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3. In terms of local currency imports of merchandise in 1937 increased by 36.4% as compared with 1936, and 69.1% as compared with 1935; whilst exports increased by 33.2% in 1937 as compared with 1936, and 72.4% as compared with 1935.
4. In terms of sterling values imports of merchandise increased by 33.7% in 1937 as compared with 1936, and 7.9% as compared with 1935; whilst exports increased by 30.3% in 1937 as compared with 1936, and 10.3% as compared with 1935. (It should be noted that the average T.T. rate of exchange on London was 1s. 2.1d. in 1937; 1s. 3.d. in 1936; and 1s. 11.d. in 1935).
5. It is estimated that the quantum of the import trade increased by 42.2% in 1937 as compared with 1936, and 53.3% as compared with 1935, 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.
6. The following countries increased their shares of the import trade in 1937 as compared with 1936: China, United Kingdom, U.S.A., French Indo-China, Australia, and Belgium; whilst increased shares of the export trade were credited to British Malaya, French Indo-China, U.S.A., and Netherlands East Indies. (Details are given in Table II).
7. It will be seen from Table III that there were increased imports in 1937 of the following groups of commodities as compared with 1936: - Live animals, building materials, chemicals and drugs, Chinese medicines, dyeing and tanning materials, foodstuffs and provisions, fuels, hardware, liquors, manures, metals, minerals and ores, nuts and seeds, oils and fats, paints, paper and paperware, piece goods and textiles, railway materials, tobacco, wearing apparel and sundries, the only groups showing a decrease being machinery and vehicles. There were increases in all groups of exports with the exception of live animals, machinery, railway materials, and vehicles.
8. Total movements of Treasure amounted to $781.6 millions in 1937 as compared with $216.5 millions in 1936. Imports totalled $386.4 millions in 1937 as compared with $72.7 millions in 1936, and exports $395.2 millions as compared with $143.8 millions. (Details are given in Table IV).
9. Average T.T. opening rates of exchange during the year 1937 were: - London: 1/2.; France: 765.7/8; U.S.A.: 30.1/2; Shanghai: 102.7/16; India: 81.11/16; Singapore: 52.9/6; Japan: 105.13/16; Java: 55.3/16.
10. Wholesale prices in the Colony showed an increase of 27.2% in 1937 as compared with 1936 and an increase of 68.3% as compared with 1935. Increases were recorded in each of the four groups of commodities, viz., Foodstuffs, Textiles, Metals and Minerals, and Miscellaneous Articles.