§ Mr. LAMBERT
asked the President of the Board of Trade what was the total value and total volume of British imports and exports for the years 1913, 1920, and 1921; what was the estimated amount of the invisible exports, specifying the chief items; and what was the approximate net trade balance for each year, respectively?592W
§ Sir W. MITCHELL-THOMSON
The following table shows the total value of the imports into, and exports from, the United Kingdom in the years specified in the question, and also the estimated value of the goods imported and exported in 1920 and 1921, calculated at the average values recorded for goods of the same class in 1913:
Year. Imports of Merchandise. Exports of Merchandise. British. Foreign and Colonial. Thousand Thousand Thousand £ £ £ 1913 768,736 525,254 109,567 1920(a) 1,932,649 1,334,463 222,753 (b) 679,274 372,476 98,909 1921(a) 1,086,687 703,196 107,052 (b) 570,912 261,647 86,127 (a) Values as declared. (b) Values on the basis of 1913 prices.
The imports and exports of bullion and specie as recorded for the three years were:
— Imports. Exports. Excess of Imports (+) or of Exports (-). £ £ £ 1913 74,029,000 62,142,000 (+)11,887,000 1920 60,601,000 104,058,000 (-)43,457,000 1921 59,959,000 71,394,000 (-)11,435,000
Rough estimates have been prepared by my Department of the net balance of other payments due to, or by, the United Kingdom, such as interest on investments, earnings of shipping, etc., etc., in the years 1913 and 1920. The resulting figures are £340,000,000 for 1913, and £500,000,000 for 1920. I am not prepared to furnish a corresponding estimate for 1921, the data available being too uncertain to justify even an approximate estimate.