DESPITE THE U-BOATS

Waihi Daily Telegraph, Volume XXXXI, Issue 9640, 27 June 1941, Page 2

DESPITE THE U-BOATS

NO FALLING-OFF IN BRITAIN’S FOREIGN TRADE PRE-WAR LEVELS MAINTAINED LONDON, May 12. There was no falling-off in Britain’s foreign trade from January to April of this year. Mr llarcourt Johnstone, Minister for Overseas trade, states that he can say this, although file Government decided at the beginning of the year not to publish export trade figures. “In spite of the progressive loss of markets through Germany's invasion of half the countries of Europe,” he said, our foreign trade still managed to maintain an extraordinarily high prewar level. In the last complete prewar year, which was 1935, we exported £171,000,000 worth of goods, but as a result of the industry of our people and the enterprise of our manufacturers In the first full year of war, 1940, we exported £413,000,000 worth of goods. That was a truly remarkable result, considering that we had lost fully 30 per cent, of our markets.”