Balance of Trade

HC Deb 03 December 1976 vol 921 cc314-5W

Mr. Ridley

asked the Secretary of State for Trade what has been the total deficit (a) on visible trade only, and (b) on the current account, which the United Kingdom has incurred since February 1974.

Mr. Meacher

For the period February 1974 up to and including October 1976 the cumulative visible trade deficit was £11,130 million seasonally adjusted. The corresponding figure for the current account was £6,320 million.

Mr. Teddy Taylor

asked the Secretary of State for Trade what has been the trade balance or deficit, respectively, with the EEC countries in manufactured

"CRUDE"*BALANCE OF TRADE WITH EEC SELECTED COMMODITY GROUPS
£ million,
Overseas Trade Statistics basis
						Food	Basic Materials and Oil	Manufactured Goods	Other
1971	…	…	…	…	…	-503	-67	+320	-5
1972	…	…	…	…	…	-498	-85	+27	-24
1973	…	…	…	…	…	-699	-116	-275	-83
1974	…	…	…	…	…	-1,220	-273	-637	-66
1975	…	…	…	…	…	-1,474	-328	-544	-39
January-October 1976 at an annual rate	…	…	…	…	…	-1,449	-243	-455	-83
* The crude trade balance is the difference between exports fob and imports cif.