($3,154,000 in 1937); and by Lithuania, $1,387,000 ($1,244,000 in 1937). According to Estonia's statistics, raw cotton represented 46 percent of the value of that country's purchases from the United States, while crude sulphur was 5 percent and automobiles (including parts and trucks) were 9 percent of the total. Of Latvia's imports from the United States, raw cotton made up 36 percent, automobiles (including parts and trucks) 14 percent, and leaf tobacco 4 percent. In the Lithuanian imports from the United States in 1938, fruits were 9 percent; raw cotton, 7 percent; leaf tobacco, 4 percent; lubricating oil, 9 percent; and dyes and colors, 3 percent.

BELGIUM

The decline in the value of United States trade with Belgium in 1938, as compared with 1937, was relatively larger than that for any other principal European country. This decline is made to appear

Figure 14.-Trade of the United States With Belgium (Imports Negligible, 1916-18).

0.09145

less significant, however, when it is noted that United States exports to Belgium in 1938 were over 50 percent higher than the annual aver age from 1931 to 1935, while imports from Belgium were higher by 43 percent than the average for those years. Both these gains exceeded the percentage increases in United States trade with Europe during the comparable period.

The actual change in shipments to Belgium, as shown in the United States statistics, is somewhat overstated in 1938. Belgium serves, particularly, as a large assembling and reexport center for automobiles, and Antwerp is an entrepôt for various United States goods in transit to other European countries. The foreign-trade statistics of Belgium, which cover imports for consumption or transformation but do not include in-transit trade, show that total imports from the United States increased in 1938 contrary to the downward trend shown by the total Belgian import trade. According to Belgian statistics (converted to United States dollars), imports into that country from the United States were about $86,475,000 in 1938, an increase of 8 percent over the 1937 imports.

$1.24

prese

The drop in the value of United States exports to Belgium in 1938 was influenced by the unusually large shipments in 1937, by the price it decline in 1938, and by smaller entrepôt trade in 1938. There were accumulations of stock of United States merchandise when the recession in Belgian business occurred; otherwise a material share of the trade in that year would have fallen in 1938. The trend of business activity in Belgium during 1938 in general paralleled the movement in the United States, with declining volumes in the first half of the J year and a revival in the latter half.

uits

As in the trade with other leading countries of Europe, exports of foodstuffs to Belgium increased in 1938-a consequence in part of Belgian crop conditions and more particularly of the general situation prevailing in the world trade in grain. Crude foodstuffs made up Belg nearly one-fourth of United States exports to Belgium in 1938, comatpared with less than 10 percent in both 1929 and 1937. While the to increase in this class over 1937 was accounted for mainly by increased shipments of corn and wheat, there was a substantial increase in exports of fruits.

Reductions were noted in exports to Belgium in 1938 chiefly in automobiles, petroleum products, metals, and other manufactured articles, although exports of raw cotton and unmanufactured tobacco also declined. Among the various exports in 1938, automobiles, including parts and accessories, retained the first rank as in 1937, but cotton, in second place in the earlier year, gave way to wheat in 1938; oil-cake, corn, lubricating oils, and gasoline followed in the order

named.

Cut diamonds continued to be the leading import item from Belgium in terms of value, representing 29 percent of the total in 1937 and 33 percent in 1938. The rest of the imports were broadly distributed, with linens, cotton floor coverings, glue stock, rabbit fur, cotton cloth, and structural steel the predominating commodities. The declines in value of these six imports ranged from 42 percent to 58 percent, and the decreases in barley malt, zinc, cadmium, and potash, among other commodities, were relatively still larger.

The decrease from 1937 to 1938 shown for uncut and engravers' diamonds in table 20 represents primarily a change in the method of reporting these imports rather than a decline in trade. Whereas both uncut and industrial gems were accredited in the 1937 statistics largely to the European country of transshipment, these items were accredited largely to the country of origin in the 1938 statistics.

Table 20.-Principal Commodities in Trade of the United States With Belgium NOTE. Data for individual export items include only United States products. Import commodities are "general imports" in 1929 and 1932 and "imports for consumption" in 1937 and 1938.

Table 20.-Principal Commodities in Trade of the United States With Belgium

es With

TRADE BY REGIONS AND COUNTRIES

57

Table 20.-Principal Commodities in Trade of the United States With Belgium

Continued

Figures for 1929 and 1932 have not been adjusted for minor transfers in the classifications of later years.
Household refrigerators only.
Not shown separately.

CZECHO-SLOVAKIA

Beginning November 10, 1938, United States trade with the Sudeten area, as far as ascertainable, is included in the statistics for Germany. Trade with the other Czecho-Slovak Provinces occupied by Germany, Hungary, and Poland is included in statistics of United States trade with these respective countries since March 18 or 19, 1939. Statistics of imports into the United States in 1938 from Czecho-Slovakia, exclusive of the Sudeten trade after November 10, are shown in table 21. The principal United States imports from Czecho-Slovakia in 1938, as in other recent years, were textile manufactures. Leather footwear, leather gloves, glass products, beads and beaded articles, hops, wood pulp, and precious stones and imitations continued to rank next in importance among other import commodities.

Principal commodities in the United States direct exports to CzechoSlovakia in 1938 included 219,801 bales of raw cotton valued at $12,021,000 (42,426 bales, $2,667,000 in 1937); machinery and vehicles.

at $2,604,000 ($3,316,000 in 1937); refined copper ingots and bars, 66,828,000 pounds at $6,464,000 (13,344,000 pounds, $1,446,000 in 1937); dried and evaporated fruit, 10,895,000 pounds at $432,000 (5,128,000 pounds, $258,000 in 1937); lubricating oil, 36,970 barrels at $475,000 (36,763 barrels, $465,000 in 1937); and lard, 5,303,000 pounds at $494,000 (1,626,000 pounds, $169,000 in 1937).

However, because United States trade with Czecho-Slovakia must pass through bordering countries and is often credited to them, the official statistics of exports to that country have always understated the actual trade. While direct exports from the United States totaled only $13,233,000 in 1937 and $26,526,000 in 1938, imports from the United States, according to Czecho-Slovak statistics (converted to United States dollars), were valued at $39,078,000 in 1937. The latter statistics, which include merchandise received indirectly, are not available for the year 1938. Information relative to the CzechoSlovak statistics and to the general economic situation in that country, is available in the Foreign Commerce Yearbook, published by the United States Department of Commerce.

Table 21.—Principal Commodities Imported Into the United States
From Czecho-Slovakia

NOTE.-Import commodities are "general imports" in 1929 and 1932 and "imports for consumption"

in 1937 and 1938.