The heavy flow of capital to Palestine is chiefly the result of great expansion in immigration to that country and the great strides made in agriculture, the Ministry of Foreign Trade reported today.
The rising immigration, the report points out, is tending to increase 1935 imports to Palestine which are likely to exceed the figures recorded for the previous year. Business has been brisk and the failures few and unimportant, according to the report.
Values of exports and imports in 1934 almost tripled those of 1931, the report states, while revenue approximately doubled. Imports to Palestine in 1931 totalled #5,940,000, whereas the 1934 figure was #15,150,000. Exports were valued at #1,570,000 in 1931 as against #3,220,000 last year, Revenue last year amounted to #5,452,633 as against #2,334,000 in 1931.
As long as immigration continues to increase, the report points out, there is no reason for apprehension with respect to the annual adverse trade balance of #10,000,000.
The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
