E 8
45. The city of Canton, which is the Colony's chief commercial neighbour, was occupied by Japanese military forces in the final quarter of 1938, and, as a direct result, all trade routes between the Colony and the areas served by Canton were entirely disrupted, and at the close of the year there were no signs of any early re-opening of the normal trade routes by sea, rail, road or air. In each of the first three quarterly periods of 1938 the trade of the Colony with South China averaged $70.9 millions per quarter; in the final quarter of the year it fell to $32.6 millions.
46. As a further result of the extension of Japanese hostilities to South China there was a marked falling off in the number of entrances and clearances of junks and river boats. In 1938 7,919 junks entered and cleared as compared with 12,062 in 1937, and 7,443 river vessels as compared with 8,852 in 1937.
47. Prior to the Japanese blockade of South China ports the China tea trade was transferred to the Colony with the result that the trade figures of the Colony were abnormally swollen. Total imports and exports of tea in 1938 amounted to $33.0 millions as compared with $7.5 millions in 1937.
48. In order to estimate with greater accuracy the increase or decrease in the actual volume of the trade of the Colony than is possible by a statement of value only, an index figure was constructed taking the year 1931 as a base. For the purposes of this index number some 185 articles were selected, including the commonest which could be enumerated by quantity. The comparison is given below:-
By Quantity By Value 1931 100 100 1932 92.3 84.6 1933 89.1 67.9 1934 74.8 56.4 1935 78.1 57.0 1936 84.2 61.3 1937 119.7 83.6 1938 101.5 83.86th May, 1939.
E. W. HAMILTON,
Superintendent, Imports & Exports.
{
E 8
45. The city of Canton, which is the Colony's chief commercial neighbour, was occupied by Japanese military forces in the final quarter of 1938, and, as a direct result, all trade routes between the Colony and the areas served by Canton were entirely disrupted, and at the close of the year there were no signs of any early re-opening of the normal trade routes by sea, rail, road or air. In each of the first three quarterly periods of 1938 the trade of the Colony with South China. averaged $70.9 millions per quarter; in the final quarter of the year it fell to $32.6 millions.
46. As a further result of the extension of Japanese hostilities to South China there was a marked falling off in the number of entrances and clearances of junks and river boats. In 1938 7,919 junks entered and cleared as compared with 12,062 in 1937, and 7,443 river vessels as compared with 8,852 in 1937.
47. Prior to the Japanese blockade of South China ports the China tea trade was transferred to the Colony with the result that the trade figures of the Colony were abnormally swollen. Total imports and exports of tea in 1938 amounted to $33.0 millions as compared with $7.5 millions in 1937
1937)
48. In order to estimate with greater accuracy the increase or decrease in the actual volume of the trade of the Colony than is possible by a statement of value only, an index figure was constructed taking the year 1931 as a base. For the purposes of this index number some 185 articles were selected, including the com- monest which could be enumerated by quantity. The comparison is
is given below:-
1931-100.
By Quantity. By Value.
1932
92.3
84.6
1933
89.1
67.9
1934
74.8
56.4
1935
78.1
57.0
1936
84.2
61.3
1937
119.7
83.6
1938
101.5
83.8
6th May, 1939.
E. W. HAMILTON,
Superintendent, Imports & Exports.
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