2. Mr. Chapman asasked the Minister for Trade if he will give the change in value and volume in exports, and the movement in the visible balance of trade, over the last three years.
§ The Minister for Trade (Mr. Peter Rees)In the three years ending 1980, which was the last year for which complete data are available, exports rose by 49 per cent. in value and 8 per cent. in volume. The visible balance of trade moved from a deficit of £2.3 billion to a surplus of £1.2 billion. With permission, I shall circulate the detailed figures in the Official Report.
§ Mr. ChapmanI am grateful to my hon. and learned Friend for those figures. Does he agree that they are especially encouraging in view of the deep world
| Exports and the Visible Balance | ||||||
| Balance of Payments Basis | ||||||
| Exports | Visible balance | |||||
| Value | Percentage increase | Volume Index | Percentage increase | Value increase | ||
| £ million | (year on year) | 1975 = 100 | (year on year) | £ million | ||
| 1977 | 31,728 | — | 118.4 | — | -2,284 | — |
| 1978 | 35,063 | +11 | 121.5 | +2½ | -1,542 | +742 |
| 1979 | 40,687 | +16 | 125.7 | +3½ | -3,449 | -1,907 |
| 1980 | 47,396 | +16 | 128.0 | +2 | +1,185 | +4,634 |