17
Shipbuilding—During the year the Colony's shipyards had under construction three passenger ships, two cargo ships, one police patrol cruiser, one Admiralty tug, one hopper dredger, one cruising yacht, one dumb barge and seven launches, a total of seventeen vessels of 3,900 tons gross.
Chapter VII.
COMMERCE.
The collection and compilation of Trade statistics resumed in 1930 and for the first time since comparative figures have been available the visible trade of the Colony in 1936 showed signs of improvement, particularly in the final quarter of the year when substantial increases were recorded both of imports and exports, as compared with the corresponding period of the preceding year.
2. The combined values of imports and exports of merchandise in 1936 increased by 26.3% as compared with 1935, and 8.4% as compared with 1934, in terms of local currency. (Details are given in Table I).
3. Imports of merchandise totalled $452.4 (£28.5) millions in 1936 as compared with $365.0 (£35.3) millions in 1935, and $415.9 (£31.7) millions in 1934; whilst exports totalled $350.9 (£22.1) millions in 1936, as compared with $271.0 (£26.1) millions in 1935, and $325.1 (£24.8) millions in 1934.
4. In terms of local currency imports of merchandise in 1936 increased by 23.9%, as compared with 1935, and 8.8% as compared with 1934; whilst exports increased by 29.5% in 1936 as compared with 1935, and 7.9% as compared with 1934.
5. In terms of sterling values imports of merchandise decreased by 19.3% in 1936 as compared with 1935, and 10.1% as compared with 1934; whilst exports decreased by 15.3% in 1936 as compared with 1935, and 10.9% as compared with 1934. (It should be noted that the average T.T. rate of exchange on London was 1s. 3.3/16d. in 1936, 1s. 11.5/16d. in 1935, and 1s. 6.8/16d. in 1934).
6. It is estimated that the quantum of the import trade increased by 7.8% in 1936 as compared with 1935, and 12.6% as compared with 1934, but, of necessity, the volume of the import trade cannot be calculated accurately on account of the lack of a suitable unit of quantity and the fact that many commodities imported are declared by value only.