HC Deb 10 April 1975 vol 889 c475W
Mr. Sproat

asked the Secretary of State for Trade which sectors of trade with Community countries showed the worst deterioration in 1974 when compared with 1973.

Mr. Shore

The "crude" balance of trade with the EEC(8)—that is, exports f.o.b. less imports c.i.f.—worsened by £1,047 million between 1973 and 1974. The major commodity groups contributing to this deterioration are given in the following table:

Change in crude trade balance with EEC(8) between 1973 and 1974
£ million
Total trade 1,047
of which
Meat and meat preparations(Division 01, SITC(R)) 101
Dairy products and eggs (Division02, SITC(R)) 140
Cereals and cereal preparations(Division 04, SITC(R)) 156
sugar preparations and honey (Division 06, SITC(R)) 65
Mineral fuels, lubricants and and related materials (Section 3, SITC (R)) 166
Plastic materials, regenerated cellulose and artificial resins (Division 58, S1TC (R)) 81
Iron and steel (Division 67,SITC (R)) 220

The crude balance is not the best measure of the balance of trade in goods because, inter alia, of differences in valuation. However, figures on a balance of payments basis are not available.

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