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War Economy

Volume of Trade

Volume of Trade

The following table revalues wartime trade at the average prices ruling for the three pre-war years 1936 to 1938 and gives a good impression of the change over the war years in the volume of total trade. Imports, as shown in this table, include Lend-Lease supplies and other defence imports. Exports, however, do not include reverse Lend-Lease goods, which were supplied to the American authorities in New Zealand and either used here or shipped by them to the Pacific in their own vessels. On average, the recorded volume of total trade during the war years was about 5 per cent below the years 1936 to 1938.

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Volume of Trade
(Values expressed in 1936–38 prices) £(m.)
—– Exports Imports Total Trade
1936 62 46 108
1937 61 55 117
1938 59 54 113
1939 59 49 109
1940 66 41 107
1941 59 37 95
1942 69 38 107
1943 58 66 124
1944 59 55 114
1945 57 33 90
1946 67 39 106
1947 71 60 132