tiated by citizens of the two countries. On the side of imports from Germany, the abrogation of most-favored-nation treatment provisions of the United States-German trade treaty has especially hampered the free flow of commodities. The United States has imposed countervailing duties on certain German merchandise, where it could be demonstrated that they were subsidized. The German system of "blocked" currency, informal boycotts on German goods, progress in domestic chemical production, and the 1937-38 business recession in the United States have also been important contributing factors in the decline in United States imports from Germany.

Export Commodities.

For many years raw cotton has been the leading United States export to Germany, and, although valued at only $16,875,000 (or one-third the amount in 1937), it continued the leading single export in 1938. In a number of recent years Germany has purchased a larger proportion of its imports of cotton elsewhere, especially from Brazil, and less United States cotton has reached the central European countries via the free ports of Hamburg and Bremen. The United States statistics of exports to Germany have always included goods consigned to these free ports and, consequently, have generally overstated the trade with Germany.

The decline in exports of cotton was intensified in 1938, and exports of passenger automobiles, lard, dried fruit, rosin, lumber, and numerous smaller items were only a fraction of their former totals.

However, exports of petroleum and petroleum products increased as compared with 1937 to a value of approximately $25,000,000, and as a group, were larger in value than cotton in 1938. Exports of copper increased from a value of approximately $10,000,000 in 1937 to nearly $15,000,000 in 1938. Corn and wheat, exports of which were small in the preceding year, amounted to over $12,000,000. The trade featured increases also in exports of metalworking machinery, motortrucks, iron and steel scrap, nonferrous metals used in the manufacture of iron and steel, and phosphate rock.

Import Commodities.

Approximately three-tenths of our imports from Germany in 1938 consisted of chemical products. Two main items were, as usual, potash and sodium compounds. Imports of chemical products valued at $18,642,000 were, however, almost one-third smaller in value in 1938 than in 1937. Chloride of potash fell off from a value of $6,668,000 in 1937 to $2,667,000 in 1938, and other potash material, as well as sodium compounds, decreased in value. A number of other imports, including edible gelatin, leather, sugar-beet seed, and wood pulp, decreased substantially, and imports of vegetable oils and gloves dropped to negligible figures in 1938.

The principal import showing an increase in quantity and value during 1938 was that of cameras. The value of camera imports from Germany rose from less than $2,000,000 in 1936 to $3,938,000 in 1937 and $4,322,000 in 1938.

Table 23.—Principal Commodities in Trade of the United States With Germany 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. Trade with Austria beginning May 6, 1938, and that with the Sudeten area, as far as ascertainable, beginning November 10, 1938, are included with the statistics for Germany.

Table 23.-Principal Commodities in Trade of the United States With Germany

162 Table 23.-Principal Commodities in Trade of the United States With Germany

Continued

1 Not shown separately.

2 Less than 500.

58, 531 14,876 13, 852 11,083

3 Figures for 1929 and 1932 have not been adjusted for minor transfers in classifications of later years. Ton of 2,240 pounds in 1929 and 1932; ton of 2,000 pounds, air-dry weight, 1937 and 1938.

(1)

75 7,027

52

(1)

(1)

948

541

5,593

(1)

(1)

798

647

3,094

1,467 544

430

3,290

1,525

1,765

1,761

In contrast with the reductions shown during both 1936 and 1937, United States exports to Greece in 1938 increased to $8,052,000, or 35 percent above the figure of $5,948,000 in 1937. Shipments of wheat reached over $2,000,000 in 1938, and there were increases also in other exports, including motortrucks, passenger automobiles, automobile tires, agricultural implements, electrical apparatus, and industrial machinery. Greek purchases of United States merchandise continued to be regulated by quotas, however; and notwithstanding the more liberal entries allowed in 1938, United States exports to Greece continued in 1938 much under the level of the 1920's. Shipments of wheat in 1938 were substantially smaller and exports of manufactured articles were somewhat smaller in value than in that earlier period, when the United States was the principal supplier of Greek imports. Germany and other countries of Europe were the principal suppliers of foreign merchandise to Greece in 1938, as in other recent years, though the United States share in Greek imports rose from 4 percent in 1937 to 7 percent in 1938.

Principal United States exports to Greece in 1938 were: Wheat, 2,153,000 bushels valued at $2,272,000 (623,000 bushels, $663,000 in 1937); machinery and vehicles at $2,710,000 ($1,563,000 in 1937),

190841-40- -6

of which automobiles, including trucks, parts, and accessories represented $1,206,000 ($698,000 in 1937); petroleum and products at $678,000 ($1,112,000 in 1937); metals and manufactures at $648,000 ($597,000 in 1937); automobile tires, 15,152 casings at $256,000 (15,426 casings, $250,000 in 1937); leather at $234,000 ($179,000 in 1937); and chemicals and related products, $262,000 ($277,000 in 1937).

In United States imports from Greece in 1938, cigarette leaf tobacco, as usual, far outranked all other commodities in importance. Less tobacco entered United States bonded customs warehouses in 1938 than in 1937, but greater amounts were withdrawn from warehouses than in the preceding year. Consequently, total general imports from

1901-1905 1906-1910 1911-1915 1916-1920 1921-1925 1926-1930 1931-1935 1936-19401
Figure 17.-Trade of the United States With Greece.

while

Greece declined from $17,234,000 in 1937 to $14,873,000 in 1938, the total imports for consumption increased from $12,569,000 in 1937 to $14,339,000 in 1938.

The increase in total imports for consumption was in part due to the higher valuation of the tobacco imported in 1938; the quantity of tobacco imported for consumption was slightly less than in 1937. Imports of olive oil were larger in quantity and in value than in 1937; but, since prices were lower, the value increase was smaller than the increase in quantity.

The quantity and value of principal United States imports (for consumption) from Greece in 1938 were as follows: Cigarette leaf tobacco, 19,547,000 pounds valued at $11,162,000 (19,758,000 pounds, $8,879,000 in 1937); edible olive oil, 6,717,000 pounds at $779,000 (1,964,000 pounds, $333,000 in 1937); inedible olive oil, 6,994,000 pounds at $518,000 (6,643,000 pounds, $731,000 in 1937); olives at $445,000 ($420,000 in 1937); currants, 3,649,000 pounds at $220,000 (4,870,000 pounds, $280,000 in 1937); cheese, 1,123,000 pounds at $176,000 (1,646,000 pounds, $257,000 in 1937); and chromite, 4,165 tons at $156,000 (9,449 tons, $275,000 in 1937).