Trade Balance in Palestine, By Principal Countries, 1939 And 1945, Value of Imports For Four Main Classes of Commodities between 1937 to 1944 before 1948 (Nakba), British Mandate: A Survey of Palestine: Volume I - Page 465. Chapter XIII: Section 2: Foreign Trade of Palestine

CHAPTER XIII.

the maintenance of troops etc. in Palestine in the war years. It is not yet possible to furnish figures of expenditure by the military authorities during the years 1940 to 1944 in the course of which substantial imports of funds took place. Even before the war, however, it can he seen that the adverse balance of recorded trade was more than covered by the remittances described above. Thus in the six years 1934 to 1939 the adverse visible balance amounted to approximately £P.57 million while remittances referred to amounted to £P.59 million.

67. The international distribution of Palestine's adverse balance of recorded trade has shown wide variations from year to year. Up to 1939 the distribution was greatly influenced by the sources of Jewish immigration apart from the constant importance of the United States as the main source of contributions to Jewish institutions. Since that year there has been a complete change in the importance of the countries engaged in trade with Palestine. On the one hand, the war-time allocation of loading areas for many imported commodities, principally foodstuffs, altered the sources of supply. On the other hand, the refining of petroleum which commenced at the Haifa refineries at the end of 1939 made Palestine a large importer of crude oil and an exporter of refined products. A further important factor arises from the creation of the diamond industry in Palestine during the war years.

The following table compares the trade balance with the main countries for the years 1039 and 1944 :-

TRADE BALANCE, BY PRINCIPAL COUNTRIES, 1939 AND 1944.

68. Imports. - "Imports" comprise all commodities entered for consumption in Palestine. The term "imports for consumption" does not necessarily imply that the goods have actually been consumed in Palestine, but that they have passed into the possession of the importer and that the duty (if any) has been paid thereon.
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*Figures for the trade with Trans-Jordan were not available prior to July, 1941.

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