HC Deb 08 March 1971 vol 813 cc8-9
7. Sir R. Russell

asked the Secretary of State for Trade and Industry what is the value in£ sterling at 1969 prices of New Zealand's exports to and imports from the United Kingdom for the years 1938 and 1968–69.

Mr. Anthony Grant

At current prices, exports£39 million and£177 million, imports£21 million and£119 million. No information at 1969 prices is available.

Sir R. Russell

Do not these figures show a substantial increase over the years in our trade with New Zealand, as distinct from percentage figures, which are very misleading but which have often been quoted? Would my hon. Friend bear these real figures in mind instead of the percentages?

Mr. Grant

There has, of course, been an increase, but since 1938 the pattern of trade has changed and the balance of trade which New Zealand does with other countries—for example, Japan, Australia and other Eastern countries—has increased very much more than her trade with us.

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