SEABORNE TRADE

Waikato Times, Volume 127, Issue 21198, 22 August 1940, Page 7

SEABORNE TRADE

REVEALING FIGURES NAZI LIES PROVED EXPORTS INCREASE (United Press Assn.—Elec. Tel. Coryrlg-Ht) (Received August 22, 2 p.m.) LONDON, August 21 Conclusive proof of the grossly exaggerated reports of the Germans regarding their blockade of Britain, and the amount of damage they have inflicted on English ports and shipping is contained in the export and import figures for the United Kingdom, which have just been released. The figures prove that England’s seaborne trade, instead of being restricted, has been expanded since the war started. Exports in July were valued at £31,189,244 as against £36,211,458 in June and £40,355,025 in July of last year. Imports totalled £87,007,530 against £90,779,741 in June and £78,251,309 in July last year. The respective totals for re-exports in the three months were £1,818,264, £2,003,569 and £3,725,254. For the first seven months of 1940 exports were £280,628,217 as against £276,618,612 in the corresponding period in 1939 and £270,628,328 in the first seven months of 1938. Imports at £698,542,049 compare with £525,435,709 in the first seven months of 1939 and £525,435,700 in the corresponding period of 1938. Reexports at £21,191,974 were £10,600,000 less than at this date last year and £16,150,000 less than for the same period of 1938. Trade With Europe The full effect of the cessation of trade with Italy and with the invaded and inaccessible territory, was felt for the first time in July and a substantial fall in both import and export trade, with a large part of Europe was inevitable. On the other hand the United Kingdom exports to ports of North and South America has been increasing throughout the year and last month the value of such exports was the highest so far recorded. The considerable increase of imports in July compared with the same month last year was mainly in respect to raw materials and wholly or mainly manufactured goods. Imports of food, drink and tobacco decreased by £2,755,132. The decline in exports of £9,165,781 includes a fall of £441,909 in wholly or mainly manufactured goods. In the raw materials section there was a decrease of £2,769,645, coal alone declining by £1,998,574.