§ 95. Mr. Bingasked the President of the Board of Trade the proportion and the volume of total exports covered by export credit guarantees for the financial years 1946–47, 1947–48, 1948–49, 1949–50 and 1950–51; and what is the proportion estimated for the current financial year.
§ Mr. P. ThorneycroftShipments declared under Export Credit Guarantee Department policies for the financial year 1950–51 represented 12.6 per cent. of the total value of United Kingdom exports and re-exports during the period74W and that the comparable figure for the current financial year is estimated to be of the order of 15 per cent.
The proportion of the total value of United Kingdom exports and re-exports and the value of exports covered by export credit guarantees in recent years are as follows:
Year Proportion of total exports Value of Shipments declared under E.C.G.D. policies (1) (2) (3) Per cent. £ million 1946–47 … 8.0 82.9 1947–48 … 8.3 108.3 1948–49 … 9.6 168.6 1949–50 … 11.5 217.9 1950–51 … 12.6 295.4 Shipments declared in the period April-December, 1951, totalled £307.4 million representing 14.7 per cent. of the total value of United Kingdom exports and re-exports during the period. It is estimated that for the current financial year the proportion will be of the order of 15 per cent.
(a) The figures in Column (2) cover transactions declared where the goods can be regarded as United Kingdom exports or re-exports. Transactions falling under the cover of the external trade type of guarantee are not included, although some may actually be routed through, the United Kingdom and would count as a re-export and therefore would tend to increase the proportion guaranteed.
(b) The figures for the years 1946–1950 cover only business declared under facilities of the type falling under the cover afforded by Section I of Export Guarantees Act, 1949.
(c) The figures for 1950–1951 and April, 1951–December, 1951, include in addition, business declared under Section II of the Export Guarantees Act, 1949.