Directory_and_Chronicle_1940 — Page 511

TSINGTAO

A135

community enjoyed greater facilities. Some relaxation of the blockade towards the end of the year relieved the position, but too late to have any substantial effect on the year's results.

The trade statistics recorded by the Customs for the value of the trade of the port were as follows: direct foreign imports, $47 million as compared with $49.8 million in 1937; coastwise importations of Chinese merchandise, $28.4 million; as against $36.3 million; direct exports to foreign countries, $31.4 million as against $58 million; and coastwise exports of Chinese produce, $36.4 million as compared with $88.5 million. Imports, of which 80 per cent came from Japan, fell off by 8 per cent only and, had some 15 million worth of merchandise imported as passengers' luggage from February to 10th, April been included in the Customs returns, would have far exceeded the figure for the preceding year. With regard to imports, however, a considerable proportion was for the recon- struction of destroyed mills and factories, and these cannot, therefore, be taken to represent a normal upward trend of trade. The import of textile machinery from Japan, for instance, reached the record value of $8.5 million, bringing the machinery and tools group into first place among imported goods with a total value of $13.5 million as compared with $6.2 million for 1937. Usually holding second place in the past, metals were during the year relegated to an insignifi- cant position with a fall in value from $5.7 million to $1.5 million, tinned iron plates imported amounting to only one-sixth of the 1937 figure, in line with the reduced trade in kerosene oil. The importation in 1937 of iron bars and angles from Great Britain and of iron ingots from the Kwantung Leased Territory, valued for 1937 at $780,000, was practically nil. Since there was no importation on Customs record of locomotives, imports under the heading of vehicles further dwindled. The trade in timber improved in value from $4.17 million to $4.54 million on account of extensive building activities, and, but for existing restric- tions, the import would certainly have been much heavier. With a value of $2.36 million paper remained at its former level. Despite lowered duty rates from February 1938, there was a sharp decline in sugar imports from 228,904 to 52,277 quintals. So large a quantity had found its way to Tsingtao during the early months of the year that the local price was by June even lower than that obtaining in Dairen. Kerosene oil decreased from 40,162,130 to 13,156,200 litres, of which one-half came from the United States of America and the remainder from both Japan and Netherlands India. While diminishing demand from the interior, due to difficulties in transportation, was responsible for this decrease, a certain portion of the regular supply was curtailed because of the appearance on the market of a cheaper grade of oil brought in during the early part of the year. Imports of gasolene were dealt a hard blow, amounting only to 899,235 litres as against 18,027,731 litres for the preceding year. Shortage of supplies and the depreciation in the exchange value of local currency were reflected in the retail price of this oil, which increased steadily from $0.95 at the beginning of the year to $1.35 per gallon at the end of the year. Among those articles which recorded a substantial increase were cotton piece-goods with a gain of $1.3 million; miscellaneous metal manufactures with a gain of $1.2 million, owing to heavy importations of electrical materials; foreign rice with a gain of 54,675 quintals, as a result of the ban on export from Shanghai in the latter half of the year; and wheat flour from abroad with a gain of 13,124 quintals, owing to exemption from .duty, Imports of leaf tobacco from the United States of America receded from 1,298,734 to 428,042 kilogrammes. Dyes and pigments showed a slight improvement over the figures for 1937, but there was considerable shrinkage in the import of chemicals from $3.2 million to $1.6 million, primarily as a result of reduced demand from the interior for fertilisers and the stagnation in local industries during the year.

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With regard to exports abroad, which fell in value from $58 million in com- parison with 1937, an all-round decrease was gazetted with the exception of cotton, salt and leaf tobacco, the export of which was not affected by the ex- change control since demand came from places within the yen currency bloc. The conspicuous decline in shipments abroad of groundnut oil, one of the port's staple exports, from 376,260 quintals valued at nearly $16 million in 1937 to 116,440 quintals only valued at $4 million, testifies to the difficulties under