IMPORTS FROM BRITAIN

New Zealand Times, Volume LIII, Issue 12616, 29 November 1926, Page 9

IMPORTS FROM BRITAIN

MONEY SENT OUT OF EMPIRE “A DISTURBING FEATURE.” The decline in imports into New Zealand from the United Kingdom was viewed with alarm by Mr G. H. Scott, when speaking at the annual..meeting of the Association of British Manufacturers. '■One of the most disturbing features of our trade during the past sixteen years has been the steady decline in the percentage of imports from the United Kingdom,” lie said. “In 1909 the percentage of imports was 6‘2-f per cent. In 1925 this had declined to to 49 per oent. For the lirst nine months of 1925 this hacl still further declined to 461 per cent. No doubt the strike in England liad considerable effect upon the figures for 1926, but the fact still remains that a very constant decline is recorded for the last sixteen years.” The total trade with foreign countries during the period from 1921 and including the first nine months of 1926, Mr Scott pointed out, amounted to £70,663,509, of which sum trade with America and the United States accounted for £61,122,118, a debit against the Dominion of £38,228,085. “This,” said Mr Scott, “is hard cash which ' has gone out of. the Dominion and out of the Empire, and constitues a very serious loss.” Mr Scott also drew attention to the fact that exports to Canada had declined, hut imports had largely increased, showing that the Dominion’s trading basis was incorrect.