§ Mr. Worthington
To ask the Chancellor of the Exchequer which sectors of the British economy were in balance of payments surplus in 1979 and for the latest available date.
§ Mr. Mellor
[holding answer 16 January 1991]: Industrial sector data of imports and exports on a balance of payments basis are normally available only for years in which input-output tables are compiled. Input-output tables exist for 1979 and 1984, and a simple update of 1984 to 1985 was carried out. For these years, the energy and services industrial sectors were in balance of payments surplus. The table gives the relevant data for these and the other main sectors of the economy.604W
Exports less imports of goods and services by industrial sector, on a balance of payments basis £ billion 1979 1984 1985 Agriculture -1.8 -1.2 -2.3 Energy -1.5 +5.9 +6.9 Manufacturing -3.7 -15.3 -14.3 Services etc. +7.4 +10.6 +133 Overall balance +0.5 -0.9 +3.6
Notes on the table:
The industrial sectors are defined in terms of the 1980 Standard Industrial Classification as follows:
Agriculture: Division 0. Energy: Division 1. Manufacturing: Divisions 2–4. Services etc.: Divisions 5–9.
The table is restricted to trade in goods and services, and does not include flows of interest, profits and dividends, and transfers. These items are included in the overall measure of the balance of payments for the United Kingdom.