§ Mr. Eidon Griffithsasked the Chancellor of the Exchequer what is his estimate of the value of British invisible exports to South Africa; and what were the major components of these services in the period 1970 to 1975.
§ Mr. Denzil DaviesI regret that such an estimate is not available. There are considerable practical difficulties in determining how to attribute many transactions to individual countries; also, commercial records, on which the global estimates for the balance of payments are based, are often not maintained on a country basis. However, a country analysis of two components of invisible exports—direct investment earnings and travel—is published in Business Monitors M4, Overseas Transactions, 1973, and M6, Overseas Travel and Tourism, 1974. respectively.