The Next Ten Years in British Social and Economic Policy

By G. D. H. Cole | Go to book overview

APPENDIX I
BRITISH TRADE

The following figures are intended to illustrate the arguments set out in Chapter II. concerning the future course of British overseas trade.

I. GENERAL COURSE OF BRITISH OVERSEAS TRADE,
1910-1913 AND 1924-1928, OMITTING 1926
£ Millions
1910. 1911. 1912. 1913. 1924. 1925. 1927. 1928. Increase
per cent
1928 over
1913.










Total Imports 678.3 680.2 744.6 768.7 1277.4 1320.7 1218.3 1196.9 56
Re-Exports 103.8 102.8 111.7 109.6 139.9 154.0 123.0 120.4 11
Net Imports 574.5 577.4 632.9 659.2 1137.5 1166.7 1095.3 1076.5 65
British Exports 430.4 454.1 487.2 525.3 800.9 773.4 709.1 723.4 38
Visible Adverse
  Balance
144.1 123.3 145.7 133.9 336.6 393.3 386.2 353.1 164
Note—During 1928 Great Britain imported £58,000,000 of bullion and
   specie, and exported £51,700,000. If this is included, the adverse balance
   becomes £359,400,000. For 1927 the corresponding figure is £389,700,000.

Observe (a) the sharp rise in net imports in relation to exports of British goods; (b) the fall in the real value of re-exports; (c) the fall in the real value of British exports; and (d) the immense rise in the visible adverse balance of trade.

II. BRITISH OVERSEAS TRADE IN 1928 RE-VALUED AT 1924 PRICES
Declared
Value in
1928.
1928 Re-
valued at
1924 Prices.
Declared
Value in
1924.
Average
Prices, 19281
( 1924=100).
Average
Prices, 19131
( 1924=100).






Total imports 1197 1351 1277 88.6 64.5
British exports 723 838 801 86.3 52.9
Re-exports 120 123 140 97.7 75.8
1 The general index of wholesale prices on the same basis works out as
follows: 1924, 100; 1928, 84.4; 1913, 60.2 (Board of Trade index).

-437-

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