§ Mr. Teddy Taylor
asked the Secretary of State for Trade what were the main reasons for the substantial deficit in trade in manufactures with the EEC in the years 1977 to 1979 by comparison with the substantial surplus in such trade with the rest of the world.
§ Mr. Parkinson
[pursuant to his reply, 20 January 1981]: We are a multilateral trading nation, and differences in balances of trade with particular areas are to be expected. The composition of our trade with particular areas are to be expected. The composition of our trade with different areas varies, often considerably. Countries outside the Community provide a major market for our exports of manufacturers, while a large part of our imports from these countries consists of raw materials and fuels. It is not altogether surprising, therefore, that we have a large surplus on trade in manufactures with the non-Community countries.