§ 29. Mr. Thurtleasked the President of the Board of Trade the value of goods purchased in this country by Soviet Russia for the first nine months of the present year, and the corresponding figure for the same period of last year?
Mr. StanleyDuring the nine months ended September, 1937, the total declared value of merchandise exported from the United Kingdom and consigned to the Soviet Union was £14,661,000, including re-exports valued at £12,767,000; the corresponding figures for the same period of last year were £10,742,000 and £8,031,000, respectively.
§ Mr. ThurtleDoes not the right hon. Gentleman agree that this very satisfactory increase indicates that Soviet Russia is becoming a very important market for British goods?
Mr. StanleyI should have been more satisfied if there had been a larger increase in the real exports from this country rather than an increase in re-exports.
§ Major-General Sir Alfred KnoxDoes the right hon. Gentleman not agree that the large figure for re-exports shows that this trade agreement with Russia has given very little benefit to this country?
Mr. StanleyThe hon. and gallant Member must realise that the effect of the recent credit agreement will not yet have shown itself in the trade figures.
§ Sir W. DavisonIn the figures he gave £12,000,000 out of £14,000,000 are re-exports, and do not affect employment in this country.