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Table 35.-Trade of the United States with Latin America, by Commercial

Regions and Countries
[Values in millions and tenths of millions of dollars, i. e., 00,000 omitted)

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1. 7

Latin America, total ... 302.2 802.5 558.3 695.0 771.2 486.5 712.8 814.7 1,050. 6 1,058. 6 Seruthern North America....-181.2 529.1 332. 2 426.7 458.2 228.6 417.2 455. 9 583. 2

693.1 Mexico..........

53. 1 221. 9 | 109. 9 120.2 135. 1 70.5 119.3 132.1 140. 1 167.1 Central America, total.

37.6 55. 1 | 44.8 56.2 64.8 17.4 33. 5 31.1 37.3 37.8 British Honduras. 1.5 1.9 1.8 1.8 1.8 1. 4 2. 7 2. 2 2. 2 2. 2 Costa Rica 3.4 4.1 4.0 4.8 6.0 3. 8 5.8 5.5

4.6 4.7 Guatemala.. 2.8 6. 1 5. 5 6. 3 8.8 2.8 8.6 8.8

11.3

10.1 Honduras.

2.8 11. 7

10.0 11.3

1

9. 1 2.8 4. 9 5. 2 4.9 6.0 Nicaragua.

2. 4 3.6 4. 1 5.0 6. 3 1.4 4.7 3. 2 5.4 5. 5 Panama.

22.5 23.1 14.5 21.8 26.4 3.8 3.9 3.6 4. 3 5.0 Salvador

2.1 4. 5 4. 9 5. 2 6.5 1. 3 2.9 2.6 4.5 3.9 West Indies and Ber. mada, total..

90.5 252.2 177.5 249.3 256. 3 140.8 264. 5 292.7 405.7 388.8 Bermuda 1.4 4. 2 3.3 4.0 3.5 .6 1.2 1.0 1.1

1. 2 Jamaica 25.0 9.4 8. 2

8.8

7.3 16.1 6.1 7.3 6.6 6.2 Trinidad and Tobago. :3.3 8.6 4.9 4.4 3.8

? 5. 5

5.5 4.5 5. 2 4.9 Other British

14.4
6.6 7.5 7.4 6.8 11.7 2.4

2.4

2.3 3.1 Cuba..

63.0 187.7 127.9 192.4 199.8 122. 1 230.4 267.8 376.4 361. 7 Dominican Republic. 4. 4 19.3 10. 2 13.4 15.6 3.6 14.4 4.8 8.4 5.8 Dutch West Indies. .9 2.6 2. 2 2. 7 3. 7

5 1.7 2.8 3.6 4.1 French West Indies.. 1.6 2.9 2.6 2.5

2.5

.1 .1 .1 ..1 ..2 Haiti...

5.9
8. 2
9. 1 12.0 11.6 .8 2.1 1. 2

1. 2
Virgin Islands of
United States..

.9 2.6 1.6 1.6 1.7 .2 .7 .7 Seath America, total... 121. 0 273.3 226.1 269.3 315. 1 206.9 295. 6 358.8 467.4 466.6 Caribbean, total. 13. 1 32.8 31.9 37.1 48.9 22.5 56.6 51. 3 60.6

75.9 Colombia

5.8 17.7 20. 1 22. 3 28.7 11. 9 44.0 36. 1 45.7 57.7 Guiana: British. 1.8 3.3 1.9 1. 7 1.6 .5

4 .3 .8

9 Dutch. 1.2 .8 .8 .8 .9 8

7

8 .6 French.

.3
1.0

.2 (1)
1 .3

2

.2 Venezuela.

4.5 9.5 8.7 11.9 17.6 9. 1 11.3 13.9 13. 1 16. 5 Rest coast, total.

84. 7 183. 1 150. 6 174, 0 201. 3 148.3 169.9 223.6 282. 1 262.2 Argentina.

47. 2 110.8 95.5 112.8 117.0 32.9 59.9 85. 7 115. 3 75. 3 31. 5 58. 1

43. 2 45. 6 65. 2 110.9 96. 3 120.4 143. 2 179.3 Paraguay

.1
4
.6 .8 (1) 1. 2 1.1

.5 .1 Uruguay.

5.9 13.8 11. 4 15. 1 18. 2 4.5 12.5 16.5 21.8 7.1 Test coast, total.

23. 2 57.5 43. 5
58. 2 84.9 36.0

69. 1 83.8

124, 7

128.4 Bolivia .9 3.4 2.6 3.0 4.1

2.2 .7 2.4 Chile.

13.9 26.5 22.5 31.1 31. 4 22.9 46.9 59. 7 91.8 98.7 Ecuador.

2.4 3.5 4.4 4.3 5. 5 3.4 5. 3 7.5 6.1 6.7 Peru. 6.0 24. 0 14.0 19.8 23.8 9.8

14. 7 15.9 24. 4 22.9 Porto Rico..

33. 2 61.0 58. O 76.9 78. 4 36.9 72.0 60. 1 80.3 77.3

Brazil.

Does not include shipments to or from Porto Rico.
Four year average, 1911-1915.
Less than $50,000.

There were marked declines in imports from the River Plate region, not due to small production there, but to better demand and higher prices for its products in the reviving ‘markets of Europe. In fact our increased sales in Latin America as a whole were made possible in large part by the higher prices paid by Europe for Latin American products. Our exports to Argentina increased 4 per cent, to Paraguay 40 per cent and to Uruguay 21 per cent. Other outstanding increases were to Brazil, Colombia, Venezuela, and Mexico. Lower sugar prices account for the slight decline in our imports from Cuba.

