WORLD TRADE

Hokitika Guardian, 11 February 1931, Page 3

WORLD TRADE

RECENT CHANGES. (United Press Association—By Electric Telegraph.—Copyright.) LONDON, February 9.

The review of world trade in 1929 issued by the League of Nations shows the composition of Britain’s exports s gradually changing. Whereas thirty i seven per cent of her exports of 1925 I consisted of textiles and twelve per ' cent, of electrical goods, machinery mo. tors, ships, and aircraft; by 1929 textiles had fallen to twenty-nine per cent, while the other classes had risen to sixteen per cent. The share of Europe in the world’s tradqf lias steadily risen since 1926. The trade between European countries lias increased more rapidly than between Europe and other countries. The United States, Britain and France, have employed a larger proportion of the national incomes in domestic consumption and investment, with the result that their imports rose more rapidly than the exports.

On the contrary borrowing countries such as Germany, Poland, Hungary, Rumania and Yugo Slavia have been forced to the stringency of the international capital market to reduce their imports and increase their exports.

Owing to credit difficulties certain non-European States - have been obliged to settle their accounts by exporting gold and drawing upon the foreign balance.

U.S.A. TRADE. GREAT EXPORT SLUMP. WASHINGTON, February 8. The Department of Commerce has reported that the United States grain and grain products exports for 1930 were valued at 191 millions 3-12 thousand dollars compared with 286 millions 356 thousand dollars in 1929. The wheat export were 87,774 thousand bushels, against 90,130 thousand bushels in 1929. Maize showed a great drop of 6369 thousand bushels. The wheat and flour export value for 1930 was 157 million 494 thousand dollars as against 192 million 290 thousand dollars in 1929. The value of the wool manufactures reported in 1930 were 4022 thousand dollars, against 5360 •thousand dollars in 1929. ■*