530
CHINA
contributed to swell the total export figures for the year. Having these considerations in mind, the study of the actual figures themselves is not without interest.
The total foreign trade of China in merchandise (i.e., treasure excluded) in 1927 was valued at Hk. Tls. 1,931,551,286. This figure represents a decrease of Hk. Tls. 56,964,738 when compared with the 1926 value of Hk. Tls. 1,988,516,024; but it is higher than the 1925 value (Hk. Tls. 1,724,217,881) by some 207 million taels. The value of net imports, i.e., gross imports less re-exports to foreign countries, was estimated at Hk. Tls. 1,012,931,624, a decrease of over 111 million taels from the 1926 figure (Hk. Tls. 1,124,221,253), but again an increase on 1925 of 65 million taels, the value of imports for that year having been Hk. Tls. 947,864.944. The aggregate value of Chinese produce exported abroad, on the other hand, has advanced from Hk. Tls. 776,352,937 in 1925 and Hk. Tls. 864,294,771 in 1926 to Hk. Tls. 918,619,662 in the year under consideration.
The 1927 results, in fact, represent an advance of 142 million taels over the 1925 figure and of 54 million taels over that for 1926. Whatever may have been the actual volume of trade, the unfavourable balance in China's foreign thade, as represented by the excess in the value of imports over that of exports, has been reduced to 94.3 million taels, form 259.9 million taels in 1926 and 171.5 million taels in 1925. But, at the risk of a tedious repetition, it must again be emphasised that, given the generally abnormal conditions prevailing in 1927, it is dangerous, not to say impossible, to gauge the volume of China's trade by the figures which have just been quote).
Imports Direct from Foreign Countries [In thousands of Haikwan taels (000 omitted).]
1925
1926
1927
Cotton goods *
Hk. Tls.
...
196,102
205,467
154,300
Wool and Cotton unions and woollen goods † Metals and minerals
""
23,317
41,342
27,770
...
...
...
...
""
43,160
52,347
50,305
Chemicals
...
...
...
""
16,473
21,039
23,483
Timber
...
...
...
...
Dyes and pigments...
Kerosene oil, liquid fuel, and lubricating oil
* Exclusive of raw cotton.
+ Exclusive of sheep's wool.
The Direction of China's Foreign Trade [In thousands of Haikwan taels (000 omitted).]
,,
22,809
21,184
20,511
""
70,805
63,149
66,663
...
12,192
16,144
13,559
Net Imports
Exports
Country
Hongkong
Macao..
1925
1926
Hk, Tls. 172,789
119,976
1927 207,984
1925
1926
1927
114,715
93,802
169,680
.....
""
8,272
3,873
6,699
4,068
2,517
3,879
French Indo-China
,,
15,576
51,504
32,218
6,940
18,434
6,003
Siam
10,508
16,545
8,527
4,799
7,341
5,238
Singapore, Straits, etc.
""
9,016
9,889
9,533
23,786
30,060
22,275
Dutch Indies........
""
36,808
31,340
25,394
10,117
9,390
10,856
British India
""
48,737
79,071
42,179
12,777
15,922
22,195
Turkey, Persia,
Egpyt, Aden, etc.
""
2,560
1,262
541
20,584
22,624 28,419
Great Britain
""
92,458
115,583
74,226
47,643
55,836
57,991
Germany.
32,146
""
45,382
38,895
16,427
17,760
20,355
Netherlands
""
10,948
10,499
8,623
10,755 17,804
26,760
Belgium
...
""
10,757
14,346
11,941
3,905 3,596
5,587
France
12,314
"1
16,791
14,498
66,077
68,146
51,437
Italy
6,039
9,092
11,632
9,903
13,266
9,494
Russia and Siberia
""
11,844
21,444
21,155
47,962
64,120
77,174
Korea
8,467
10,160
14,152
34,782
46,376
59,826
Japan (incl. Formosa) Philippine Islands
""
296,246
331,551
288,023
186,337
211,741
206,839
""
5,204
5,297
4,524
4,714
6,663
5,951
Canada
"
7,177
24,037
12,930
1,266
1,674
1,209
U.S. of America
(including Hawaii) Other Countries...
"1
138,663
185,066
164,377
143,153
150,113
121,753
**
11,336
21,513
14,881
5,643
7,110
3,699
Total............
Hk. Tls. 947,865 1,124,221 1,012,932
776,353
864,295 918,620