§ 47. Sir C. Osborneasked the President of the Board of Trade what are the estimated terms of trade, to the latest available date; by how much he estimates United Kingdom imports and exports would be increased or decreased in value if the terms of trade had remained as in 1954; and if he will make a statement.
§ Mr. RedheadIn September, 1964, the terms of trade stood at 101 (taking 1961 as 100).
It is estimated that the value of United Kingdom exports in the first nine months of 1964 would have been, at an annual rate, about £650 million less at 1954 prices, and the value of imports about the same. Firm conclusions cannot however be drawn from these estimates, since at different price levels the quantities of goods exported and imported would also have been different.