EXPORT TRADE.
At the moment it is not possible to produce statistics to show
to what extent actual production in this country has been affected as
compared with the decline in employment, but there are certain
factors which can be taken into account in this connection which
may help to show that production has definitely declined and
thereby confirm the unemployment figures and discount any
suggestions to the effect that increased: unemployment is due to
rationalisation or scientific production.
The most obvious factor to take into account in this way is
the importation and exportation of machinery. In 1913, this
country exported on an average 57,449 tons of machinery per
month, valued at about £2,800,000. The nearest approach which
the industry has made to the pre-war level in post-war years was
in 1928 when on a monthly average it exported machinery to the
extent of 47,163 tons valued at about £4,500,000. The monthly
average exportation of machinery in the first ten months of 1930
is about 41,000 tons valued at approximately £4.000.000.
On the other hand, retained imports of machinery in 1913
averaged 6,897 tons per month at a value of £500,000. Since
1927 this volume of machinery imports has increased, and the
average monthly importation of machinery during 1930 is in the
neighbourhood of 8.500 tons valued at about £1,400,000.
It is significant that in 1913 the average value per ton of
machinery exports was £487 whereas in 1930 for the first ten
months it is £975.
The value of retained machinery imports in 1913 was £72 per
ton and for the first ten months of 1930 about £163-5 per ton.
It will thus be seen that in ratio the value of imported machinery
has increased more than the value of British machinery exported.
Particulars of machinery imports and exports over a period
of vears are given in Appendix “ B”.
A comparison of international exports of machinery reveals
the fact that this country is losing ground in many directions and
that our competitors are making headway. For example, before
the war this country supplied, in terms of value, 56-7 per cent.
a