HC Deb 27 May 1993 vol 225 cc662-3W
Mr. Austin Mitchell

To ask the Chancellor of the Exchequer what assessment he has made of the factors determining the level of import penetration of the United Kingdom for manufacturers since(a) 1979 and (b) the year ended June 1989; and to what extent the increase in import penetration is due to the increase in the real exchange rate since the second half of 1973.

Mr. Nelson

Rising import penetration is largely a consequence of the greater specialisation of international production, and has been experienced by virtually all other industrialised countries. The counterpart to this rising import penetration is higher exports. United Kingdom export volumes were at record levels at the end of 1992 and have grown faster than gross domestic product as a whole since 1979.