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TRADE WITH ASIA AND OCEANIA

Tables 39 and 40 show the trade of the United States with the countries of Asia and Oceania. From the standpoint both of trade routes and of commodity character our trade with Western Asia, commonly called the Near East, differs radically from that with southern and eastern Asia and Oceania, which together are commonly designated as the Far East. Totals for the Far East are given at the bottom of the tables. Chart XXXV shows relative (not ahsolute) data for the several commercial regions.

The exports to all Asia in 1924 were $514,600,000 and to Oceania $156,500,000. Deducting the $5,500,000' exported to western Asia leaves $665,600,000 to the Far East. Our imports from western Asia are four times as great as our exports to that region but are still very small as compared with the imports from the Far East.

Table 39.--Trade of the United States with Asia and Oceania, by Commercial

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

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Asia, total... 1. Western, total..

Hejaz, Arabia, etc..
Palestine and Syria.
Aden.
Persia...

Turkey in Asia.
2. Southern and Southeastern,
total..
British East Indies, total.

British India..
Straits Settlements.

Other British
Dutch East Indies.
French Indo China.
Philippine Islands.
Siam.

Other Asia.
3. Eastern, total.
China, total.

China.
Hongkong..
Kwantung (leased ter-

ritory). Japan... Chosen.

Russia in Asia. 4. Oceania, total.

443.1
309.8
128.0
153. 8
28.0
54.9

4
77.7

432.1 276.7 103.3 148.0 25.4 57.5

2 97.1

3

3.1

2 22,6

5 (2)

8.1

.8 43.3

.9

61.7

46.5
2.0
.1

.1

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Australia...
New Zealand.

Other Oceania
Par East (Groups 2, 3, 4).

47.7
38.7
7.8
1.2

112.8
82.8
28. 1
1.9

101.9 146.4 136.6
80.5 119.4 125. 2
20.0 25. 3 29.3
1.5 1.8 2.0

17.3
12,3
3.8
1. 2

35.5
22.8
9.8
2.8

48. 6
35. 8
10.4
2.3

69. 2
41.1
15.6
2.5

48.9 32.9 13. 5 2. 5

186.2 890.9

842, 8 653.4 665. 6 262.2 633.8 857.5 1,061.4 958.0

1 July 1 to December 31.

? Less than $50,000.

Chart XXXV.-TRADE OF THE UNITED STATES WITH ASIA AND OCEANIA

RELATIVE TO PRE-WAR AVERAGE

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

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Table 40.—Percentage Distribution and Per Cent Change in the Foreign Trade

with Asia and Oceania by Commerce Regions and Principal Countries

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Western Asia includes the Arabian peninsula, Turkey in Asia, and Persia. The total value of exports to western Asia declined from 1921 to 1923, but 1924 shows a slight improvement over 1923. The exports to Turkey in Asia during 1924 consisted mostly of necessities of life and the total value was less than one-eleventh as much as in 1921. Exports to Palestine and Syria, principally petroleum products, expanded showing an increase of about 24 per cent over 1923. Exports to Persia, consisting mostly of textiles and foodstuffs, are small.

Imports from Western Asia show a considerable increase in 1924, being over 25 per cent more than in either 1922 or 1923. This increase iş noted in all the countries except Aden, imports from which were

slightly less than in 1923. The chief imports from these countries are hides and skins, rugs, gums, licorice root, mohair, opium, filberts, and figs and raisins.

FAR EASTERN TRADE IN GENERAL

During 1924 the export trade to the Far East continued to respond to more thorough organization and cooperation in the representation of its interests. Keen competition was, however, faced everywhere. Political, financial, and general economic disturbances seriously hampered trade in China, Japan, and India. Lower prices of several basic commodities, particularly during the early months of the year, tended to reduce the valuation of imports. Our exports to every country in the region, except Japan, showed increases, and the total, $665,600,000, exceeded that of 1923 by 1.9 per cent. On the other hand, our imports, which amounted to $958,000,000, had dropped off over $100,000,000, there being notable reductions in both quantities and prices of many articles. Imports from China suffered most heavily, while the only countries not showing declines were the Dutch East Indies, Philippines, and Siam. The trade balance against the United States was reduced by $115,000,000 as compared with 1923.

