Overseas Trade Figures

HC Deb 25 November 1987 vol 123 c210W

23. Mr. Henderson

To ask the Chancellor of the Duchy of Lancaster what are the implications for the economy of the October overseas trade figures.

Mr. Alan Clark

Figures for visible trade for the year to October 1987 show deficits of £5.5 billion in manufactured goods and £5.5 billion in other non-oil goods and a surplus of £3.5 billion in oil. Current estimates of invisible trade indicate a surplus of £6.5 billion for the year to October. Thus the balance on current account is a deficit of £1.1 billion. These figures are broadly consistent with the estimates for the year 1987 given in the Chancellor of the Exchequer's Autumn Statement.