CHINA
49
certainly was caused also by higher prices, especially in the case of exports, and by the fall in silver exchange, which enhanced the value of imports when converted into Haikwan taels. The value of net imports, ie., gross imports less re-exports of foreign produce to foreign countries, was estimated at Hk. Tls. 1,124,221,253, an increase of Hk. Tls. 176,356,309 when compared with the 1925 results, while the aggregate value of Chinese produce exported abroad advanced by Hk. Tls. 87,941,834 over the 1925 figure, the total value for 1926 being Hk. Tls. 864,294,771. These figures show that the balance in China's foreign trade is still on the wrong side, the value of net imports exceeding that of exports by 259.9 million taels, which can be compared with the unfavourable balances of 171.5 million taels in 1925 and 246.4 million taels in 1924. How far this difference, so unfavourable to China, was due to excess of imports over exports and how much of it was the result of excliange fluctuations and higher values it is almost impossible to define, but one must conclude that the Chinese people are dependent on foreign countries for a very great quantity of goods which they cannot produce themselves as yet, while their own products meet with a very strong competition by similar products from other countries on foreign markets.
Imports Direct from Foreign Countries
[In thousands of Haikwan taels (000 omitted).]
1924 Hk. Tls.
1925 Hk. Tls.
1926 Hk, Tls.
Cotton goods*..
...
...
192,399
196,102
205,467
Wool and Cotton unions and woollen goods +
28,979
23,317
41,342
Metals and minerals
...
...
...
...
70,055
43,160
52,347
Chemicals
...
...
...
15,406
16,473
21,039
Dyes and pigments...
...
...
...
...
38,377
22,809
21,184
...
Kerosene oil, liquid fuel, and lubricating oil ....... Timber
...
63,478
70,805
63,149
...
...
18,966
12,192
16,144
* Exclusive of raw cotton.
+ Exclusive of sheep's wool.
The Direction of China's Foreign Trade [In thousands of Haikwan taels (000 omitted).]
Net Imports
Exports
Country
1924 Hk. Tls.
1925 Hk. Tls.
1926 Hk. Tls.
1924 Hk. Tls.
1925 Hk. Tls.
1926 Hk. Tls.
Hongkong
....
238,355
172,789
119,976
173,163
114,715
93,802
Macao
7,689
8,272
3,873
5,087
4,068
2,517
French Indo-China
10,083 15,576
51,504
3,675
6,940
18,434
Siam
2,326
10,508
16,545
3,273
4,799
7,341
Singapore, Straits, etc.
8,916
9,016
9,889
19,617
23,786
30,060
Dutch Indies
20,496
36,808
31,340
9,317
10,117
9,390
British India
38,739
48,737
79,071
11,436
12,777
15,922
Turkey, Persia,
Egpyt,
Aden, etc.....
772
2,560
1,262
18,556
20,584
22,624
Great Britain
125,292
92,458
115,583 50,251
47,643
55,836
Germany
38,539 32,146
45,382
15,949
16,427
17,760
Netherlands
20,440 10,948
10,499
13,501
10,755
17,804
Belgium
18,267
10,757
14,346
3,420
3,905
3,596
France
10,424
12,314
16,791
45,096
66,077
68,146
Italy
6,236
6,039
9,092
8,948
9,903
13,266
Russia and Siberia
8,612
11,844
21,444
46,359
47,962
64,120
Korea
9,443
8,467
10,160
30,855
34,782
46,376
Philippine Islands
Hawaii)
Japan (incl. Formosa)
Canada.
U.S. of America (including
Other Countries.......
229,791
296,246
331,551
201,176
186,337
211,741
· ....
3,124 15,552
5,204
5,297
4,284
4,714
6,663
7,177
24,037
1,107
1,266
1,674
186,387 138,663
185,066
100,755
143,153
150,113
18,728
11,336
21,513
5,959
5,643
7,110
:
Total
1,018,211
917,865 1,124,221
771,784
776,353
-864,295