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

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

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 exports 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

total imports from Brazil. Imports of Brazil nuts increased, but there were decreases in other leading articles, such as hides and skins, rubber, and cocoa.

Chart XIX.-TRADE OF THE UNITED STATES WITH BRAZIL

Argentina ranks first among the South American countries in our export trade, but in 1924 it dropped to third place in imports, both Brazil and Chile having exceeded Argentina in furnishing us raw materials and foodstuffs. Our imports from that country fell to $75,300,000 as compared with $115,300,000 in 1923. This decline was due largely to the comparatively depressed condition of the American leather and woolen goods industries and to the increase in flaxseed production in this country. However, high prices were ruling for Argentine goods in Europe and there was an increase in total exports from Argentina. Thus the Argentine import market was strong. Our exports to Argentina totaled $117,000,000 as compared with $112,800,000 in 1923. Our leading exports to Argentina are petroleum products, agricultural implements (which increased materially in 1924), cotton cloth, lumber, hardware, machinery, iron and steel products, automobiles (which increased sharply in 1924), musical instruments, and photographic and motion-picture supplies. The principal imports are flaxseed, wool, hides, and quebracho. Argentina's principal export products, meats and grain, are adequately supplied by our own agriculture.

Chart XX. TRADE OF THE UNITED STATES WITH ARGENTINA

URUGUAY

Exports from the United States to Uruguay follow along the same lines as those to Argentina, but on a much smaller scale. The 1924 figures of American trade with that republic indicate a strong and growing demand for our goods in that country, although our imports, as in the case of Argentina and for the same reasons, fell off greatly. Our exports increased in value from $15,100,000 in 1923 to $18,200,000, and our imports declined from $21,800,000 to only $7,100,000. The chief products shipped to Uruguay were petroleum products, sugar, and lumber. Imports comprised chiefly hides and skins and wool.

PARAGUAY

Our foreign trade figures for Paraguay are of little statistical significance as a large portion of this trade is indirect, passing through Argentina and Uruguay. Exports to Paraguay consist largely of textiles, pharmaceutical products, and hardware. Crockery, china

ware, and boots and shoes are also important items. In 1924 according to Paraguayan statistics, the United States took third place in the value of imports into the country and second place with respect to exports of Paraguayan products. Quebracho is our chief import.

BOLIVIA

Goods going to and from Bolivia must pass through one of four bordering countries, with the result that our export and import statistics do not portray fully the volume of trade or show accurately the changes in it. Imports recorded as direct from Bolivia were, in 1924, only a small fraction of those in 1923, while direct shipments to Bolivia increased by more than one-third. Imports from Bolivia consist almost entirely of mineral products, particularly tin concentrates. The principal export items are foodstuffs, textiles, and mining equipment.

CHILE

Chile retained its position in 1924 as the third South American market for American goods, and rose to second place as a source of imports. Our exports to Chile in 1924 were valued at $31,400,000, a little more than in 1923, and imports amounted to $98,700,000, as compared with $91,800,000 in 1923.

Among Chilean products coming to the American markets nitrate is the most important; imports in 1924 were valued at $46,923,000, as against $41,119,000 in 1923. Copper is next, with a total of ores, concentrates, unrefined, and refined, valued at $40,039,000, compared with $39,538,000 the year before. Among our exports to Chile, unbleached cotton cloth, gas and fuel oil, automobiles,

railway material, insulated copper wire, tin plate, and coal increased in value, while galvanized wire, galvanized sheets, machinery, sewing machines, and motion picture films fell off.

Chart XXI.-TRADE OF THE UNITED STATES WITH CHILE

The exports from the United States to Ecuador during 1924 showed an increase of about 25 per cent as compared with 1923, while our imports from that country, consisting chiefly of cacao beans showed only a small increase.

PERU

The trade of the United States with Peru in 1924 increased as to exports by 20 per cent, but decreased as to imports by 6 per cent. Both exports and imports were far larger than the average for the pre-war years 1910-1914. Our exports to Peru totaled $23,800,000, mostly textiles, foodstuffs, and machinery. Among imports copper was valued at $9,725,000; sugar at $2,320,000; and raw cotton at $1,640,000. Among products exported to Peru which increased in both value and volume in 1924 were, butter, lard and substitutes rubber tires, Douglas fir, paraffin wax, tin plate, sewing machines, and phonographs.

TRADE WITH EUROPE

The great importance of our trade with Europe and the changes in it caused by the war have already been discussed in the section on general geographic distribution of trade. Details for individual countries are given in Tables 37 and 38, and the changes in the trade with the four major commercial regions are shown graphically in Chart XXII.