174 IRON AND STEEL IN BRITAIN

smaller during the European War, they recovered between 1920
and 1930, although they did not attain the pre-war level as shown
in the following table:

TABLE 59

UNITED KINGDOM: EXPORTS OF MACHINERY

Total Value per Ton

Tear ooo Tons £ $. d.

1905 545 42 I0 o

1910 655 44 10 o

1913 745 49 10 o

1920 460 137 o o

1925 514 94 10 o

1929 613 96 o o

In 1913 British exports of machinery were slightly greater than
those of Germany, with the U.S.A. closely following, but the value
per ton was least in Britain. In 1925 Britain did not export two-
thirds the quantity of machinery exported by the U.S.A., nor four-
fifths the exports of Germany. This may have been the result of our
relative failure in mass production or due to the fact that price, not
quality, is the dominant factor in international trade. Both the
U.S.A. and Germany exported more metal working machinery than
Britain. Exports as a percentage of output and world trade are
given below:

TABLE 60

Output as per cent of Exports as % of Exports as% of

World World Output

U.S.A. 50 57-6 26-8 34-8 10 10

Germany n-8 13-6 28-4 24-4 45 29-8

Great Britain 20*6 13*1 29-0 20-0 26-4 25*3

Others 17*6 15-1 15-0 20-8 16-7 22*1

100*0 xoo-o too'O roo'O roo'O 100-0

MACHINERY EXPORTS

Value per ton
Tear Britain Germany France

'9*3 £49-12 £52'0 £53-0
£88-9 £67*5
1930