FOREIGN TRADE MAINTAINED

Timaru Herald, Volume CXLIX, Issue 21957, 8 May 1941, Page 5

FOREIGN TRADE MAINTAINED

Britain Delivers The Goods

(Rec. 8.30 p.m.) RUGBY, May 6. The Secretary of the Department of Overseas Trade, Mr Harcourt Johnstone. speaking in London on Britain’s overseas trade in wartime, said that in spite of the progressive loss of markets though Germany’s invasion of half the countries of Europe, British foreign trade still managed to maintain an extraordinary high level. In the last complete pre-war year, which was 1938, Britain exported £147,000,000 worth of goods but owing to the Industry of the people and the enterprise of manufacturers in the first full year of war. 1940, Britain exported £413,000.000 worth of goods. He though that was a truly remarkable result considering the loss of fully 30 per cent of her markets.

Since the beginning of this year the Government had decided not to publish the figures of the export trade, but he could say without violating any confidences that in the first four months of this year there had been no falling off in foreign trade. It must not be supposed that because the United States had passed the Lease and Lend Bill that Britain could go on gaily without buying goods from America, but it must be remembered it was lease and lend, not a gift.