Directory_and_Chronicle_1941 — Page 368

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TSINGTAO

almost double that for the preceding year. These satisfactory results were attributable to the revival of the spinning industry, the cessation of smuggling, the export boom enjoyed by native products, and the strong demand for all kinds of merchandise on account of the desire for investment in the latter in preference to holding paper currency, especially after the outbreak in Septem- ber of hostilities in Europe. Since Japan, whence came more than 70 per cent of the imported goods of this port, restricted her exports as from September 1939, it is considered unlikely that trade-or, at least, foreign imports-for the coming year can possibly maintain its upward trend.

The trade statistics recorded by the Customs for the value of the trade of the port were as follows: direct foreign imports, $121 million as compared with $47 million in 1938; coastwise importations of Chinese merchandise, $55.8 million as against $28.4 million; direct exports to foreign countries, $56 mil- lion as against $31.4 million; and coastwise exports of Chinese products, $76.5 million as compared with $36.4 million. Among imported articles, sugar ranked first with a total quantity of 545,723 quintals, chiefly from Formosa, to the value of $14.9 million, registering a fourteenfold increase in value as com- pared with the previous year, mainly owing to the absence of smuggling. Im- ports of textile machinery and parts fell short of the record figure for 1938 by $2.2 million on account of smaller demand and a large local supply of spindles, but the total value of machinery and tools, amounting to $13.8 million, well maintained its position. The year saw a threefold increase over the previous year in the import of paper, amounting in value to $6.4 million, of which $2.7 million came under the heading of common printing newspaper and $789,000 under cigarette paper, good demand for purposes of actual consumption as well as hoarding being responsible for the brisk business. The extensive build- ing activities continued, with the result that importations of timber rose in value from $4.5 million to $7.1 million. Both Japan and the United States of America were equally interested in this trade. Compared with 1938, more than a threefold increase was witnessed in chemicals as a result of the revival of industrial enterprises. With the exception of sulphate of ammonia, the supply of which came from Germany, Belgium, Great Britain, Japan, and Switzerland, the bulk of chemicals, especially medicines, came almost entirely from Japan. Fishery and sea products also registered remarkable improvement and rose from $1 million to $4.5 million during the year, importation of long seaweed alone amounting in value to $1.6 million. As a result of the link exchange, control, imports of wheat flour jumped from 14,880 to 169,262 quintals, of which 60 per cent came from Japan, 30 per cent from the United States of America, and the rest from Korea. Rice imports amounted to 169,559 quintals, showing an increase of 180 per cent over 1938 on account of the increase in the Japanese population. Of the total quantity imported, 106,118 quintals came from Korea, and it was only when Korea herself was faced with a shortage of rice at the end of the year that supplies had to be obtained from Siam and Wuhu. Since the hinterland, where most of the imports of kerosene oil are in demand, re- mained almost inaccessible to trade owing to unsettled conditions, business in kerosene oil made no headway and reached only half of the figure for 1937; only because of the non-existence of smuggling did the quantity imported advance from the preceding year's 13,156,200 litres to 24,492,463 litres, of which 9,654,130 litres came from Japan, 9,120,924 litres from the United States of America, and 4,782,439 litres from Netherlands India. Importations of gaso- lene, however, jumped from 899,235 to 6,154,875 litres. It is worthy of notice. that, despite the high retail price, which steadily rose from $1.35 to $2.60 per gallon during the year, such a large volume was imported; Netherlands India led in the trade with almost 4 million litres to her credit, followed by the United States of America with 1.2 million litres and Japan with less than 1 million litres. The demand for crude, old, or waste india-rubber and crude. gutta-percha advanced from 11,088 to 60,343 quintals valued at $2.8 million, showing a fivefold advance over the 1938 figure. Total imports of leaf tobacco were 654,909 kilogrammes as compared with 435,312 kilogrammes in 1938. As a departure from former years, the lead in supplying this article was taken by an entirely new source of supply, Korea, whence came 376.510 kilogrammes out