TRADE RECOVERY

Poverty Bay Herald, Volume LXIII, Issue 19126, 22 September 1936, Page 2

TRADE RECOVERY

BRITAIN’S LEADERSHIP

RECAPTURE OF .MARKETS

INCREASE IX EMPLOYMENT

Britain is selling a remarkable example to the rest of the world in her progress along the road to prosperity. The announcement a few days ago (hat exports last month with a large increase over August. 1935. readied the highest total value of any August since 1930 again emphasised the steady and sure manner in which Britain is re-establish-ing her trade itt markets which for many years have been largely in foreign bands. Official trade records for July, which are now- available, show that the value of Britain s total exports in that month rose by over 08,000.000 above the June figure to 045.077.638, which was nearly £0,000,000 over tile value of goods exported ill July of 1935. lor the seven months ended Jttlv total exports amounted to £285.358*352. an increase of approximately £10.000.000 over Ifbo, and of £29,165,51*3 over the 1934 figure. All classes of industry, with the exception of coal, have shared in ilte steady recovery, despite a continuance ot economic restrictions of various kinds throughout the world. In consequence the returns of employment show that the number of workers now engaged is higher than at any time for the last Id years the only period for which records havo been kept'. HIGH LEVEL OF RETAIL PALES

‘With nearly 11,000.000 people employed earning £332.000 a week more than last year, and the unemployed less than at any time since 1930. it is natural that the factory production of food, drink and tobacco should have established records, and that retail sales should attain new high levels. Imports correspondingly increased, and the total for July was £7,000,000 higher in comparison with the June level. The demands of rearmament have to some extent been responsible for the growth of imports, but a notable increase is that of £1,550,000 in imported dairy produce, duo to greater domestic purchasing power. This fact alone is one of extreme importance tc New Zealand, and has been reflected in the higher prices recently ruling for butter and c-hecse. ‘ Although .some interests have seen a disquieting feature in the movement in imports, the Westminster Bank Review in a recent comment upon that aspect regards it as a matter for congratulation rather than apprehension. The increases, it. was stated, were substantially in categories which might fairly be regarded as non-competitive with British industry.