Manufactures (Hansard, 13 December 1994)

§ Mr. Austin Mitchell
To ask the Chancellor of the Exchequer what was the net rate of return on exports of manufactures, as defined in the Central Statistical Office "First Release" (94) 205, for each quarter from 1975.

§ Mr. Nelson
Estimates for net rate of return on exports of manufactures are unavailable. The net rate of return for manufacturing companies defined in the CSO "First Release" is derived from the gross operating surplus and net capital stock employed by such companies. The CSO does not collect information on whether the operating surplus and capital stock employed relate to manufacturing for domestic markets or for export. Many businesses would be unable to provide a meaningful split, particularly of capital stock employed.

§ Mr. Austin Mitchell
To ask the Chancellor of the Exchequer on what grounds he is forecasting a continuing decline in the United Kingdom share of world trade in manufactures in his "Financial Statement and Budget Report".

§ Mr. Nelson
The United Kingdom is forecast to increase its share of export markets in 1994 and 1995. However, United Kingdom export markets are forecast to grow a little slower than world trade because trade in Europe—our main export market—is projected to rise more slowly than trade between Asian economies.

§ Mr. Austin Mitchell
To ask the Chancellor of the Exchequer how the Treasury calculates the profitability of exports of(a) manufactures and (b) services; and how these calculations compare with the estimate of profitability of domestic manufacturers.

§ Mr. Nelson
Export profit margins for manufactures are calculated from the ratio of manufacturing export prices to estimated manufacturing costs. Estimates of export profit margins for services are not available. It is estimated that manufacturers' export profit margins have risen faster recently than their margins on production for the domestic market.