HC Deb 29 July 1983 vol 46 cc741-5W
Mr. Austin Mitchell

asked the Secretary of State for Trade and Industry whether he will publish in the Official Report a table showing the ratio of gross domestic product to inward and outward direct investment other than in oil as a percentage to two places of decimals for each year since 1960 for transactions with (a) the European Community, (b) the United States of America and (c) the rest of the world.

Mr. Norman Lamont

The figures are as follows:

Inward direct investment in the United Kingdom excluding oil expressed as a percentage of United Kingdom gross domestic product at current market prices
Per cent.
European Community‡ United States of America Rest of World World
1960 0.01 0.33 0.18 0.53
1961 0.07 0.68 012 0.87
1962 0.01 0.33 0.11 0.46
1963 0.03 0.35 0.15 0.53
1964 0.06 0.34 0.09 0.49
1965 0.04 0.42 0.09 0.55
1966 0.03 0.41 0.08 0.51
1967 0.13 0.23 0.06 0.42
1968 0.06 0.48 0.09 0.63
1969 0.07 0.44 0.18 0.69
1970 0.12 0.44 0.15 0.71
1971 0.07 0.50 0.22 0.79
1972 0.07 0.42 0.15 0.64
1973 0.15 0.54 0.32 1.01
1974 0.09 0.49 0.44 1.03
1975 0.09 0.30 0.20 0.59
1976 0.14 0.44 0.06 0.64
1977 0.19 0.44 0.29 0.92
1978 0.18 0.49 0.10 0.76
1979 0.13 0.52(0.67)‡ 0.28 0.93(1.08)‡
1980 0.07 0.76(0.62)‡ 0.31 1.14(l.00)‡
1981 0.03 0.02(0.32)‡ 0.32 0.36(0.65)‡
*1982 n/a n/a n/a 0.42
* Provisional.
‡ Figures in brackets are after excluding loans given by United Kingdom subsidiaries to their United States rarent companies.
‡ Includes Denmark and Irish Republic in all years.

Table 1
Flows of direct investment excluding unremitted profits and oil companies between United Kingdom and the European Community (3)
£ million
Inward direct investment in United Kingdom United Kingdom direct investment overseas
Share and loan capital (1) Inter-company and branch-head office accounts Share and loan capital (1) Inter-company accounts Branch-head office accounts
Acquisitions Disposals (2) Acquisitions Disposals (2) (2)
1970 Manufacturing 8.7 20.3 26.8 -0.8 0.2
Non-manufacturing 22.1 -1.4 17.2 -7.1 4.5
1971 Manufacturing 15.3 1.2 65.2 73.8 -0.3
Non-manufacturing 6.9 -4.5 18.1 62.7 -2.6
1972 Manufacturing 6.8 -12.0 71.6 -14.2 0.5
Non-manufacturing 14.4 1.2 61.0 10.9 25.8
1973 Manufacturing 44.1 -16.0 130.5 39.8 0.6
Non-manufacturing 44.5 17.9 183.9 12.6 10.6
1974 Manufacturing 21.6 -5.2 56.4 17.0 1.8
Non-manufacturing 27.4 0.2 63.5 19.9 60.4
1975 Manufacturing 9.6 19.2 36.5 -10.2 -0.3
Non-manufacturing 2.7 18.3 53.1 -24.2 1.2
1976 Manufacturing 62.3 -4.3 99.6 -16.3 1.2

United Kingdom outward direct investment overseas excluding oil expressed as a percentage of United Kingdom gross domestic product at current market prices
Per cent.
European Community† United States of America Rest of World World
1960 0.11 0.06 0.81 0.98
1961 0.12 0.08 0.64 0.83
1962 0.12 0.04 0.58 0.73
1963 0.17 0.04 0.57 0.78
1964 0.13 0.09 0.57 0.79
1965 0.13 0.06 0.67 0.87
1966 0.12 0.11 0.49 0.73
1967 0.10 0.13 0.48 0.70
1968 0.18 0.19 0.57 0.94
1969 0.27 0.11 0.79 1.18
1970 0.18 0.26 0.62 1.07
1971 0.50 0.22 0.45 1.18
1972 0.38 0.17 0.61 1.16
1973 0.71 0.52 0.99 2.22
1974 0.44 0.48 0.98 1.90
1975 0.16 0.23 0.73 1.12
1976 0.40 0.30 1.02 1.72
1977 0.27 0.32 0.73 1.31
1978 0.35 0.58 0.71 1.64
1979 0.01 0.83 0.60 1.44
1980 0.21 0.79 0.52 1.52
1981 0.33 0.96 0.77 2.06
*1982 n/a n/a n/a 0.97
* Provisional.
† Includes Denmark and Irish Republic in all years.

Mr. Austin Mitchell

asked the Secretary of State for Trade and Industry whether he will publish in the Official Report a table showing for manufacturing and non-manufacturing transactions with the European Community, the United States of America and the rest of the world each year since 1970 the amount of inward and outward direct investment by companies other than oil companies which consisted of (a) acquisitions of share and loan capital, (b) disposals of share and loan capital, (c) short-term loans and trade credit given and (d) short-term loans and trade credit received.

