LOPSIDED TRADE

Wanganui Chronicle, Volume 76, Issue 106, 8 May 1933, Page 6

LOPSIDED TRADE

THE BRITISH POSITION SUGGESTED IMPORT QUOTA SOME IMPRESSIVE FIGURES WELLINGTON, May 6. Mr. Amery’s criticisms of the British Government’s trade agreements with Argentina and Denmark appear to bo more or less endorsed by Sir Harold Beauchamp. In the course of an interview obtained by the Post on the subject of intra-Impcrial trade and the need for its expansion Sir Harold said ho had had certain figures taken out of official reports which were rather startling in their revelation of the lopsided trade of Groat Britain with manv foreign countries. ' “As Great Britain has now adopted a modified form of Protection,” h p said, “that weapon should be a most valuable one for bargaining purposes in respect to trade done, between the United Kingdom and other countries. Up tn the present, time the volume of exports from England has. !n myopinion, been entirely disproportionate her imports. This the following table will plainly show. The third column shows the percentage of United King dom exports to, as compared with im ports from the various countries:

“Of course, in regard to some of Great Britain’s exports, one has to take into account the invisible exports, which comprise freights, interest and other services. That would specially apply to Canada, Australia. Now Zealand and the Argentine, also to some Eastern countries. Argentine Imports “I believe that if imports -wore to bo fixed on a quota basis, in the proportion that, the exports hoar to the imports, the Dominions would benefit enormously, more particularly in re gard to wheat, dairy produce, and frozen meat.. Take, for instance, as an example, the Argentine, from which, it will bo noted, the imports into the United Kingdom for the year 1031 amounted to no less than £52.<44,214. as against exports. £15.055.490 the percentage of exports to imports being onlv 28.54 per cent. It is web known that whilst the Argentine looks to the United Kingdom to take the bulk of her primary products, she im ports mots of her requirements from the United States of America, whose tariff excludes produce from the Argentine. Need for a Better Basis “Already some countries, I think, arc apprehensive as to what action England will take, for recently delegations from Denmark and the Argentine have been discussing with the British Government the question of expanding their trade relations upon a more satisfactory basis. “Referring to Denmark. I would specially draw attention to the fact that British imports from that country in 1931 totalled £40,695.558. ns against ex-ports £9,213.426, or only 19.73 per cent. Yet that country enjoys th" same or almost the same free market for the disposal of her goods as the oversea Dioniinions, in which the Mother Country is so vitally interested. “T would commend the figures I have quoted above to the careful eon sideration of readers of the Post, for I think thov are. extremely interesting and illuminating nt the. proosnt time They assuredly point to the urgent need of some adjustment in the alto

gather one-sided trade that so many foreign countries enjov in their com mercinl relations with Gmnt Britain.

mports into Exports from nited King- United King- Per dom from dom to cent. Country. £ £ 28.51 Soviet Union . . 32,285,563 9.203.214 Sweden 17,342.035 8,463,188 48.80 Norway 8,630,233 7.860,037 91.08 Denmark 46,695,558 9,213.426 19.73 Germany .. .. 64,162.625 32,001.793 49.88 Netherlands 35,198.580 16.699,678 47.44 Belgium 33.189.870 14.572.635 43.91 France 40.921,520 32,019,718 78.25 Switzerland 11.361.750 4,991,434 43.93 Spain 14,248, *75 5,516,026 38.71 Italy 15.147,786 10,643,933 70.27 Czechoslovakia 6.619,588 1.464,463 22.12 China 7,773,074 7.973.361 102.58 Japan 6,952,533 6,332,271 91.08 United States . 104.009,495 26.212.447 25.20 Argentina 52,744,214 15,055,490 28.54 S. Africa Union is.m.r.i 22,930,095 174.77 British India . .36,711,288 33.090.021 90.14 Australia 45,679.237 15,152.823 33.17 New Zealand 37,775.155 11.731.109 31.06 Canada 32,840,526 22,151,044 67.45