§ Mr. MilburnTo ask the Chancellor of the Exchequer (1) what has been the average annual rate of export growth in real terms for each of the EC and Group of Seven countries over the period 1979 to 1993; [25199]
(2) what was the average ratio over the period 1979 to 1993 in current prices of investment to gross domestic product for each EC and G7 country; [25201]
(3) what was the average ratio over the period 1979 to 1993 in current prices of imports to gross domestic product for each EC and G7 country; [25200]
(4) what has been the average annual rate of growth in real terms of gross domestic product for each of the EC and G7 countries over the period 1979 to 1993. [25202]
§ Mr. NelsonG7 and EC growth, investment, export and import data can be found in the Organisation for Economic Co-operation and Development publication "National Accounts 1960–1993", volume 1.
The average annual GDP growth, export growth, investment to GDP ratio and imports to GDP ratio for the G7 and EC countries from 1979 to 1993 are given in the tables. The selective period chosen by the hon. Gentleman extends between different points in economic cycles, particularly in the case of the UK, and therefore renders comparisons less meaningful.
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Annual average export volume growth 1979–1993 (Percentage) Average annual GDP growth 1979–1993 (Percentage) G7 US 5.4 2.3 Canada 5.4 2.2 Japan 5.9 3.6 France 3.7 1.8 Italy 3.6 2.0
Annual average export volume growth 1979–1993 (Percentage) Average annual GDP growth 1979–1993 (Percentage) UK 2.9 1.7 W. Germany 5.0 2.0 Rest of EC Austria 2.1 4.5 Belgium 1.8 4.0 Denmark 1.7 4.5 Finland 1.6 3.5 Greece 1.4 5.5 Ireland 3.7 8.5 Luxembourg 3.0 3.7 Netherlands 1.8 3.9 Portugal 2.6 5.9 Spain 2.4 5.9 Sweden 1.2 3.4
Investment to GDP average ratio 1979–93 Imports to GDP average ratio 1979–1993 G7 US 18.3 10.8 Canada 21.1 25.9 Japan 29.9 10.4 France 20.7 22.1 Italy 20.8 21.4 UK 17.4 26.3 W. Germany 20.9 26.3 Rest of EC Austria 24.0 37.7 Belgium 18.0 69.2 Denmark 17.6 32.2 Finland 18.0 27.7 Greece 19.9 30.8 Ireland 20.4 55.1 Luxembourg 22.2 90.4 Netherlands 20.3 49.9 Portugal 28.4 37.1 Spain 21.5 19.7 Sweden 19.0 30.6