Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1920-12-28
i. s. FOREIGN
TRADE IN 1920
SET HIGH MARK
Will Exceed 13 Million DOL
lars, As Against a Little
More Than IL Million
Dollars in 1919.


ESPECIAL p'sPAreH TO MORNING JOURNAL
New York, Dec. 27.--The for
eign trade of the United States
makes a new high record in
1920. The record of eleven months
and the knowledge Of what is 60
ing on in the foreign trade in the
twelfth month justifies says a
statement by the National City
bank of New York. the belief that
our foreign trade in the calendar
year 1920 will be "the biggest
ever" and exceed $4,000, 600, 900
as against a little less than SIP
000,000,000 in 1919 slightly more
than $4,000, 600, 900 in 1918, and
s4,259,000,000 in the fiscal year
1914. Exports will apparently
cross the $4,000. 100000 line as
against $7,920,000. 600 in 1919 and
$2,S65, 100000 in the year preced-
ing the war, while imports will ex-
coed $5,000.000,000 as against
$1,000. 100000 in 1919 and 1884
10000 in the fiscal year 1914.
These increases occur, on the i'm
port side, in all of the three great
SlouBpl law IAdltl ldiS loL Iilclllu-
featuring" "foodstuffs," and
manufactures" The demand in
the first half of the year 1920 for
raw materials abroad was very
large, and the prices were very
high. The value of raw material
imported for use in manufacturing
will be apparently about $1,750,-
900, 900, an increase of about $780,
100000 over the preceding year.
Crude foodstuffs show no material
increase, but in the foodstuffs
partly or wholly manufactured"
which includes the item of sugar,
the total is more than double in
value than that of 1919. Finished
manufactures will show big ad-
vance, standing for the ten months
ending with October at 1857, 000,-
100000 against 1856, 100000 in the
same months OF the preceding
year.
On the Export Side.
On the export side, the striking
characteristics are a big gain in
the exports of manufactures, a ma
terial increase in the value of raw
material, an increase in wheat and
other grains but a big fall off in
meats and dairy products. Fin
ished manufactures exported will
show a total of over three billion
dollars as against about two and a
half billions in the preceding year,
and the grand total of manufac-
lures of all kinds, including the
group manufactures for further
use in manufacturing will be over
four billions. Raw material for
manufacturing which consists
chiefly of cotton, will apparently
exceed 1918 by about 5000, 900. 900,
and crude foodstuffs, which means
wheat, rice and corn, other arti-
Giles of this character, will show an
increase of $3.50, 100000 while
foodstuffs "partly or wholly man
ufactured" show big fall off, and
the total for the year will appar-
emily be a little over one billion
dollars against 81, 100000 in
1919 which was by far the highest
record of exports of this class of
foodstuffs. This startling decline
in exports of meat and dairy prod
ucts is illustrated by the fact that
bacon exports in the ten months
ending with October were only
100000 pounds against 1885,
100000 in the same months of the
preceding year; and in other arti-
Giles similar decline.
Where Growth Occurs.
The growth in our trade occurs,
adds the banks statement, in
practically all parts Of the world.
True, there Is slight decline In
exports to Europe, but big in
crease in the imports from that
continent. The value of imports
from Europe in the ten months
ending with October was $1,078.-
100000 against $685., 100000 in
the corresponding months of 1919.
The exports to Europe In the ten
months were $3,72l 100000 against
"a, 264.000, 900 in the same months
of last year, this decline occurring
apparently in meat and dairy prod
ucts, the total exports of meats,
most Of which normally go to Eu-
rope, having shown fall of over
$500, 100000 in the nine months
ending with September. though In
her other great requirement-man-
ufacturing material-the export
figures show an increase of over
$500, 100000 and nearly all of this
increase consisted of material des-
tined for Europe. With the other
grand divisions, the trade shows
prosperity. To our neighbors in
North America our exports for the
ten months of 1920 are $685.
100000 as against $1,029, 900, 900
in the same months of the preced-
ing year, and our imports from
them $l.473.000.000 against s973,-
100000 in the same months of last
year, This increase in our imports
from our North American neigh
bors occurs very largely in sugar
at very high price, and the in
crease in our exports occur Chiefly
in manufactures of all kinds. From
South America, we increased our
imports about $135,000,000, while
our exports to that continent also
increased about 100000, 900. From
Asia, we increased our importations
over $300,000,000 and increased
our sales to the Asiatic countries
to the extent of about 100000, 900.
The conditions in Japan in the sec
ond half of the year have some-
what reduced our exports to that
section of the orient. though to all
the other oriental countries there
is a marked increase down to the
very latest date, and this is true
also with reference to Oceania and
Africa to which there has been
large increase in our sales and the
corresponding advance in our pur-