...
"
CHINA
The Direction of China's Foreign Trade
529
The following was the net value of commodities imported direct from and exported direct to foreign countries in 1926. These figures do not include the trade carried on with neighbouring countries in Chinese junks, which does not come within the control of the Foreign Customs, but include Hk. Tls. 21,098,866 re-exports to foreign countries:-
Japan (including Formosa) Hongkong
U.S. of America (including Hawaii) Great Britain
Russia, Pacific Ports
Imports .Hk. Tls. 293,793,760 293,793,760
Exports 208,838,810
Totals 502,632,570
""
212,592,777
169,679,878
382,272,655
166,973,690 121,752,658
288,546,348
""
75,072,394
57,991,169
133,063,563
17,787,140 73,320,839
91,107,979
Korea
"
15,746,777
59,826,279
75,573,056
France.
"}
14,700,093
51,437,396
66,137,489
British India....
""
42,392,614
22,194,819
64,587,433
Germany......
Dutch Indies
""
39,354,364
20,354,535
59,708,899
French Indo-China...
32,510,245
6,002,934
38,513,179
27,021,368
10,856,087
37,877,455
Netherlands
""
9,003,330
26,759,678
35,763,008
Singapore, Straits, etc.
10,266,488
""
22,274,577
32,541,065
Turkey, Persia, Egypt, Aden, etc.
548,787
28,419,466
28,968,253
Italy
11,723,651
9,494,292
21,217,943
Belgium
"
11,993,637
5,586,989
17,580,626
Canada
12,942,554
1,208,533
""
14,151,087
Siam
""
8,608,191
5,238,208
13,846,399
Philippine Islands
.....
4,685,209
""
5,950,973
10,636,182
Macao
6,710,361
3,589,182
10,589,182
Russia and Siberia by Land Frontier... Norway
4,674,337
786,405
5,460,742
"
""
4,736,943
87,566
4,824,509
Sweden
2,866,691
574,935
"2
3,441,626
Russia, European Ports
36,192
3,066,792
3,102,984
Mexico & Cent. America (incl. Panama)
39
2,488,693
30,037
2,518,730
Australia, New Zealand, etc......
1,422,160
""
503,333
1,925,493
Switzerland
....
1,695,288
77,102
1,772,390
Luxemburg
"J
1,012,879
1,012,879
Denmark
177,517
725,279
902,796
Spain (including Gibraltar)
2,108
853,912
856,020
""
South America
158,424
464,701
623,125
""
South Africa (including Mauritius)
98,059
241,438
339,497
""
Austria and Hungary
84,185
73,804
157,989
Russia, Amur Ports....
109,672
231
109,903.
""
Finland
68,461
25,730
94,191
""
Danzig..
44,411
39,355
83,766
Portugal
Poland
52,236
326
52,562
49,291
267
49,558
Greece
87
990
1,077
""
Total......
.Hk. Tls. 1,034,030,490
Less re-exports as above...
"1
21,098,866
Total Net Imports... Hk. Tls. 1,012,931,624 918,619,662 1,931,551,286
In discussing the value of China's foreign trade during 1927 it is more than ever necessary to take into consideration the various factors which concurred in enhancing the values of imports as well as of exports. Otherwise the mere figures, taken independently, give surprising results. With regard to imports, it should be re- membered that the drop in silver exchange was the cause of much higher Haikwan tael values being recorded in the Customs statistics, while heavier costs of production in the exporting countries had no small share in increasing the gold values of these same goods. So far as exchange rates are concerned, it will be well to remember that the average sterling rate for Haikwan taels was 3s. 5d. in 1925, 3s. 1 d. in 1926, and 2s. 91d. in 1927. On the other hand, Chinese produce, by the time it had reached the sea- board for export, had been obliged to contend with labour exactions, additional taxes, and difficulties of transportation, resulting in higher values, which naturally have
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