§ Captain Kerbyasked the Chancellor of the Exchequer which Commonwealth countries in Africa currently have favourable trade balances with the United Kingdom; and what is the amount of sterling balances of such countries held in London.
§ Mr. MacDermotIt is not feasible to give precisely the information asked for. The Trade and Navigation Accounts show that, in the first ten months of 1964, the value of United Kingdom imports (c.i.f.) exceeded that of U.K. exports and re-exports (f.o.b.) in trade with the following countries: Gambia,234W Federation of Nigeria; Basutoland, Bechuanaland Protectorate and Swaziland; Rhodesia and Nyasaland; Tanganyika; Uganda; and Mauritius.
According to the September, 1964 issue of the Bank of England Quarterly Bulletin, U.K. net liabilities in sterling to the Sterling Area countries of East Central and West Africa as a group amounted to £309 million at the end of June, 1964.