Business & Finance: Latin-American Trade

The first conclusion reached after the disastrous crash of our overambitious plans for foreign trade in 1920, was that we had best stick to domestic trade and write our foreign efforts off as a War delusion. Yet the recent marked gain in both our imports and exports with Latin America goes to show that something substantial has survived the 1919-20 boom.

Our total trade in Latin America in 1923 amounted to $1,743,919,000—$1,030,292, in imports and $693,627, in exports. The gain over 1922 in exports was 25%, that in imports 23%.

In the field of imports, it is significant that American factories are becoming dependent upon imported raw materials like rubber or hemp. Foreign foodstuffs like sugar or coffee are also notable items of import.

The most striking gain in our exports to Latin America was in automobiles; other large items were naval stores, cotton hosiery, building lumber, petroleum, and its products, tin plate, wire nails, machines for sewing, printing, adding and harvesting. Motion picture films are also on the increase among our exports.

While America has deflated the overexpanded foreign business of four years ago, the latter has gained stability and permanence, and is now holding its own in a sound manner.