chapter  13
8 Pages

FURTHER INFLUENCES OF OFFICIAL POLICY ON THE TRADING SITUATION

Imports of all commodities from hard currency sources, as well as the import of certain commodities from other sources, are subject to specific controls (specific licences). At present, therefore, import controls or exchange controls substantially affect only American and Japanese goods, as well as flour, sugar, petroleum products, tinned meats and oils and fats from all sources. In 1949-50 these restrictions affected sources and commodities which in a reasonably prosperous pre-war year represented about 20-25 % of West African imports; as a result of relaxations in 1950 the corresponding proportion in the second half of that year was about 15-20 %. This applies to the pre-war pattern of the import trade; with free importation the proportion ofimports from these sources in recent years might have been higher.