The balance of trade with Latin America is normally much against the United States. The ratio of excess of imports in 1924–37.4 per cent-was, however, decidedly lower than in the two preceding years or than before the war. The balance against us is largely due to the fact that, with its high standard of living, the United States is the world's largest consumer of tropical foodstuffs such as sugar, coffee, cocoa, fruits, and nuts.

Table 36.--Percentage Distribution and Per Cent Change in the Foreign Trade

with Latin America by Commercial Regions and Principal Countries

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Chart XV.-TRADE OF THE UNITED STATES WITH LATIN AMERICA RELATIVE

TO PRE-WAR AVERAGE

(This cbart does not show absolute values but relatives. For absolute figures see Chart X)

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MEXICO

Our total trade with Mexico increased over 1923 by approximately 16 per cent, represented by an increase of $15,000,000 in our exports and $27,000,000 in our imports. The former totaled $135,100,000 and the latter $167,100,000. Included in our highly varied shipments to Mexico were heavier consignments of mining machinery and automobiles. Increases in imports were shown particularly in lead ores and bullion, winter vegetables, and some other agricultural products. Of crude petroleum, our most important import, the quantity decreased materially but prices were higher and the value rose from $51,800,000 to $66,600,000. Copper (unrefined) imports fell off one-third in value. The increase in trade is all the more noteworthy in view of the fact that the first quarter of the year witnessed the closing of the most important ports of the country, owing to revolutionary outbreaks, and of the economic damage caused by the revolution.

Chart XVI.--TRADE OF THE UNITED STATES WITH MEXICO

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The economic recovery of Central America, apparent during 1923, continued throughout 1924 and resulted in increased exports from the United States. Our total exports to Central America were valued at $64,800,000, compared with $56,200,000 in 1923 and $37,600,000 average for 1910–1914. Our imports from Central America remained at the 1923 level, as increased importations of bananas were counterbalanced by large decreases in coffee and sugar. Considering these countries individually, our exports to Costa Rica, Panama, Nicaragua, Salvador, and Guatemala increased over 1923, those to British Honduras remained stationary, and those to Honduras decreased about $2,000,000. Our imports from British Honduras remained unchanged, while imports showed slight increases in the case of Costa Rica, Honduras, Nicaragua, and Panama, and declined from Salvador and Guatemala.

CUBA

The favorable year which Cuba enjoyed in 1924 is reflected in her increased purchases from the United States. We shipped to Cuba goods to the value of $199,800,000, an increase of 3.8 per cent over 1923 and of more than 50 per cent over 1922. The increased purchases of the last two years indicate the recovery which has taken place in Cuba since the depression of 1921 and 1922. Of the many products which we send to Cuba most show only moderate increases or decreases in 1924 as compared with 1923. Cuba held her position as sixth largest market for American goods in 1924 and took 4.4 per cent of our total exportation.

Our imports from Cuba declined from $376,400,000 in 1923 to $361,700,000 in 1924. This decrease is more than accounted for by the lower price of sugar. While imports of sugar increased slightly in volume, the decline in value was from $332,000,000 to $313,000,000. Cuba ranks third as a supplier of our import requirements, and fell

Chart XVII.-TRADE OF THE UNITED STATES WITH CUBA

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below the United Kingdom by less than $5,000,000 in 1924. Imports from Cuba of molasses and tobacco increased in 1924, while those of bananas, iron ore, and copper fell.

WEST INDIES OTHER THAN CUBA

During 1924 our imports from this group (in which is also included Bermuda) amounted to $27,000,000, a decrease of about 8 per cent from 1923. Our exports to these islands showed a slight falling off, amounting to $56,500,000, against $56,900,000 in 1923. The decrease in imports is accounted for by somewhat smaller crops and lower prices received for staple commodities and does not represent any notable shift in the trade movement. In spite of unfavorable conditions in several of the islands, our exports to them show little variation from the previous year. Shipments to the Dominican Republic and the Dutch West Indies increased; those to the British West Indies and Haiti fell off; and those to the French West Indies were approximately the same as the previous year.

COLOMBIA

Exports to Colombia were much greater in value during 1924 than in the three preceding years and were exceeded only by those of 1920. They amounted to $28,700,000, about 28 per cent greater than for 1923 and about five times the annual average for 1910–1914. The import market in Colombia during 1924 was fairly active. Imports from Colombia are normally double our exports to that country. In 1924 they were 26 per cent greater in value than during 1923, the increase being due almost entirely to higher prices paid for Colombian coffee.

We export to Colombia chiefly foodstuffs, textiles, hardware, and machinery, while our imports are coffee, gold, platinum, bananas, and hides.

Chart XVIII.-TRADE OF THE UNITED STATES WITH COLOMBIA

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Imports from Venezuela during 1924, totalling $16,500,000, showed an increase of 26 per cent in value over 1923, due primarily to higher prices for Venezuelan coffee. Exports to Venezuela showed an increase of 48 per cent as compared with the perceding year and were about four times the 1910–1914 average. The increase over 1923 was due to better business conditions in that country generally and to large esports of oil well machinery. Our exports to Venezuela are chiefly textiles, foodstuffs, machinery, and hardware, while our imports are coffee, cacao, and hides.

BRAZIL

Despite increased competition, expecially from England, Belgium, and Germany, the United States in 1924 increased its sales to Brazil by $19,600,000, our exports totalling $65,200,000, the largest figure ever attained except in 1919 and 1920. This is accounted for largely by greater sales of automobiles, petroleum products, flour, coal, and barbed wire. The value of imports of Brazilian merchandise during 1924 was $179,300,000, an increase of $36,100,000, due almost entirely to higher prices of coffee, the quantity of that product imported showing only a slight increase. Coffee represented 87 per cent of our

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