Coll 28/65 ‘Persia. Perso-Soviet Commercial Relations.’ [‎200r] (400/482)

WITH reference to my despatch Na 336 of the 19th June, I have the honour
to transmit herewith a memorandum by The commercial counsellor analysing and
commenting upon the Soviet foreign trade returns for the first five months of the
present year.
2. I am sending copies of this despatch to the Department of Overseas
Trade and to the Export Credits Guarantee Department.
I have, &c.
WILLIAM STRANG.
Enclosure in No. 1.
Foreign Trade of the Soviet Union, January to May 1933.
THE principal feature of the foreign trade returns of the Soviet Union for
May was the continued depression in exports, for which the embargo on trade
with the United Kingdom was partly, but not wholly, responsible.
In comparison with the average for the first four months of the year, the
total exports at 32 million roubles were down by 18 per cent. Imports, on the
other hand, at 41^ million roubles were 13 per cent, higher than the average for
the first four months. Compared with the first five months of 1932, exports
for the period January to May 1933 declined from 235-8 million roubles to
188 million roubles, or by 20 per cent., and imports from 335-8 million roubles to
169 million roubles, or by almost 50 per cent. The excess of imports over exports
in May, the first month this year when imports have exceeded exports, reduced the
favourable balance of trade to 19 million roubles at the end of May, as compared
with adverse balances of 100 million roubles and 132 million roubles at the
corresponding date in 1932 and 1931 respectively.
The shrinkage in exports during the first five months was most marked in—
Million
roubles.
Grain
14i
Textiles, cotton
11-3
Petroleum
3-5
Timber
3-4
Sugar
31
Furs ...
2-7
The decline in purchases of
Soviet textiles affected all the principal
markets, viz. :—
Million
roubles.
Persia
3-5
Afghanistan
3 4
Mongolia
2-7
Sinkiang
2 3
The development of the fur-dressing industry in the Soviet Union was
reflected in the exports of “ dressed furs,” chiefly squirrel, shipments of which
increased by 3 • 1 million roubles in comparison with the first five months of 1932.
Exports of undressed squirrel decreased by 2-4 million roubles.