Norwich bulletin. [volume] (Norwich, Conn.) 1895-2011, 1922-05-05
OUR EGYPTIAN TRADE; PAST,
PRESENT AND PROSPECTIVE

What will be the effect upon the
trade of the United States OF the re-
cent establishment of Egypt as an
absolutely Independent political cnti-
ty? The growth of our trade with |
Egypt in recent years. says the Trade
Record of The National City Bank of
New York, has been one OF the strik-
ing features of the commercial changes |
during and since the war. our total
trade with Egypt in the year preced-
ing the war was but about $1,000
600; in the closing year of the war
it was sB5,000,000, in 1919 it 'Idvanc-
ed to S55.000,0O0, and in 1920 tOtdled
s135, 900 900. With the general reduc
ton which characterized world in
ternational trade in 1921 and the
sharp fall off in purchasing power
of that country by reason ~ the low
price of its cotton, the total of our
trade with Egypt fell to $4,000 00'
but was still more than double that
in 1918 or in any year prior 10 the
war.
! This growth in our trade with EEypt
| has been especially striking III the
matter of merchandise exported 10
that country. Prior to IIe war. our
exports to Egypt seld IN exceeded s.
| &C., 600 and in many years were far
over $14000000, dropping off in 1917
and 1918 by reason OF transportation
! difficulties, but again advancing &c
! S15,00O,0OO in 1919, md S3S,0O9,OOO N
! 1920. In 1921 the fall OF the price OF
Egyptian cotton reduced the pUrchas-
ing power of that comrry and while
our exports to Egypt in 1921 were
but $4,000 900 they were practically
seven times as much us the annua!
L average in the decade preceding fhe
2, ErfFgnrn
with a return of the purchasing pow
er of Egypt resulting from the higher
prices which she is already leg-nn ng
to realize for her chief article ot eX-
port, raw cotton, Of which the United
States is a large purchaser.
Wheat, flour, coal petroleum IN us
various forms, machinery leather
! goods, cotton goods, manufactures Of
iron and steel, and tobacco are the
E most important of our exports To
Egypt. OF coal the 1920 exports &c
= that country were over s6,00O,OOO'OOO II
value. which far exceeded the average
s in the years in which Egypt was
t. drawing its coal requirements from
s its nearer neighbors in Europe. WING
s Egypt is normally considerable pro
I Queer OF wheat the extremely mgr
i prices of cotton during the war lei
cotton acreage at the expense Of tn
wheat area end as a consequence W.
sent to Egy9t IL million dollar
worth of wheat and over S1lO00OOl
: worth of flour in 1920. Practically a.
of her iron and steel imports wer'
! prior to the war drawn from Europ
: but our own exports of iron and stee
e manufactures TO Egypt in 1919 exec /
= ed So. OOO.0 end in 1920 were II eX
:. cess of 100000 most OF this be.ai
= machinery, which totaled about J
= million dollars IN 1:L0 while the -
morris of ieataAr ans marUfa -tu- Z
thereof to tina. cci.rtry Aggregated
about s1.O00.990 in 1J14. Amo II n
d other articles which helped to br.ni
n our total of exports 20 Egypt in 1872
q I'D to a total fifteen times as Taucl
. as in any pr2-war year were alltnhio
II bIles. agricultural implements, ali
/ way cars, cotton goods of all kinds
< Tin plate boots and shoes silk manu-
Is features, cottouseed oil, and condense
milk.
On the import side our chief de
rands upon Egyp. have been raw co.
n ton, since her long staple c1ttnn 0
s high grade and silky appearance
lie greatly priced Iy Cur manufacturer
lie for use in conjunction with our ow
W domestic cotton. Cur imports frpl
/ Egypt in 1920. which aggregated Ss7,
y 100000, included S99. 100000 worth G
raw cotton, which came at a.verag
price of soc per pound against 2Sc /
: that brought from China and pc j
: that coming from IiiGia. AmcrS III
t other articles which we imported fror
Egypt in 1929 were nearly a milo
e dollars worth of goat and sheep skim
o and many other articles includin
ed about s5O.9900OO a year aEains