HC Deb 15 February 1966 vol 724 c213W
94. Sir C. Osborne

asked 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. Mason

The 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.