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2.—Trade.
10. As pointed out in previous reports, the figures which used to appear under this heading were, as a whole, so inaccurate as to be, in some cases, most misleading. They have therefore been omitted from this, as from my three previous annual reports. However, in certain items of the import trade, fairly accurate details are available, and, as to these, the following remarks may be of interest.
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Coal.—1,115,120 tons were imported during the year. This quantity, compared with the imports for 1909, shows a decrease of 11,716 tons, or 1.04%. This decrease is so small as to be negligible, but is explained by the dull tone of the market in the Colony throughout the year 1910, and the necessity of adjusting stocks after the somewhat largely increased imports of 1909. Of the various varieties of coal imported, Japanese heads the list. Next comes that from North China and Manchuria, which holds its own, if not actually increasing. Cardiff, though only used by Men-of-War, and imported almost solely by the Admiralty, comes third. There have been increased shipments from Hongay; but from Australia and India large decreases appear; while no Labuan coal was imported during the year.
I remarked last year upon the fact that, in spite of the large increase in coal imported, the shipments of bunker coal in the Colony had fallen off considerably. This year, the opposite occurred. There is a falling off in imports, but an increase of 22,140 tons, or 35% in the quantity of bunker coal shipped. But, of the total amount of coal imported, little more than half is shipped as bunker coal, the remainder being re-exported.
Kerosene Oil. Here, enormous increases are reported in Bulk Oil of 20,559 tons or 57.7%, and in Case Oil of 13,989 tons or 38.6%, while Liquid Fuel has increased by 5,089 tons, or 117.2%. These increases appear to be due to competition between the Asiatic Petroleum Co. and the Standard Oil Co., whose businesses are largely increasing in the interior of China in consequence of their activity in opening up new distributing centres.
As last year, I add a few remarks about certain other items of import of which I have been able to collect information.
Cotton and Cotton Yarn.—Here is shown, again, a large increase, of 10,114 tons, or 15.7%, added to the increase reported last year. This seems to be borne out by facts, though the increase was in yarn entirely, hardly any cotton having been imported (owing to the high prices ruling in India, and the Chinese product being exceptionally cheap and of good quality this year). The yarn market, though considerable fluctuations in price occurred during the year, was strong. The demand being great and prices generally favourable, large imports were made.