§ Mr. Yorkasked the President of the Board of Trade what percentage of the total imports of raw materials, other than food, came from dollar countries in 1947; what is the percentage to which he is working for 1948; and what is the volume and cost in dollars of these proportions.
§ Mr. H. WilsonIn the Economic Survey for 1948, published yesterday, figures are given of total imports during the first half of 1948, from all sources and from the Western Hemisphere, of "raw materials" (which differ in scope from Class II of the Trade Accounts). Analyses according to other sources of154W supply are not available. In 1947, 37 per cent. of the total value of imports on an f.o.b. basis came from the Western Hemisphere compared with 32 per cent. given for the first half of 1948. Owing to the present uncertainties of the dollar balance of payments, it is not possible to give corresponding figures for the second half of 1948. For 1947 the estimated cost on an f.o.b. basis is about £200 million and for the first half of 1948 £91 million, or, converting these sums at $4.03 to the £. $806 million and $367 million respectively, Because of the seasonal movement in imports throughout the year it is not possible to compare the volumes in the two periods.