§ Mr. Austin MitchellTo ask the Chancellor of the Duchy of Lancaster whether he will publish for 1958,1969, 1977, 1987 and the current year to date at an annual rate(a) the United Kingdom and (b) West German balance of trade in manufactures with each of the EEC countries, and the real rate of exchange between sterling and the deutschmark in nominal and real terms based on relative export unit values in 1975.
§ Mr. Alan ClarkThe available information is in the following table:
§ Mr. Alan ClarkData on export and import unit values are not available for United Kingdom trade analysed by area. The information requested is therefore not available.
§ Mr. Austin MitchellTo ask the Chancellor of the Duchy of Lancaster whether he will publish in theOfficial Report a table showing for each year since 1978 gross and net investment in manufacturing per head of the population in the United Kingdom, the United States of America, Japan, France, Italy and Germany.
§ Mr. MaudeComparable figures for OECD countries over this period are not available. Available information is contained in the publication "OECD National Accounts 1973–85".
§ Mr. Austin MitchellTo ask the Chancellor of the Duchy of Lancaster whether he will publish an updated table showing various indices of competitiveness and the relative volume of trade in manufactures in the manner of the written reply of 22 October, 1979,Official Report, columns 56–60, together with a column showing the relative value of trade in manufactures with the EEC.
§ Mr. Alan ClarkCompetitiveness indices are published in table F3 of the "Monthly Review of External Trade Statistics and Annual Supplement." The other data requested are in the following table.
639W
Terms of trade in manufactures Relative volume of trade in manufactures 1980=100 Relative value of trade in manufactures with EC countries 1975 90 128 98 1976 86 128 102 1977 89 126 103 1978 92 112 93 1979 96 98 90 1980 100 100 100 1981 102 96 91 1982 101 90 84 1983 100 79 75 1984 100 78 76 1985 101 79 78 1986 103 77 76 1987 103 76 79
§ Mr. Austin MitchellTo ask the Chancellor of the Duchy of Lancaster whether he will publish in theOfficial Report a table showing the relative volume of United Kingdom exports to imports of manufactures from the United States of America and Germany, respectively, together with relative export prices based on 1975=100.
§ Mr. Alan ClarkThe information about relative export prices is available in the "Monthly Review of External Trade Statistics." Information is not available for the relative volume of United Kingdom trade by country.
§ Mr. Austin MitchellTo ask the Chancellor of the Duchy of Lancaster (1) whether he will publish in theOfficial Report a table showing for each year since 1970 imports of manufactured less precious stones from the EEC as a percentage of the United Kingdom market for manufactures and United Kingdom exports of manufactures less precious stones as a percentage of the EEC market for manufactures;
(2) whether he will publish in the Official Report a table showing for 1958, 1968 and each year since 1970 the European Economic Community share of United Kingdom exports and imports of manufactures less precious stones;
(3) whether he will publish in the Official Report a table showing for 1958, 1968, 1978 and 1987 the United Kingdom share of European Economic Community imports of manufactures.
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United Kingdom overseas trade with EC and non-EC countries1 Balance of payments basis Balance £ Billion Ratio of exports to imports, percentage Manufactures2 Non fuel goods2 Manufactures2 Non fuel goods2 EC Non EC EC Non EC EC Non EC EC Non EC 1970 +0.6 +1.9 +0.2 +0.3 143 168 108 105 1971 +0.4 +2.6 -0.1 +1.0 123 191 97 119 1972 +0.1 +2.1 -0.5 +0.4 102 162 86 108 1973 -0.4 +1.9 -1.2 -0.4 90 139 76 95 1974 -0.5 +2.5 -1.9 -0.0 90 140 74 100 1975 -0.6 +4.3 -2.2 +2.0 90 167 73 119 1976 -0.5 +5.4 -2.0 +2.1 94 167 81 116 1977 -0.5 +6.7 -2.0 +2.6 95 167 85 116 1978 -1.7 +6.8 -2.9 +3.5 86 163 81 121 1979 -2.6 +5.3 -4.0 +1.6 83 140 80 108 1980 -1.2 +6.6 -2.1 +3.6 92 147 89 118 1981 -2.6 +7.2 -4.0 +4.6 84 150 80 123 1982 -4.3 +6.7 -6.0 +4.3 77 142 75 119 1983 -7-.2 +4.9 -9.2 +2.1 69 125 68 108 1984 -8.1 +4.2 -10.5 +0.8 70 118 69 102 1985 -8.7 +5.7 -11.2 +2.5 72 123 70 108 1986 -10.1 +4.6 -12.8 +1.6 70 118 69 105
§ Mr. Alan ClarkData excluding trade in precious stones are not readily available. The available information on the United Kingdom share of EC imports is published in table E3of annual supplement of the "Monthly Review of External Trade Statistics." Data on the shares of United Kingdom imports and exports of manufactures accounted for by the other member states of the EC are in the following table:
Shares of United Kingdom international trade accounted for by other EC countries, per cent. Balance of payments basis Year Exports Imports 11958 19 36 11968 29 34 1970 31 35 1971 30 39 1972 32 42 1973 33 44 1974 35 46 1975 32 47 1976 35 49 1977 36 50 1978 37 53 1979 41 54 1980 40 52 1981 38 52 1982 39 54 1983 40 54 1984 40 53 1985 42 55 1986 44 57 1987 46 56 1Overseas Trade Statistics basis.
§ Mr. Austin MitchellTo ask the Chancellor of the Duchy of Lancaster whether he will publish in theOfficial Report a table showing for each year since 1970 and 1988 to date the United Kingdom visible trade balance in (a) manufactures less precious stones and (b) total trade less fuels and precious stones with the EEC and with the rest of the world, together with the export-import ratios in each case.
§ Mr. Alan ClarkInformation excluding data for trade in precious stones is not readily available. The available information is in the following table:
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Balance £ Billion Ratio of exports to imports, percentage Manufactures2 Non fuel goods2 Manufactures2 Non fuel goods2 EC NonEC EC NonEC EC NonEC EC Non EC 1987 -10.2 +3.0 -13.3 +0.5 73 110 72 101 1988 first quarter -3-.2 -0.4 -4.0 -1.0 69 94 68 90 1Data for 1970 to 1987 are classified to SITC (Rev. 2). 2 Data for 1988 are classified to SITC (Rev. 3).
§ Mr. Austin MitchellTo ask the Chancellor of the Duchy of Lancaster what is the change in the volume of exports of finished manufactures in(a) the latest three months and (b) the fourth quarter of 1987; what assessment he has made of the causes of this change; and what further change he expects as a result of the increase in the real value of the pound sterling since the fourth quarter of 1987.
§ Mr. Alan Clark[holding answer 28 July 1988]: The volume of exports of finished manufactures increased by 7 per cent, between the first and second quarters of 1988. For the third and fourth quarters of 1987 the increase was 3 per cent.
There are many factors, as well as relative prices, which influence changes in the volume of United Kingdom exports, such as the growth in the world economy and the success of United Kingdom industry in producing goods which, in design, quality and marketing, meet the requirements of world markets.
§ Mr. Austin MitchellTo ask the Chancellor of the Duchy of Lancaster what is his estimate of the effect of an increase of 10 per cent, in the real exchange rate on United Kingdom imports and exports of manufactures.
§ Mr. MajorI have been asked to reply.
United Kingdom manufacturing trade performance depends on many factors other than just the exchange rate. The effects of changes in cost or price competitiveness build up over a period of years, and may well be dominated by changes in non-price competitiveness.