ENG-1953 — Page 61

Chapter 5

COMMERCE

Import and export controls, which were imposed consequent on the banning of all exports to North Korea and of strategic goods to China, remained in force throughout the whole of 1953, and together with trade restrictions imposed by other countries made the year a difficult one for commercial and industrial interests. The main developments have already been referred to in the opening chapter.

The total value of merchandise imported and exported during 1953 was $6,606 million, as compared with $6,678 milion in the preceding year. Tonnage of commercial cargoes also showed little change, being 5,021,866 tons in 1953, and 5,074,674 tons in 1952. The trend of trade by value and volume from January, 1951 to December, 1953, is illustrated in the diagrams facing pages 34 and 35.

There was a small increase in the value of imports in 1953, the total being $3,872 million, as compared with $3,779 million in 1952. Little change was recorded for most countries, the principal differences being Thailand, with imports into Hong Kong valued at $289 million, as against $204 million in 1952; Pakistan, which showed a gain in value from $90 million in 1952 to $116 million in 1953; and Germany with imports of $212 million in 1953, against $119 million in the preceding year. Large decreases were recorded for imports from India, Japan and Italy.

Tables showing the principal countries from which the Colony imported goods in 1953 (see diagram facing page 46) and the principal commodities involved with comparative figures for 1952 and 1951, are at Appendices VI and VIII.

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