Mr. Norman Lamont

The available information is given in the following tables:

Inward direct investment in United Kingdom United Kingdom direct investment overseas
Share and loan capital (1) Inter-company and branch-head office accounts Share and loan capital (1) Inter-company accounts Branch-head office accounts
Acquisitions Disposals (2) Acquisitions Disposals (2) (2)
Non-manufacturing 20.0 24.8 48.8 66.2 14.3
1977 Manufacturing 52.1 -11.4 -12.0 169.2 0.7
Non-manufacturing 52.5 42.2 68.5 -57.1 4.4
1978 Manufacturing 75.4 32.8 114.4 76.6 0.7
Non-manufacturing 26.6 61.1 69.4 66.8 47.0
1979 Manufacturing 39.0 2.5 41.4 156.6 37.8 -229.6 4.3
Non-manufacturing 40.9 6.4 -14.1 121.5 74.1 -270.2 41.0
1980 Manufacturing 48.4 — -14.8 263.5 85.3 -150.9 -2.4
Non-manufacturing 76.7 14.4 62.5 287.0 28.9 -30.0 25.2
1981 Manufacturing 101.9 4.3 42.0 122.8 14.6 237.4 7.8
Non-manufacturing * * * * * * *
* Figures not supplied.

Table 2
Flows of direct investment excluding unremitted profits and oil companies between United Kingdom and the United States of America
£ million
Inward direct investment in United Kingdom United Kingdom direct investment overseas
Share and loan capital (1) Inter-company and branch-head office accounts Share and loan capital (1) Inter-company accounts Branch-head office accounts
Acquisitions Disposals (2) Acquisitions Disposals (2) (2)
1970 Manufacturing 53.2 26.4 67.5 3.5 -0.4
Non-manufacturing 6.9 2.5 15.7 -6.3 10.9
1971 Manufacturing 91.2 52.7 28.0 8.0 1.4
Non-manufacturing 12.6 -2.2 29.9 -2.7 14.9
1972 Manufacturing 59.7 -46.1 18.8 -9.2 -2.8
Non-manufacturing 13.5 21.5 -0.5 15.3 16.1
1973 Manufacturing 77.1 34.7 83.2 108.2 -0.5
Non-manufacturing 3.4 7.0 48.0 14.4 12.2
1974 Manufacturing 127.4 35.8 78.6 80.8 -2.7
Non-manufacturing 82.8 -4.4 127.7 -14.3 23.1
1975 Manufacturing 46.2 57.6 65.1 23.1 0.3
Non-manufacturing -10.5 53.0 8.1 2.7 13.3
1976 Manufacturing 76.9 39.9 164.0 -5.5 -2.3
Non-manufacturing 24.3 -18.4 16.5 -5.7 6.1
1977 Manufacturing 85.0 25.5 175.7 -49.2 -9.4
Non-manufacturing -43.0 -12.8 93.1 19.1 -1.9
1978 Manufacturing 109.0 164.0 622.0 -28.8 12.9
Non-manufacturing -29.0 -8.5 93.6 -34.5 23.3
1979 Manufacturing 75.8 145.0 30.6 399.8 4.0 113.8 7.0
Non-manufacturing 35.7 14.0 134.3 672.6 9.3 3.2 20.9
1980 Manufacturing 120.7 1.9 499.4 503.3 54.1 .. ..
Non-manufacturing 221.1 2.1 217.6 842.0 14.6 .. ..
1981 Manufacturing 78.5 50.3 -783.4 581.7 47.9 .. ..
Non-manufacturing 194.6 54.1 -61.3 1,044.5 26.5 .. ..

Table 3
Flows of direct investment excluding unremitted profits and oil companies between United Kingdom and the rest of the world excluding the European Community and United States of America
£ million
Inward direct investment in United Kingdom United Kingdom direct investment overseas
Share and loan capital (1) Inter-company and branch-head office accounts Share and loan capital (1) Inter-company accounts Branch-head office accounts
Acquisitions Disposals (2) Acquisitions Disposals (2) (2)
1970 Manufacturing 17.6 -16.0 17.8 6.4 -1.7
Non-manufacturing 23.4 19.0 52.5 5.5 12.7
1971 Manufacturing 3.4 29.7 4.2 33.2 -6.1
Non-manufacturing 26.2 33.5 83.5 -67.2 2.3
1972 Manufacturing 14.2 -35.5 24.2 -1.6 7.8
Non-manufacturing 40.2 25.8 22.1 4.9 21.0
1973 Manufacturing 35.5 7.2 9.9 16.5 -11.6
Non-manufacturing 141.6 -6.9 107.1 -6.5 22.0
1974 Manufacturing 39.9 80.1 8.2 103.8 -0.1
Non-manufacturing 178.0 19.1 46.4 12.4 41.8
1975 Manufacturing 75.0 -17.4 56.2 -24.3 -12.0
Non-manufacturing 108.9 5.7 82.2 -19.4 40.3
1976 Manufacturing 6.1 -24.9 96.3 48.8 -25.0
Non-manufacturing 62.6 -11.3 60.2 38.1 85.4

Inward direct investment in United Kingdom United Kingdom direct investment overseas
Share and loan capital (1) Inter-company and branch-head office accounts Share and loan capital (1) Inter-company accounts Branch-head office accounts
Acquisitions Disposals (2) Acquisitions Disposals (2) (2)
1977 Manufacturing 46.7 7.5 59.8 73.1 4.5
Non-manufacturing 27.0 217.2 88.2 -155.5 122.1
1978 Manufacturing -21.5 6.1 2.9 51.5 8.2
Non-manufacturing 68.4 56.3 90.5 125.2 108.5
1979 Manufacturing 52.8 31.2 74.2 195.8 94.1 -6.1 -18.9
Non-manufacturing 71.0 7.5 121.7 165.4 189.5 38.6 133.8
1980 Manufacturing 142.8 123.3 265.0 67.3 98.5 .. ..
Non-manufacturing 285.1 102.3 54.7 150.5 113.7 .. ..
1981 Manufacturing 236.0 — -11.6 92.8 79.2 .. ..
Non-manufacturing 131.2 19.6 326.5 554.0 255.9 .. ..