BRITAIN’S TRADE

Sun (Auckland), Volume IV, Issue 1054, 19 August 1930, Page 11

BRITAIN’S TRADE

A LOP—SIDED SHOWING AN UNFAVOURABLE BALANCE AluCh has been heard recently of tho unfavourable position in which Great. Britain stands in her relutions with the rest of the world with respr‘uL to trade balances. As prnotimtlly the only country left which adheres to :L policy of free trztdo, her markets are nioro or less (lumping grounds for eountries sheltering behind high tarii‘t' barriers. A very interesting work on this question has been published hy at well—known English economist, in which the writer, Working on unnuztl averages of 1924-1928, shows that, of the total ini» ports of the overseas Empire, vulued zit; .L‘flSIfiUUJWU, just over 37 per cent; am from the United Kingdom, 13 “(31' cvnt‘. from other British countries, and approximately 50 per cent. from foreign or non-British eountries. ()t' the exports of thl: overseas Empire. valued sit £1,038,000JH10. about 36 per cent. are sent. to the United Kingdom, 10 per cent. to other British mmntrivs, and 54 per aunt. in ioroig'n wuntrjvs. Thom are striking (lii‘fm‘m'ices in tho trade liulunees ut’ the United Kingdom with. foreign countries, which are graphically displayed, hut some of them may be set. out us under:——~ FOREIGN ('UUNTRISI‘J » Imports Exports Country. Ivy l’.l\'. by 11k" (’OOO uinit'd) (000 oniil'd) .t: a.” United States .. .. 2116,5 t 411,455 Argentine .. .. .. 70,408 27.525 Denmark .. .. .. 410,40” 10,6115 France .. .. .. 57,1113 28,:153 Belgium .. .. .. 40,6112 17.81.". Germany .. .. .. 54,38?! 21:),I‘JX Netherlands .. .. 41,3321 22,1117 Itzlly .. .. .. .. 16,1111 14,909 Norway .. .. .. .. 11,987 7,827 Sweden .. .. .. .. 22,213 10,573 Spain .1 .. .1 .. 17,814 9,598 Czeelm-Slovukiu. .. 10,150 1,1;53 Russia. .. .. .. 17,947 4,837 Japan .. .. .. .. 17,306 6.90:; Brazil .. .. .. .. 3,902 14,560 Egypt .. .. .. .. 25,542 13,264 Brazil‘s position will be noted as the only country in the group whose trade balance is i'uvourul'ilo to the United Kingdom. BRITISiI 13(3MINIONS imports Exports Country. by U.K. by (LR. ('00!) omit'd) (’OOO ornigd) India. .. .. .. .. 53,441 $5,465 Australia .. .. .. 44.862 59min New Zenlnnd .. .. 40,457 230.577 South Afrii‘a .. .. 10,55” 510,331 lrlsh Free State .. 43A“) $8,710 Canada. .. .. .. .. 59.572 23,127 The per capitzt purchase of imports from the United Kingdom, 1929. was highest in New Zealund. with .1214 11s 11d 3. head. second in Irish Free State, £l2 55 3d; third, Australia, £8 10:; 2d; fourth in South Africa, £4 35 3d; fifth, British Malaya, {it £3 195 Ed, and sixth Canada, £3 125 6d. indiu was lowest in the British Empire at. 4s 11d. In foreign countries the. highest per capita. was Norway. £3 10s 7d; Denmark was second, £3 0s 8d; thifd Netherlands, £2 165 3d; fourth Argentine, £2 125 10d; twelfth on the list was the United States, 75 6d, and last the Soviet Union, 6d. Since these figures were compiled both Australia and the United States have raised tariff walls to a. height which make exports 01! many commodities to within their boundaries coin—mercial impossibillties, thus shown”: the balance of trade against Great Britain in a. still more unfavourable light. _