The Board of Trade Returns for January, issued on Wednesday,
will afford but cold comfort to believers in our progressive commercial decadence. The figures for the month, as compared with January, 1905, are as follows :— Increase.
Imports 453,475,830 ... £5,709,370 Exports ... 30,774,811 ... 5,785,034 These totals not only constitute a record for the month in each department, but they are rendered additionally satisfactory by the fact that prices have of late been slightly on the down grade. Among the imports, the greatest increase has been in raw materials and articles mainly unmanufactured, cotton alone showing an advance of £1,729,163. In the exports, seven- eighths of the improvement is due to manufactured goods. In all the fifteen groups included in the Returns there is a sub- stantial increase, cotton showing nearly £1,500,000, iron and steel manufactures £760,000, machinery £540,000, and wool and other textile goods £568,000. Thus, to sum up, while the greater part of the increase in imports is not in manufactured goods, but in food and raw materials, the main increase in ex- ports is in manufactures. Again, while the years 1903-5 show that our exports to British possessions have increased by some £2,500,000, those to foreign countries have increased by £36,000,000.
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