§ 6. Mr. Peter Walkerasked the President of the Board of Trade why British exports to the European Economic Community decreased in the first six months of 1965 as compared with the same period in 1964, in view of the fact that those of the other European Free Trade Association countries increased.
§ Mr. JayTo a large extent probably because of differences in the composition of our trade. But it would be unwise to draw any conclusions from so short a period as six months.
§ Mr. WalkerIs the President of the Board of Trade not concerned that we are the only E.F.T.A. country whose exports to the Common Market were reduced? Is he aware that this is the first time during a six-month period that our exports to the Common Market have gone down?
§ Mr. JayWe cannot yet say precisely why this one section of our trade moved this way in this period. On the face of it, it looks as though it might have been due to the fact that coal and sugar, whose prices went down during the period, played a large part in our exports.