§ Mr. Sainsburyasked the Minister for Trade what recent assessment he has made of the value of the distributive trades to the economy; and whether he will make a statement.
§ Mr. SproatI regard it as of great importance that the value of the distributive trades to the economy should be acknowledged fully. It is being realised increasingly that providing goods makes no inherently greater contribution
£ million Balance of Payment basis Seasonally adjusted Visible Trade Invisibles Current Account Exports Imports Balance Credits Debits Balance Total Credits Total Debits Balance 1971 9,043 8,853 +190 5,697 4,763 +934 14,740 13,616 +1,124 1972 9,437 10,185 -748 6,300 5,305 +995 15,737 15,490 +247 1973 11,937 14,523 -2,586 8,506 6,901 +1,605 20,443 21,424 -981 1974 16,394 21,745 -5,351 10,511 8,433 +2,078 26,905 30,178 -3,273 1975 19,330 22,663 -3,333 11,467 9,655 +1,812 30,797 32,318 -1,521 1976 25,191 29,120 -3,929 15,000 11,952 +3,048 40,191 41,072 -881 1977 31,728 34,012 -2,284 16,788 14,545 +2,243 48,516 48,557 -41 1978 35,063 36,605 -1,542 18,964 16,477 +2,487 54,027 53,082 +945 1979 40,687 44,136 -3,449 23,612 21,099 +2,513 64,299 65,235 -936 1980 47,396 46,211 +1,185 25,698 23,750 +1,948 73,094 69,961 +3,133 1981 N/A N/A N/A 29,531 26,060 +3,471 N/A N/A N/A Note: Visible trade figures for 1981 have been delayed by the Civil Service dispute. Import figures will be published on Monday 2 August. It is not yet known when the export figures will be available.