IMPORTS FROM BRITAIN

Southland Times, Issue 20044, 4 December 1926, Page 11

IMPORTS FROM BRITAIN

DECLINE DEPRECATED. MONEY SENT OUT OF EMPIRE. The decline in imports into New Zealand from the United Kingdom was viewed with alarm by Mr G. H. Scott, when speaking at the annual meeting of the Association of British Manufacturers recently. “One of the most disturbing features of our trade during the past sixteen years had been the steady decline in the percentage of imports from the United Kingdom,” he said. ‘Tn 1909 the percentage of imports was 62} per cent. In 1925 this had declined to 49 per cent For the first nine months of 1926 this had still further declined to 46} per cent. No doubt the strike in England had considerable effect iijxm the figures for 1926, but the fact still remains that a very constant decline is recorded for the last sixteen years.” The total trade with foreign countries during the period from 1921 and including the first nine months of 1926, Mr Scott stated, amounted to £70,663,509, of which sum trade with America and the United States accounted for £61,122,118, a debit against the Dominion of £38,228,085. “This,” said Mr Scott, “is hard cash which has gone out of the Dominion and out of the Empire, and constitutes a very serious loss.” Mr Scott also drew attention to the fact that exports to Canada had declined, but imports had largely increased, showing that the Dominion’s trading basis was incorrect.