DIRECTION OF TRADE.
Glancing at the entire results of our foreign trade for the first half of the present year, it is satisfactory to note that commerce within the Empire has been well maintained, its proportion to trade as a whole having slightly increased. For the first half of last year, the proportion of Imports from our Oversea Dominions was about 30i per cent. of the total trade, but this year it is over 31 per cent., while, as regards Exports, the proportion in value sent to the Empire was 4.3 per cent. for the first six months of this year as compared with just over 41 per cent. for the corresponding period of last year. Germany is now beginning to export here pretty heavily, and our imports from that country increased by about £10,000,000, although our exports to Germany were rather less than a year ago. The United States continues to increase its position as a creditor country so far as we arc concerned, our imports from there for the six months amounting in value to £128,000,000, as against £112,000,000 for the first half of last year, while our exports to America increased by less than £3,000,000. It is clear that our exports of manufactured articles suffered materially during the six months by the disturbed conditions in the East and Far East.
A. W. K.