HC Deb 26 November 1969 vol 792 cc394-5
4. Mr. Michael Shaw

asked the President of the Board of Trade what estimate he has made of the relationship between the size of the gross national product and the level of imports; how this compares with the relationship in other equivalent countries; and what evidence he has that this relationship is changing.

Mr. Mason

At current prices, our imports from 1958 to 1968 have varied between 14 and 16 per cent. of the gross national product. There is no discernible trend in the proportion, which is similar to that for the European Economic Community. In volume terms the proportion has risen, but more slowly than in all other comparable countries. With permission, I will publish figures in the OFFICIAL REPORT.

Mr. Shaw

I thank the right hon. Gentleman for the figures I am to receive. Is it the fear of a sudden rise in the ratio of imports that continues to prevent

TABLE A
IMPORTS AND G.N.P. AT CURRENT PRICES
Ratio of imports to G.N.P. at current market prices (per cent.)
Year United Kingdom Other EFTA countries EEC countries Canada United States Japan
1958 … … 14.6 22.6 14.9 15.4 3.0 7.9
1959 … … 15.0 22.8 14.6 16.0 3.3 8.6
1960 … … 16.0 24.6 14.9 15.3 3.0 8.7
1961 … … 14.7 24.6 14.5 15.3 2.9 9.1
1962 … … 14.2 24.0 14.4 15.3 3.0 7.7
1963 … … 14.2 23.6 15.0 15.2 3.0 8.5
1964 … … 14.9 24.5 15.0 15.9 3.1 8.2
1965 … … 14.1 24.4 15.2 16.5 3.3 7.6
1966 … … 13.8 23.9 15.5 17.4 3.5 7.6
1967 … … 14.1 23.5 15.0 17.6 3.5 7.8
1968* … … 16.1 23.2 15.6 18.4 4.0 7.3
1969 H.1 … … 16.0*
* Provisional estimates.
TABLE B
INCREASE IN IMPORTS AND G.N.P. AT CONSTANT PRICES, 1958 TO 1968
(Volume Index Numbers 1958 = 100)
United Kingdom Other EFTA countries EEC countries Canada United States Japan
Imports (1958=100) 174 220 to 272 257 to 328 209 237 433
G.N.P. (1958=100) 137 151 to 179 154 to 173 159 158 285
Ratio Imports/G.N.P. 1.27 1.36 to 1.80 1.56 to 1.91 1.32 1.51 1.52