Nevertheless, the adverse balance of Japan's foreign merchandise trade for the first quarter of 1938 was only Y.65,900,000, showing a sharp decline of Y.257,376,000, or 79.7 per cent, in comparison with the corresponding period of 1937.
Japanese exports for the first quarter totalled ¥.605,220,000 and imports Y.670,922,000, Compared with the first quarter of 1937, a decrease of 17.5 per cent, was shown in exports and of 36.5 per cent, in imports, Japan's export for the period of cotton textiles amounted to Y.97,000,000, showing a decrease of +10.6 per cent, from a year ago. Indications that raw cotton arrivals to Japan will hereafter be curtailed bring fears that cotton textiles exports will further decline during the year, Exports of hosiery goods and woollen textiles are being similarly affected.
Exports of rayon textiles, canned and bottled provisions, pottery and porcelain and toys for the first three months of this year decreased by from twenty to forty per cent, compared with exports in the first quarter of 1937, Due largely to the recession in the United States, exports from Japan of raw silk and textiles declined ranging from 17 to 20 per cent, compared with' volumes in the first quarter of last year.
Raw cotton imports decreased by 70 per cent, raw wool by 88 per cent, crude rubber by 55 per cent, and lumber by 45 per cent, during the same period.—Reuter,
Text read from the printed page and cleaned; old type leaves the occasional error.