OVERSEAS TRADE

Poverty Bay Herald, Volume LV, Issue 17234, 14 April 1930, Page 10

OVERSEAS TRADE

POSITION OF BRITAIN “SOME PROGRESS MADE" IXTEK-E-MP.il?!-; DEALING* LONDON, fob. _'i. Tlu: annua) report of the Liverpool Steam Ship Owners’ A asocialion .surveys tl;e Irade position of t lie remitry, ami makes some pertinent remarks on the subject, of inter-Empire trade. In an analysis of the overseas trade of the United Kingdom, it is pointed out that imports in 1 showed an increase in volume of 4,000,UU0 tons on those of 1928. A satisfactory feature, the report states, is that the hulk of the increase is accounted for by a rise of M.d00.000 tons in imports of raw materials, but imports of manufactures have increased by ’>oo,ooo tons, and in 1929 were 74 per cent, greater than in u»i;;. In I'llt; the percentage of British tonnage engaged in bringing rn the foreign trade of the country was (id.B per cent.; in 102!) it was fid. Exports, including re-exports, other than coal, in 1020 increased in volume over 1020 by .1.151)0,0(10 tons. Of this increase, the report, states. 000,000 tons is accounted for by manufactures. The increase in re-exports is entirely in manufactures. Exports of coal have increased by over 10,000,000- tons, but still fall far short of those of 1013. In regard to the shipping tonnage employed in carrying out the ’ foreign trade of the country, in 1011.5 the British percentage was nil; in 102!) :it was 00 per cent. DECLINE IN COAL EXPORTS. • The trade, ligates for 1920 as a, whole, the report states, ‘‘indicates that some progress lias been made during the year toward the re-establish-ment of the nation's overseas trade on a stunt der basis. In volume the total of exports, excluding , coal, exceeded that, of 19115, but we have continued to import on a scale much greater than that of 1912. and the increase in the volume and value of our imports is not. being met, as it was prior to 1914, by. a corresponding increase in the volume and value of our exports. Exports of coal fall short of those of 191.1! by over 12,(K)<),()0I) tons. la 1929 the value of our exports as a. whole represented 99 per cent, of that of our imports, compared with a comparative figure, of SO per cent, for 19R5, ■“Generally, production, cost remains at a level;which makes it difficult, for ns to sell in the open markets 'of the world, and the rates of pay in .the sheltered trades remain at an uneconomic level and react to the detriment of our competitive power and reduce the volume of sales in the export trades. The wage-earners in those last-named, trades, in their own low wages and lack of employment, continue to carry the burden of the comparatively high wages paid in those industries whichAire not exposed .to foreign competition. At home,.industry and commerce are hampered by high taxation, and abroad, countries which, are able and anxious to sell to us make fratio impossible by persisting in the •maintenance of tariffs and other t rade barriers and .-prohibitions. In the result the shipping industry continues, in u marked degree, to sull'er .front iinder-employiiienl.” BARRIERS TO TRADE. Reference is •made to the possibility of incleasing trade within the Empire and to the meeting of the Imperial Conference lids year. “A great deal should bo .possible,” the report affirms, “provided we arc all as willing buyers as we giro willing sellers. InterEmpire trade can never bo substantially increased merely by increased imports by this country from the Dominions; such imports must in tho main bo offset and paid for by a cor-! responding increase in purchases by the Dominions of our exports. ~“As matters stand, the trade bartier? which some of the Dominions erect against us deprive us of the '•nance of increasing our purchases from them. As was pointed out by the Committee on InYlustry and Trade, it is a remarkable fact that' sinco the war the. main increases of tariff rates on British exports have been within ike Empire, whore the average ad valorem incidence has arisen by nearly two-thirds, while in foreign countries the average ad valorem incidence has decreased bv one-fifth, ’' —Auckland Herald. • j