§ 37. Mr. Canavan
To ask the President of the Board of Trade what is the latest balance of trade in manufactured goods.
§ Mr. Needham
In 1992, the United Kingdom deficit in manufactured goods was £7.6 billion.
With the completion of the single market at the end of 1992, routine border requirements and formalities were abolished for trade within the European Community. Customs declarations—the source of trade statistics until December 1992—are no longer required. A new system is being introduced but, at present, it is not possible to provide figures for trade with the European Community for January 1993 onwards.
In the 12 months to March 1993, the United Kingdom had a deficit in manufactured goods of £5.3 billion with non-EC countries.