§ 70. Colonel J. R. H. Hutchisonasked the Chancellor of the Exchequer what 237W are the latest figures showing the gap between imports and exports of this country, together with an estimate of invisible exports to the same convenient date.
§ Mr. J. EdwardsThe latest figures are those for May, which show an excess of imports c.i.f. over exports f.o.b. (including re-exports) amounting to £97 million. This brings the excess for the first five months of this year to £404 million, as against £165 million for January-May, 1950.
A detailed analysis of our balance of payments for the first half of this year will be published as a White Paper in October; no reliable estimates of net invisible earnings are yet available. Nevertheless, taking into account the movements on visible trade since the beginning of the year, there is little doubt that our overall balance of payments will show some deficit in the first half of 1951.