BRITAIN’S EXPORT TRADE

Otago Daily Times, Issue 21998, 6 July 1933, Page 7

BRITAIN’S EXPORT TRADE

A BRIGHTER OUTLOOK IMPROVEMENT IN INDUSTRIES (British Official Wireless.) (United Press Association.) (By Electric Telegraph—Copyright.) RUGBY, July 4. Dr E. Burgin (Under-secretary for Trade), speaking on the Board of Trade vote in the House of Commons, said that the trade position and the prospects of the country could be summarised in the phrase “ a general improvement, definite and marked, in conditions of restrained but increasing confidence.” The tendency of international trade to decline was not yet arrested, but the position of Britain’s export trade was certainly not unsatisfactory in the light of world trade as a whole The improvement had been widespread, covering 90 of 100 industrial groups, and 000 of the whole 700 areas for which statistics were available. There was a notable in the building, cotton, wool, engineering, boots and shoes, motor, and shipbuilding industries. There was a further substantial improvement in employment during May, this being the fourth successive monthly improvement. At the end of May 9,057,000 insured persons were employed, or 120,000 more than in the preceding month, and 372,000 more than in January. This was the highest volume of employment among insured pe.rsons at any time since September, 1930. All British industry was healthier than for some time, and industrial and commercial activity would respond very quickly to successful results in the international field. The total volume of world trade was continuing to shrink. Britain’s share was maintained, but it was a somewhat melancholy satisfaction when they thought of the tremendous interest they held in the maintenance of world trade. Dr Burgin, referring to the trade agreements, said that the result bad been to give help in the balance of trade, and for the first five months of the present year that balance showed an improvement of £30,000,000 over last year. DISSEMINATION OF TRADE NEWS. A CENTRAL BUREAU. LONDON, July 4. The Empire Chambers of Commerce Congress agreed to the principle of a central press bureau for the dissemination of trade news to the Home, dominions. and colonial press. “ UNJUSTIFIABLE OPTIMISM.” LONDON, July 5. (Received July 5, at 8.30 p.m.) In the House of Commons Sir Herbert Samuel declared that Dr Burgin’s unjustifiable optimism infuriated him. Nearly 38 per cent, of Britain’s miners were unemployed and fully half a million men had not had a job for over a year. The figures quoted showing an improved balance of trade were misleading, as they were largely due to currency movements. From the viewpoint of the British export trade Ottawa had been a miserable failure.