F 411.
British Finance and Commerce.
By Robert Hackay.
29
Export Trade.
Great Britain's export trade keeps pace with the industrial
expansion which is the main feature of British economy this year.
The value of British exports in July was 7.7 per cent higher then
in July, 1938. For the first seven months of this year British
exports were £276,619,000, compared with 3270,628,000 in the
corresponding period of last year, and the visible adverse balance
of trade is £18,000,000 lower than it was a year ago. There has
been a substantial increase in British exports to the United
States, Russia and Scandinavia, and smaller increases to many
other countries.
The volume of exports has also been considerable, as is shown
in the rise in British export cargoes to all destinations. Tonnage
of ships leaving United Kingdom ports with cargo during the quarter
ended on the 30th of June was the highest for any June quarter
since 1930, and showed an increase of 8 per cent compared with a
year ago. Apart from importent contracts which British firms have
obtained in foreign markets, thus contributing to the larger
volume of export cargoes, there have been increased shipments of
coal to countries abroad. Iron and steel exports have also been
greater, as is instanced by shipments of finished iron and steel
from the port of Middlesbrough. These totalled 42,186 tons in
July, the highest total for any month this year. Among the chief
foreign purchasers of British steel were South Africa, Egypt,
India, Holland. Belgium and the Argentine.