BRITAIN'S FOREIGN TRADE

Dominion, Volume 11, Issue 134, 23 February 1918, Page 10

BRITAIN'S FOREIGN TRADE

INFLUENCE 01? WAR TIMES.

Already considerable advantage has been gained by the limitation of exports and imports (says a recent issue of "Engineering"). Before the v;ar we were importing at the rate of about 58,000,000 tons per annum, but last year the imports fell to -13,000,000 tons, and this year it will be considerably less. Of the 58,000,000 tons rather less than a quarter was foodstuffs, the remainder was raw and other material for peace requirements. Last year, however, two-thirds of our supplies woto foodstuffs, munitions of war, and material for the manu. faeture of munitions, leaving only about 14,000,000 tons for productive industries, as compared with upwards of -10,000,000 tons ill pre-war times. In the present year it would seem that we are .likely to' get even less than the 14,000,000 tons for productive industries. The total imports in 1913 were valued at .£769,000,000, of which about <£94,000,000 came from tho countries which # are now enemies. In 1910 our imports' were valued at .£949,000,000, none of which fame from enemy countries. The rise in price accounts for a large part of tho phenomenon of an increase in value irith a decline in bulk from 58.000,000 to 43.000,000 tons; on the basis of pre-war priOes the cost would have been about .£800,000.000. This is due to the different class of commodity being imported, a far higher price beins: paid for the unproductive material of war, which circumstances have compelled us to substitute for the import? of peace time. The value of our exports and manufactures In the year prior to the war was ■£525,000,000, while last vear they were valued at .£506,000,000; but if the prices had remained the same as in 1913 the total would onlv have been «£356,000,000. The export trado has therefore lieen reduced by about 28 por cent., 10 per cent, having been exports to our present enemies, and the remainder to other parts of the British Dominions, to our Allies, and to other foreign countries. Our oxports to Allies have increased to some extent but this affords no substitute for the loss of permanent trade. Our exports to other foreign countries and to the Dominions oversea have fallen off in value by about ,£100,000.000, representing on pre-war values 0C337,000,000- -nearly one-third of the, total.