§ 94. Sir C. Osborneasked the President of the Board of Trade what are the terms of trade to the most recent convenient date as compared with 1954; and on what data or formula they are calculated.
§ Mr. MasonThe terms of trade in 1965 were 17 per cent. higher than in 1954. They are obtained by expressing the export unit value index as a percentage of the import unit value index; the calculation of these indices was explained in detail in Economic Trends for September, 1963.