1931 — Page 422

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STATISTICAL OFFICE REPORT ON THE TRADE OF HONG KONG

DURING THE YEAR 1931.

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General

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II. Quarterly Values of Imports & Exports for years 1923-1931, in £s and $s

III. Treasure Movements

IV. Import percentages, by countries

V. Total Values of Imports during years 1921-1931, by countries

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VI. Total Values of Exports during years 1921-1931, by countries VII. Total Values of Imports & Exports (including Treasure) during 1931 by countries 8

VIII. Total Values of Imports & Exports during 1931 by main groups

IX. Total Values of Imports (excluding Treasure) monthly during 1931 X. Total Values of Exports (excluding Treasure) monthly during 1931 XI. Total monthly Values of Imports under main groups

AII. Total monthly Values of Exports under main groups

XI. Imports & Exports under main groups by countries

XIV. Wholesale Price Index

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Despite the continued world-wide trade depression, and several other adverse factors more intimately affecting the commercial welfare of Hong Kong, trade returns compiled by the Statistical Office show that conditions in 1931 were, if anything, slightly better than in the year 1930, the 'total value of imports of merchandise amounting to $757.7 millions, an increase of $87.7 millions. while exports totalled $542 millions, an increase of $12 millions.

Only nine months' figures are available for the year 1930, and it is on the basis of these figures that the value of the total trade for that year has been liberally estimated.

Several factors other than the general depression in world trade combined to prevent any appreciable recovery in trade, chief among which were the following:-

(1) The continued low purchasing value of the silver currencies of Hong Kong and China; (2) internal political troubles in China:

(3) serious floods in South China during the earlier part of the year, and in North China

during the later part of the year;

(4) increased Chinese tariffs which were enforced on January 1st, and which were later strengthened by an additional impost of 10% on practically all imports for flood relief purposes;

(5) the abandonment of the gold standard by Great Britain in September, causing a

sudden rise in sterling exchange which dealers found difficult to assimilate;

(6) further depreciation of Australian currency;

(7) the Sino-Japanese dispute which resulted in a serious boycott of Japanese goods in October, and which persisted with increasing intensity until the end of the year, when there were no indications at all of any early resumption of trade with Japan.