Directory_and_Chronicle_1940 — Page 381

CHINA

A5

increase, Chinese exports as percentage of imports having grown from 45.50 per cent in 1933 to 87.93 per cent in 1937. In considering the figures for the year under review, the incidence of hostilities must naturally be taken into considera- tion. As previously, the adverse balance for the year 1938 of $123 million may rightly be reduced by $16.5 million of export duty, which should be added to the outward statistics to obtain the true f.o.b. value of the export trade.

DIRECTION OF TRADE

The following table shows the direction of China's foreign trade for 1937 and 1938 and her balance of trade in merchandise with each of the countries listed for the year under review:

THE DIRECTION OF CHINA'S FOREIGN TRADE

In thousands of standard dollars (000 omitted)

GROSS IMPORTS.

GROSS EXPORTS.

1938.

COUNTRY.

1937.

1938.

1937.

1938.

Excess of

St: $ per cent.

Australia

16,337

Belgium

1.71 28,333 2.96

St. per cent.

28,065

St. #

per cent.

St. $ per cent.

Imports. Exports.

British India

12,467 1.30

16,214

3.14 18,126 2.03 5,794 1.81

5,401

0.64

3,897 0.51

24,168

Burma

8,220 0.86

12,801

1.43

0.69 11,791 1.41

4,503

0.54

2,547 0.33

15,579

19,720

2.58

3,506

4,661

0.61

Canada

8,140

17,093

Denmark

1.79 687 0.07

7,872

0.88

7,091 0.85

3,675 0.48

4,197

270

0.03

2,584 0.31

Egypt (Including

1,640

0.22

1,370

Anglo Egyptain Sudan)

Formosa

France

5,444 0.57 3,584 0.38 15,106 1.58

2,520

0.28

2,654

0.32

2,852

0,37

332

2,277 0.26

2,845

0.34

177

0.02 2,100

18,304 2.05

32,643 3.89

French Indo-China

20,402

2.67

2,098

29,991

3.14

Germany

27,351 3.06

12,827 1,53

15,816

2.07 11,535

146,374

15.31

Great Britain

112,939 12.64

72,477

8.64

56,440

111,695

7.39 56,499

11.68

Hongkong

70,606 7.90

80,380

9.58

56,769

7.43

13,837

19,078 2.00

24,589 2.75

162,904

19.42

Italy

243,395

31.87

218,806

9,906

1.04

17,465

1.96

6,840

0.82

Japan

150,432

15.73

209,864

23.49

84,306

10.05

Korea

2,346

0.25

5,577

0.62

Luxemburg

7,712 0.92

4,605

1,267 0.17 16,198 116,547

15:26 6,873 0.90

93,317

1,296

0.48

332

0.04

332

Macao

904

0.09

1,504

0.17

Morocco

5,127

0.61

9,624

1.26

8,120

3

2

8,327 0.99

Netherlands

7,550

0.99

7,548

6,053

0.63

4,640

0,52

14,261 1.70

Netherlands India.

8,170

1.07

3,530

80,718

8,44

45,744 5.12

6,228 0.74

Norway

6,664

0.87 39,080

6,292 0.55

Philippine Islands.. Siam

3,570 0.40

1,220 0.15

411

0.05

3,883 0.41

3,159

3,521 0.39

6,945 0.83

6,703

0.88

3,182

15,833 1.66

24,939

2.79

Straits Settlements

4,111 0.49

6,019

0.79 18,920

and F.M.S.

10,362 1.08

Sweden

6,722 0.70

Switzerland..

9,744 1.02

U.S. of American

188,859 704 45,459

19.75 0.07 4.75

956,234 100.00

7,313 0.82 19,213 2.29 3,947 0.44 8,929 1.00 151,254 16,93 5,491 0.61 57,474 6.44

893,500 100.00

17,546

2.30

10,233

2,650

0.32

588

0.08

3,359

227 231,449 27.59

0.03

148

0.02

8,781

86,863

11.37

64,401

4,915

0.58 31,345 3.73

838,770 100,00

613 56,164

0.08

4,878

7.36

1,310

763,731 100.00

129,769

U.S.S.R. (Russia)

Other Countries

Total

Individually, the order of importance of the major countries for the year 1938 is found to be Japan, the United States of America, Germany and Great Britain, with respective totals for their imports and exports of $326 million, $238 million, $169 million and $127 million, representing an increase in the case of Japan of $91 million and decreases in the case of the United States of America of $182 million, in the case of Germany of $50 million and in the case of Great Britain of $55 million. In percentages the order in the case of imports is Japan, 23.49 per cent; the United States of America, 16.93 per cent; Germany, 12.64 per cent; and Great Britain, 7.90 per cent; and in the case of exports in Japan, 15.26 per cent; the United States of America, 11.37 per cent; Great Britain, 7.43 per cent; and Germany, 7.39 per cent. The percentage of the import trade attributed to Hongkong was 2.75 per cent and of the export trade 31.87 per cent, it being well-known, as hitherto pointed out, that Hongkong serves primarily as an entrepot for Chinese trade. The increase in Hongkong's percentage of the export trade from 19.42 per cent during 1937 to 31.87 per cent during 1938 is due to the diversion of Chinese exports via Canton and Hong- kong, direct shipment abroad from Shanghai and other ports being impeded by the hostilities and the Japanese blockade of the Yangtze River and China Coast.