§ Sir Frederic Bennettasked the Secretary of State for Trade whether he will list those countries of which he is aware, which are in a trading relationship with the United Kingdom, with which the United Kingdom enjoyed in 1974 a favourable and an unfavourable balance of visible trade, respectively.
§ Mr. Clinton Davis:Balance of trade figures are not available with individual countries on a balance-of-payments basis. The crude trade deficit or surplus with each of the countries with which we have a trading relationship can be obtained for 1974 from figures of imports cif and exports fob in Tables II and V respectively in the December 1974 issue of the monthly Overseas Trade Statistics. The crude trade balance—the difference between exports fob and imports cif—is not a good measure of the balance of trade in goods because, inter alia, of differences in valuation.