The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1922-02-18
TRADE BALANCE
4 TIMES LARGER
THAN IN 1878
Despite Big Drop in Exports
and Imports Last Year Bal
ance Still Favorable.

A world trade balance in 1921 IA
vorable to the United States four
times greater than the last pre-war
year, Notwithstanding g. decline Of
rs per cent in exports and 81 per
cent in imports for 1921 over 1920,
was announced yesterday by the
Department of Commerce.
The total export trade fell from
1929, 900, 900 in 1920 to $4,4S5, 900, 900
in 1921, while imports fell from S.
273, 900, 900 to $2,509 ,000,000 This
decline. however, was more appar-
ent than real, even when compared
with the unprecedented trade of
1920, as values in that year were
enormously inflated and 1921 was
a year of rapidly declining prices.
The most significant fact" thu
review said, "in the geographical
distribution Of trade during the past
two years Is the change in the rela-
tive positions held by Europe and
Asia as compared with 19l3-J4. Dur.
ing 1894, a typical year for show
ing the pre-war distribution Of ey.
ports, 62.9 per cent of United States
exports went to Europe; 22.3 per
cent to other North American coun-
tries and the remaining Is per cent
was divided between Asia, South
America, Oceania and Africa.
SO Per Cent Exports TO Europe.
I'm 1921, 52.7 per cent of Our
exports were to Europe-much less
than the corresponding percentage
OF l9l3-14-and exports to Asia con-
stituted 1913 per cent in 1913-14.
The European Mediterranean re.
gion continued TO be the most i'm
portant region Of all the world
trade regions in our trade, taking
more than oneh-alf OF this country's
exports and furnishing one-third Of
imports during 1921.
Exports for the year to Europe
Mediterranean countries We're So
409, 000.0 900 and more than one-half
of this total was taken by the
three western European countries.
England, France and Belgium.
About one-fifth went to Central Eu-
rope, Holland. Germany, Austria.
Hungary, Czecho Slovakia and
Switzerland, and one-eighth to the
western Mediterranean countries,
Spain, Portugal, Italy and North
Africa.
Far Eastern Trade.
Scandinavian countries took s110.-
000, 900 of American exports, while
Eastern Europe, Russia. including
the Batic States. Poland and Fin
land. took $4,000 900, and the Bal
kans and Near East, Rumania, Bull
garia, Jugo- Saliva, Greece, Turkey
in Europe and Asia, Egypt and Per.
STA 81. zoe 900.
The figures for Eastern Europe
exports. The Review said. "undouht-
eddy somewhat underestimate the
truth, as considerable quantities of
American goods exported in the first
instance to western Europe. SCandi-
navia or Central Europe are reship-
ped thence to Eastern Europe.
To a 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 TO
sSOS, 100000 or 80 per cent Of the
total. More than one-half OF these,
or 100000. came from Western
Europe; Central Europe, with 81.
100000, coming next, and the West
ern Mediterranean section ranking
third with s97,000,000. Imports
from Eastern Europe were eX.
tremely small.
Exports from the United States to
the pe-Mediterranean region last
wear 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 to the
Balkans and the Near East, amount.
ing to 65S.2 per cent.