The Birmingham age-herald., 1922-02-18
TRADE BALANCE 4 TIMES GREATER
 THAN YEAR 1914
Most Significant Fact Is Geo. graphical Distribution of Trade for Past Two
 Years
By AssOclsrnd Press

Washington, February TIA world trade balance in 1921 favor able to the United States four times greater than the last pre-war year, notwithstanding decline of AS per cent in exports and 52 per cent in imports for 1921 over 1920, was an nouneed today by the department of commerce in a review of trade condi- tions.
 The total export trade, the review said, fell from sS.22S. 100000 in 1920 to s4.4S5.oOo.O .OOO in 1921 while i'm ports fell from s5.27S, o0e,0oO to g. 0s.00O,0oO during the same period. This decline, it was explained. how ever, was more apparent than real even when compared with the unpre- eedented trade of 1920 as values in that year were enormously in Hated" and 1921 was a year of rapidly declining prices.
 Distribution Shifts
 The most significant fact" the review said, "in the geographica. distribution of trade during the past two years is the change in the rela tive positions held by Europe and Asia as compared with 19f3-I4. Dur ing 1913-t4 which is a typical year for showing the pre-war distribu- tion of exports, 62.9 per cent of United States exports went to Europe. 22.3 per cent to other North American countries and the remain ing 15 per cent was divided between Asia t4S per cent, South America (5.3 per cenD, Oceania (3.3 per cent) and Africa C1.2 per cenD. In 1921, 53.T per cent of our exports went to Europe-much less than the corre- spending percentage for 1SfS-l4-and exports to Asia constituted 10.S per cent of the total as compared with only 4.S per cent in 1913-14. The relative importance of each of the other continents as markets for the United States likewise increased ai- though in a less marked degree"
 Most Important Region
 The Europe Mediterranean region continued to be the most important region of all the world trade regions In United States trade. taking more than one half of this country's ex- ports, and furnishing approximately one third of imports during 1921.
 Exports for the year 10 Europe Mediterranean countries were $2,- 40s.000,000. and more than one half of this total was taken by the three western European countries. Eng land. France and Belgium. About one fifth went 10 central Europe Holland, Germany Austria. Hun gary, Czecho- -slovalSia and Switzer- land and one e-eighth 10 the western Mediterranean countries. Spain. Por- tlsga3, -Ttalv ti7Hd nortg .Affioa. Scar dinavian countries took $l10 000.009a of American exports while eastern Europe, Russia including the Baltic states, Poland and Finland took $52,- 000.000 and the Balkans and Near East. Rumania. Bulgaria, Jugo- Slavia, Greece. Turkey In Europe and Asia. Egypt and Persia, ss40oo,o00.
 Truth Underestimated
 The figures for eastern Europe ex- ports. the review said. Undoubtedly somewhat underestimate the truth as considerable quantities of American goods exported in the first instance to western Europe, Scandinavia or central Europe are reshipped thence to eastern Europe. To less degree. for similar reasons. our exports to the Balkans and the near east are probably understated."
 Imports in 1921 from the Europe Mediterranean region amounted t. $SoS,000, 900. or g per cent of the to- tai More than one-half of these, or s406.000 ,000 came from Hester, Europe, central Europe with s177,- 100000 coming next and the western section ranking third with ss7000000. Imports from east ern Europe were extremely small as might be expected from the gen eral demoralization of production in that region as a result of the war and from the fact that it Is primar- fly an agricultural region and there fore has little to contribute to the re- Of the United States"
 Big Export Gains
 Exports from the United States to the Europe Mediterranean region l last year were equal to 1909 per | cent of those for the last pre- war year, but the most marked increase | over pre-war exports was in exports | .o tte Balkans and the near east | amounting 70 65S.2 per cent. The in crease from the western Mediterran- can region was 2S4 per cent and PTS | per cent for Scandinavia. The small ! est increase was for central Europt where buying power had been great i ly diminished by the war Here. | however. the American exports for 1921 exceeded those of 19i3-14 by 115 i per cent. Exports D western Europe | showed an increase of 15I per cent. | And eastern Europe an increase of | 153 per cent.
 Exports from the United states to | Isatin- American countries fell off | nearly sSo0.Oo0.00O during the call | andar year 1921. but were $500 000. .OOO | greater than during the fiscal year | l913-14.
 Imports during 1921 fell off sl | )96,327,000. although they were greater than the last pre-war year | by s225 5000, 900.