§ Sir Frederic Bennett
asked the Secretary of State for Trade if he will provide balance of trade figures for 1974 or other recent available period in regard to 301W exports and imports vis-à-vis the United Kingdom and South Africa, Chile, Brazil, Turkey, China, the USSR, Czechoslovakia and Poland, respectively.
§ Mr. Deakins
Balance of trade figures are not available with individual countries on a balance of payments basis. The crude trade deficit with each of these countries in 1974 can be obtained from figures of imports cif and exports fob in Tables II and V respectively in the December 1974 issue of the monthly Overseas Trade Statistics. The crude trade deficit—the difference between imports cif and exports fob—is not a good measure of the balance of trade in goods because,inter alia, of difference in valuation.