HC Deb 14 December 1983 vol 50 cc484-5W
Mr. Gould

asked the Secretary of State for Trade and Industry what was the trade deficit with the EC on manufactures less precious stones in October 1983 at an annual rate; and what was the corresponding figure for visible trade less oil and precious stones.

Mr. Alexander Fletcher

The crude deficit on trade in manufactures less precious stones with the other countries of the European Community in October 1983 was, at an annual rate, £9.4 billion; the corresponding figure for total visible trade excluding oil and precious stones was £11.5 billion.

Because of the variability of trade figures from month to month, estimates of the balance based on annualised data are particularly unreliable.

1970 and 1982. Mr. Gould

asked the Secretary of State for Trade and Industry what was the annual average rate of increase in the EC share of United Kingdom imports and exports of manufactures between (a) 1958 and 1970 and (b)

Mr. Alexander Fletcher

The average annual rate of change for exports was +4.3 per cent. between 1958 and 1970, and +2.1 per cent. between 1970 and 1982. The equivalent figures for imports were —0.4 per cent. and +3.7 per cent. respectively.

Mr. Gould

asked the Secretary of State for Trade and Industry what was the ratio of exports to imports of manufactures from the European Community in October 1983 compared to 1970.

Mr. Alexander Fletcher

In October 1983 the ratio was 65 per cent. and in the year 1970 131 per cent. Both figures are derived from trade data on the "Overseas Trade Statistics" basis which slightly understates the ratio.