Record-breaking sales of American automobiles and trucks were made in the Far Eastern markets in 1924. Australia ranks first among the countries of the world as a market for American passenger cars. , Japan led all countries as a market for American motor trucks In 1924 more than 700,000,000 gallons of refined petroleum was sold in this region, valued at approximately $80,000,000. We exported to it more than 900,000,000 feet of lumber, with a valuation of $23,000,000. Machinery continued to find large sale. The value aggregated nearly $68,000,000, Japan taking about $27,000,000 worth and Australia almost $22,000,000. The Far East took $60,000,000 worth of iron and steel. Shipments of leaf and manufactured tobacco were valued at $47,000,000; of wheat and flour, mainly to China and Japan, at $28,000,000; and of leather at $5,000,000. An aggressive dye campaign was carried on by American exporters in China, where Germany is our keen competitor.

Imports of manufactured goods from the Far East are confined largely to silk fabrics from China and Japan, burlap and jute bags from India, and sugar. Imports of textile fabrics declined in 1924. Among raw materials from the Far East, raw silk continued to rank first, being valued at $312,000,000, a decrease of $47,000,000 despite an increase in quantity. Rubber followed, with $143,000,000 (not counting rubber received from the same sources indirectly through Europe), a drop of 6 per cent in value accompanied by an increase of 5 per cent in quantity; and tin, valued at $52,000,000, ranked third, snowing some increase in value but falling off in quantity.

BRITISH INDIA AND CEYLON

Our imports from both British India and Ceylon during 1924 fell off materially but exports registered increases, despite sharper competition from Europe. Shipments to British India, amounting to $34,900,000, were some $4,650,000 greater than in 1923, owing largely to the fact that stocks of import merchandise in India were getting low and to the increased purchasing power occasioned by two successful monsoons and to appreciation of the rupee. The largest

Chart XXXVI.-TRADE OF THE UNITED STATES WITH BRITISH INDIA AND

BRITISH EAST INDIES OTHER THAN STRAITS SETTLEMENTS

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increases occurred in automobiles and trucks, petroleum products, iron and steel manufactures, cotton goods, and rubber manufactures; while machinery, chemicals and dyes, canned fruit, and condensed milk declined.

Our imports from India normally are three or four times the exports. During the year they declined some $25,000,000, amounting to $103,300,000. The decline was accounted for by smaller receipts of hides and skins, raw and manufactured jute, shellac, carpet wool and carpets, and tanning materials. In several other items, notably manganese, tea, rubber, and raw cotton, business was greater.

STRAITS SETTLEMENTS

Imports from the Straits Settlements in 1924 declined 3.7 per cent. The chief product contributing to the decline was rubber, the largest item, and this was wholly due to lower prices. The quantity imported advanced 2.27 per cent. Rubber prices showed a marked

Chart XXXVII.—TRADE OF THE UNITED STATES WITH STRAITS SETTLE

MENTS

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increase in the latter part of the year. Imports of tin, the second product of importance, increased over $6,000,000 in value, though the quantity fell somewhat. Our demand for rattan, spices, and tea from this region fell off in 1924. Our imports of British Malayan gums were somewhat greater than in the previous year.

The slight increase in our exports to the Straits Settlements was due to increased sales of chemicals, canned fish products, machinery, automobiles, and trucks. Cigarettes, our largest export, fell off, as did also petroleum products, iron and steel manufactures, canned fruits, and, markedly so, cotton goods.

SOUTHEASTERN ASIA (OTHER THAN BRITISH) Our trade with southeastern Asia—the Philippines, Dutch East Indies, Siam, and French Indo-China-increased in 1924. In the case of the Philippine Islands, from which we buy largely sugar, manila hemp, copra, and coconut oil, our imports in 1924 were $97,000,000, advancing 25 per cent over the previous year. About

Chart XXXVIII.-TRADE OF THE UNITED STATES WITH DUTCH EAST INDIES

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$10,000,000 of this increase was accounted for by sugar and $4,000,000 by coconut oil. We bought slightly less hemp and embroideries than in 1923.

Our imports of Dutch East Indian products, chiefly rubber, tin, tropical foodstuffs, and gums, advanced about 5 per cent in value, amounting to $57,500,000. The year 1923, however, had witnessed an increase of 60 per cent in imports from these islands. A large amount of Netherlands Indian produce, especially rubber and tobacco, reaches the United States via Singapore and European ports, and does not appear in the reported statistics. Imports of rubber, coffee, kapok, and sisal showed the chief increases in 1924, while tin, tea, and copra declined.

Our exports to the Philippine Islands advanced 21 per cent over 1923. Normally we hold about 60 per cent of the import trade of the Philippines. Increases appeared particularly in automobiles, machinery, iron and steel manufactures, wheat flour, and canned milk. The only conspicuous decline was in cotton piece goods, due to increased competition from Great Britain and Japan.

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