§ Mr. Austin Mitchellasked the Secretary of State for Trade and Industry what effect the exchange rate has had on the United Kingdom balance of trade in manufactures since the first quarter of 1979; and if he will publish a table in the Official Report showing exports of manufacturers as a percentage of imports for trade with the United States, the European Economic Community and West Germany together with the relative export prices in each case for each year since 1970 and the current year to date.
§ Mr. Alan ClarkThe balance of trade in manufactures depends upon many factors in addition to sterling exchange rates. The depreciation in the latter since 1979 has had a positive effect on the balance.
The statistical information requested is in the following table.
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United Kingdom Export-Import Ratios* United Kingdom Relative Export Prices† USA EC(10) FR Germany USA EC(10) FR Germany 1977 90 91 58 77 84 79 1978 94 83 54 87 88 81 1979 85 80 52 91 92 88 1980 70 89 61 100 100 100 1981 76 81 60 83 107 110 1982 75 74 51 73 101 101 1983 84 66 44 68 100 99 1984 84 68 49 64 101 104 1985 96 70 50 64 102 106e 1986‡ 110 64 46 n/a n/a n/a * United Kingdom exports of manufactures (fob) divided by United Kingdom imports of manufactures (cif) expressed as a percentage. † United Kingdom export unit value index for manufactures divided by the indices for the other countries named, all expressed in common currency. ‡ First Quarter. n/a =not available. Sources: United Kingdom Overseas Trade Statistics; United Nations.