BRITISH TRADE STATISTICS.

Taranaki Daily News, 15 December 1932, Page 4

BRITISH TRADE STATISTICS.

It cannot ba said that the United Kingdom trade statistics for November or for the first eleven months of the calendar year give room for undue optimism. In the last eleven, months imports and exports both show a heavy fall as compared with the figures for the corresponding period last year. As many of Great Britain’s imports are in the shape of raw material or semi-manufactured commodities to be utilised in the fiianufactures for export purposes the relationship between imports and exports is closer than in countries which export principally primary products. With exports fallen during the eleven months by over £300,000,000 it can be seen that smaller quantities of imported raw material were likely to be required for working up into manufactures for export. Limitation of imports has been increased, too, by the need for economy in Great Britain. It has had the same effect in New Zealand, where many commodities which at one time almost ranked as necessities have now to be regarded as luxuries which must be done without. But though the figures for eleven months are not very cheering there was a little improvement shown last month. There was a smaller drop in exports than has been recorded for a very long time, and the fall in imports was regarded as being partly due to a determination to utilise home material and resources wherever possible. Last week’s London trade review emphasised that a spirit of confidence was returning to the traders of Great Britain, and that retailers were enjoying quite a revival of trade. The effect of the abandonment of free trade- is likely to increase as time goes on, and with it an increase in the industries arid therefore the

spending power of the United Kingdom. There is no reason to fear that if the same determination continues national efforts towards recovery will fail of their purpose. .