BRITISH TRADE.

Waipa Post, Volume 42, Issue 3305, 4 June 1931, Page 4

BRITISH TRADE.

RETURNS compiled by the British Board of Trade showed a large decrease in the value of inward and outward trade of Great Britain in the first four months of the year. Total overseas trade was valued at 28 per cent less than that of the corresponding period of 1930, and imports for the period were less by 26.6 per cent. This result was mainly due to the fall in prices for commodities, particularly those of raw materials. The change in values has been so great that it is almost impossible to compare results with those of previous years, as the value of trade gives little idea of the volume of business actually transacted. Taking the actual figures, the balance of payments for the first four months of 1931 showed excess imports to the amount of £120,773,000, compared with excess imports of £124,023,000 in 1930. Although this was an improvement on a purely cash basis, the trading position was actually more adverse in 1931 than it was in 1930, as exports in the first four months of 1931 were equal to only 57 per cent of imports, weheras in 1930 exports represented 66 per cent of imports. Imports have been fairly constant in 1930, with a monthly average of £70,000,000, but exports in March and April were disappointingly small. A heavy fall in export of cotton yarns and manufactures occurred in each month of 1931, and the cotton textile industry has reached a desperate condition owing to interference with the Indian market and to the loss of spending power in the East. The heavy industries have also suffered severely owing to the lack of demand for machinery, which is not being replaced in factories owing to the depression.