Directory_and_Chronicle_1941 — Page 243

CHINA

A9

declined in value by $3.9 million, exports to Germany and the Kwantung Leased Territory falling away. Under wool, camels' and goats' wool were fairly main- tained, but the export of sheep's wool fell off in value by $4.6 million. Under the heading ores, metals and metallic products, the value of exports was $2.5 million higher than in 1938 at $109 million. Exports of wolfram ore (tung- sten) were lower in value by $5.8 million, the export also of antimony regulus declined, as did the value of exported tin ingots and slabs by $3.2 million. Iron (including steel) and manufactures thereof, not otherwise recorded, im- proved in value by $5.2 million, with the export of metals and metallic pro- ducts, not otherwise recorded, also showing an increased value of $6.2 million. Yarn, thread and plaited and knitted goods were valued at $92 million, an increase of $29 million. Exports of cotton yarn were greater in value by $8.9 million, and of yarn and thread, not otherwise recorded, by $5.3 million. While there was a decline in the case of drawn-thread work exports of $5 mil- lion, there were increase under cross-stitch work and lace and trimmings of $7 million and $8.9 million respectively, the United States of America being as usual the big purchaser. Piece goods followed next with a value of $57 million as against $24 million in 1938. Cotton shirtings and sheetings showed the major increase of $13 million, while cotton piece goods, not otherwise recorded, were higher in value by $5 million. Silk piece goods also improved, the natural variety being valued $2.4 million higher than in 1938 and the natural and artificial $4.5 million higher, with artificial piece goods at $1 million higher. The value of oils, tallow and wax exported remained at the same figure, $53 million. Under groundnut oil, there was an increase in value of $4.3 million, with a decline in the value of wood oil exports of $5.6 million, the total exports of wood oil being valued at $33.6 million as against $39.2 million for 1938. There was a considerable increase in the export of coal (including coal for ships bunkers) of $14.7 million. Under other textile products, there was a general increase in value of $16 million. Exports of tea declined by $2.7 mil- lion from $33 million to $30.3 million. Under cereals and cereal products, the increase in value of exports was $20 million, wheat flour increasing by $12.7 million, largely to the Kwantung Leased Territory, wheat by $2.1 million, and bran by $2 million, the bulk of these latter being for Japan. The export of hides, leather and skins (furs) remained satisfactory, being $4.4 million higher than for 1938. Cow hides fell off in value by $2.2 million, with the export of goat and sheep skins also declining. Kid skins improved by $1.3 million and lamb skins by $3.5 million, with weasel skins also showing an improvement in value of $3.4 million. The bulk of skins, etc., or $18 million worth, was taken by the United States of America. There was a slight increase of $1.9 million in the value of exported seeds, shelled groundnuts improving by $4.6 million and groundnuts in shell by $0.7 million. Apricot seed declined in value by $2.4 million, with an increase in sesamum seed (including pulp) of $1.3 million. Linseed fell away. Increases in value of $8.7 million under the export of me- dicinal substances and spices and of $8.8 million under chemicals and chemical products were noteworthy.

SHIPPING AND FREIGHT IN 1939

The world total of mercantile tonnage under construction at the close of 1929 was 3,110,900 tons, at the close of 1930 was 2,326,100 tons, and following the depression fell to 757,300 tons for the year 1933. Construction thereafter picked up, being 1,543,200 tons in 1935, 2,251,200 tons in 1936, 2,900,200 tons in 1937, 2,668,900 tons in 1938, and by June of 1939 had increased to 2,859,300 tons. Mercantile shipping launched for the period 1926-29 averaged 2,363,000 tons, totalled 2,889,500 tons in 1930, fell to its lowest ebb of 489,000 tons in 1933, recovered to 2,117,900 tons in 1936, 2,690,600 tons in 1937, and had risen to 3,033,600 tons for the year 1938. Actual tonnage afloat at the end of June 1939 was 69,439,700 tons, surpassing the figure of 68,074,300 tons for the year ending June 1929. These figures show that, despite increased naval construction, the carrying capacity of the world's mercantile marine had caught up with pre- depression levels before the outbreak of the European War.