BRITISH TRADE

Southland Times, Issue 23166, 6 April 1937, Page 3

BRITISH TRADE

INVISIBLE EXPORTS RISE OVERSEAS INVESTMENTS The industrial expansion and the rearmament programme necessitated a great increase in the imports of raw material into Britain last year. Commenting on this, some economists expressed serious concern, as the larger volume of imports was not balanced by an equally increased volume of exports. The actual difference in value between the two was £349,000,000, an enormous sum when considered apart from all the relevant factors. Those factors include the invisible exports of the country, as the various services such as shipping, insurance and overeseas investments are termed, the figures concerning which have now been issued. Apparently Great Britain’s income from shipping rose last year by £20,000,000 to £95,000,000, and from overseas investments by £15,000,000 to £195,000,000. These and other payments enabled the country to finance the huge rise in imports last year without disturbing materially its balance of payments with other countries. The total income from invisible trade items was so large that the adverse balance of imports over exports, namely, £349,000,000, ’ was reduced to £19,000,000. SYDNEY WOOL SALE (Received April 5, 10.30 p.m.) SYDNEY, April 5. The wool sales were resumed, 9822 bales being offered and 9197 sold at auction and 1775 privately. The market was active, all sections giving generous support. With the exception of best fleece descriptios, the prices for which remained firm, the market showed an advance of fully five per cent on the closing rates of .he last series. Greasy Merino sold to 31d