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ANALYSIS OF EXPORTS
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As showing how the vitality of our exports has been nourished by Imperial markets during the last decade, let us first recall the figures given upon a previous page, and presenting a general view of the movement of our outward commerce during the last quarter of a century:


Total British Exports, 1880-1904, in Quinquennial Averages.
1880-1884. 1886-1889. 1890-1894. 1896-1899. 1900-1904.
Million £. Million £. Million £. Million £. Million £.
284·3 226·2 234·4 239·6 289·2


Almost the whole increase has been gained in the last five years only. Yes; but let us see how the various markets have contributed to that increase. The following table (from the 'Annual Statements') proves instructive:


Where British Trade has increased, 1895-1904.
A. Exports to Chief Protected Countries.
1895. 1896. 1897. 1898. 1899.
Mill. £. Mill. £. Mill. £. Mill. £. Mill. £.
Total exports  96·4  92·0  92·8  89·1 106·0
Coal and ships  9·5  9·5  10·5  11·0  16·8
  Net  86·9  82·5  82·3  78·1  89·2
Quinquennial net total : 419·0 mill. £.  Average : 83·8 mill. £.
1900. 1901. 1902. 1903. 1904.
Mill. £. Mill. £. Mill. £. Mill. £. Mill. £.
Total exports 119·5 100·7 103·5 104·7 102·7
Coal and ships  28·6  20·9  18·8  17·0  15·8
  Net  90·9  79·8  84·7  87·7  86·9
Quinquennial net total: 480·0 mill. £.  Average : 860 mill. £.

Increase in annual average—Absolute: 2·2 mill. £.  Relative: 2¾ per cent.