HC Deb 22 May 1978 vol 950 cc400-1W
Mr. Marten

asked the Secretary of State for Trade what is (a) the trade deficit, on the basis of overseas trade statistics, expressed at a yearly rate, for the first four months of 1978 and (b) the deficit on invisibles for the same or nearest period with the EEC.

Mr. Meacher

The United Kingdom's crude trade deficit—exports fob less imports cif—with the EEC would be £2,481 million at an annual rate if the January to April figures, seasonally adjusted, are multiplied by three. No estimates of the invisible balance with the EEC are yet available for any part of 1978 but in 1977 the invisibles deficit is provisionally estimated at £477 million.