TRADE OF THE WORLD

Waipukurau Press, Volume XXX, Issue 163, 19 July 1935, Page 2

TRADE OF THE WORLD

e BELOW 1929 LEVEL GENEVA FIGURES Statistics may be read in different ways, but it may be deduced from the League figures for wtorld trade for last year, which are now complete, that bottom has been touched, and that the present tendency is in some respects reassuring. Industrial activity began to increase in a number of countries in February of this year. For the whole of the past year, however, iit is to be noted that there was a slight falling off from 1933 in world exports—a matter of 3 per cent. If the attention is concentrated on Europe, it is the decrease which is most striking—namely 5 per cent. If it is directed on Africa the situation is worse —a diminution of 10 per cent. But if the exports from North and South America are considered, there was an actual upward movement which goes some way toward compensating for the drop elsewhere. Long Way to Go The summary which is available shows that in February ithe gold value ' of world trade (which in view of price depreciation .is rtot a safe guide) was only 31.4 per cent of the average for 1929. Thus we have a long way to 1 go before there is anything like a return to the prosperity of the precrisis days. i The total export trade of the world i (or at least Orf the countries whose outgoings can be ascertained) amount■ed in 1934 to 11,364,000,000 gold dol- ■ la.rs, and the total import trade to '■ 12,011,000,000 gold dollars. That there ,is not an absolute balance between ’ exports and imports, suggests that these figures shlould only be taken as approximate. The 23,375,000,000 gold dollars thus reached by the addition of j exports and imports compares with gold dollars in 1929. i It is obvious that too much import-

ance cannot be attached to these calculations in terms of old gold dollars, for many nations are off the gold sitandard, and deal with nations whose monies are subject to fluctuations. — Christian Science Monitjonr.