Exports

HC Deb 27 July 1983 vol 46 cc1170-1

4. Mr. Knox

asked the Secretary of State for Trade and Industry what was the value of British exports for the most recent 12-month period for which figures are available.

The Minister for Trade (Mr. Paul Channon)

In the 12 months ended June 1983, exports amounted to £58,000 million.

Mr. Knox

What proportion of exports is attributable to the more realistic exchange rate that we have had since September 1982?

Mr. Channon

I am not in a position to quantify the effect of the exchange rate, but I think it is common ground in all parts of the House that the export figures represent a notable achievement by British exporters of which the House should be proud.

Miss Maynard

Is the Minister aware that for the first time in our industrial history we are importing more manufactured goods than we are exporting and that that is one of the achievements of the Government and of our membership of the Common Market? How do the Government propose to close the trade gap when North sea oil runs out?

Mr. Channon

The hon. Lady is not quite accurate. The stucture of the United Kingdom economy is naturally changing. We enjoy surpluses on our trade in oil and deficits on other commodities. It is important to recognise that demand for manufactures is growing in the United Kingdom this year. The output of manufacturing industry increased by 1 per cent. in the first quarter of 1983 and the May figure is the highest since October 1981.

Mr. Fallon

How many undertakings are in force by third countries on voluntary export restraints? Will my right hon. Friend place a summary of those undertakings in the Library?

Mr. Channon

If my hon. Friend will put down a question, I shall be happy to answer it.

Mr. Archer

Has the right hon. Gentleman noted that the pre-election optimism of the director general of the CBI has changed to a scream for panic measures? Does he agree with the director general that when North sea oil begins to run out the country will definitely be in decline? If he does not agree, will he repudiate the director general's call for the alleged remedy, which is said to be the cutting of a further 360,000 jobs in the public sector?

Mr. Channon

Fortunately, my responsibilities do not extend to the provision of jobs in the public sector. It is important for the House to realize—I am sure that it does—that in the 12 months ending June this year the United Kingdom exported £38 billion worth of manufactured goods. The hon. Gentleman's ridiculous talk of collapse is therefore very premature.