the value of her purchases in the whole British Empire overseas. As against this, the United States spent only £17,101,263 in -Britain. No other country found itself in anything approaching such a favourable position. Germany, which comes next on the list, with exports to Britain valued at £64,150,058, spent £18,412,871 in return. Tho following table shows the relative positions of a number of principal countries exporting to Britain, some of the smaller countries whose exports compete with New Zealand produce being included at the end : * Sold to Bought Britain From Britain 1931 1031 United States ..£104,171,028 £17,101,263 Germany .. .. 64.150.058 18,412.871 Argentina .. .. 52,763,706 14,780,272 Denmark .. .. 40, 097,188 8,633.813 Australia .. . , 43,674.343 14.553,804 France .. .. 40.882.808 22,537,313 New Zealand .. 37,832.232 11.196.327 India . . . . 36,743,140 32,304.122 Irish Free State .. 30,652,745 30,413.960 Netherlands . . , 35.208,608 13.685.063 Belgium .. .. 33.231.022 10.016.005 Canada .. .. 32,816,057 20,500,409 Soviet Union .. 32,178,8<"8 7,121,349 Sweden .. .. 17,340. OAS 7.743.765 Italv .. .. 15.148.512 9,917,366 Spain .. .. 14.277.923 -5,293.823 South Africa* .. 13.129.412 21,848.821 Cevlon .. .. 31,994.998 2.703,218 Finland .. .. 11,627,271 1.602.370 Switzerland . .. 11,365.333 4.143.002 Egypt .. 10,856,780 6,650.427 Japan .. 7,108,930 6.166.360 Latvia .. .. 2,937,034 590,712 Estonia .. .. 1.912.460 212.080 Lithuania ... .. 1,490.727 301,313 '.Does not include Rhodesia. East Africa and South-west Africa Territory, nil good customers of Britain. Value of Purchases Falls A survey of the shows in nearly every case that in 1931 Empire countries Fpent in Britain an amount greatly smaller than in the preceding two years. Pfirtirularly is this so in the case of Australia, the effect of the prohibitive tariffs introduced as part of the economy policy being very marked. Imports into Australia from Britain in the past three years were as follows: £31,677,581; 1929, £54,235.261. In most instances not only did the value of purchases decline, but the percentage of imports from, as against exports to, Britain also declined. Notable exceptions were South Africa and the Irish Free State which, although their value of trade decreased, both purchased a relatively greater amount from Britain in 1931 than they did in 1929. The following is an analysis of the official figures, showing the degree of reciprocity, expressed as a percentage, which the countries named extended to Britain:— Percentage of Reciprocity 1931 1029 South Africa .. 366 134 India . . . . 88 124 Irish Free State 83 80 Canada .. ..63 75 Australia 32 97 New Zealand 29 45 It is of interest to note that in 1931 Denmark secured from Britain trade worth £8,864.956 more than New Zealand secured, whereas Denmark spent with Britain £2,562,514 less than did New Zealand, or a reciprocity percentage of 18 compared with the Dominion's 29.