English Translation

48 - 20 - exports of national income are 18% (in the Reich 6.5%). The share of manufactured goods in the export of the Protectorate is about 80%. Of the deliveries which go to areas outside the Protectorates, the German Reich already receives about 40%. From May to August, exports to clearing countries fell monthly from 278 million to 208 million kroner, to foreign-exchange-free countries from 263 million to 228 million  Kroner. Foreign-exchange demand exceeded the foreign-requirement by about twice as much in September as a result of substantial public contracts. In addition to purely political consequences of the customs union, the effects on external trade are determined by the need to amend the trade agreements of the Pro- tectorate, the subsequent monetary union and the change in domestic price and wage levels. The amendment of the trade agreements and trade agreements of the Protectorate resulting from the customs union entails a change from the free movement of foreign exchange to the clearing trade as a result of the transfer of the Reich's clearing agreements. This change is due to the protectorate, which has exported 51% of its exports to free foreign exchange countries, and in particular to the 5 firms which have a certain autonomy in foreign exchange;