United States of America

HC Deb 19 December 1979 vol 976 cc258-60W

Mr. Austin Mitchell

asked the Secretary of State for Trade whether he will circulate in the Official Report a table showing, in terms of value and volume, based on 1970, imports from and exports to the United States of America of manufactures each year since 1963, the corresponding surplus or deficit in terms of current prices, the exchange rate between the dollar and the £ sterling as a per-

S. 682/79
I. UNITED KINGDOM TRADE WITH THE USA IN MANUFACTURES1
(Indices of Value)
				Imports (CIF)	Exports (FOB)	Crude Balance (£ thousand) (Exports valued fob minus imports cif)
SITC (R)
1963	…	…	…	32	41	+30,958
1964	…	…	…	47	44	—78,301
1965	…	…	…	50	55	—25,623+
1966	…	…	…	53	70	+71,356
1967	…	…	…	62	69	—20,457
1968	…	…	…	89	97	—42,084
1969	…	…	…	100	99	—123,043
1970	…	…	…	100	100	—118,235
1971	…	…	…	89	118	+108,094
1972	…	…	…	96	135	+183,046
1973	…	…	…	135	171	l4,370
1974	…	…	…	191	197	—181,458
1975	…	…	…	196	197	—227,631
1976	…	…	…	257	273	—184,307
1977	…	…	…	307	323	—245,541
SITC (R2)
1977	…	…	…	312	328	—251,161
1978	…	…	…	351	373	—246,936
January-October
1979	…	…	…	350	335	—529,532

II. STERLING EXCHANGE RATE AGAINST THE US DOLLAR EXPRESSED AS PERCENTAGE OF 1963 RATE2
				Percentage	1970	…	Percentage
1963	…	…	…	100	1970	…	85.6
1964	…	…	…	99.7	1971	…	87.3
1965	…	…	…	99.9	1972	…	89.4
1966	…	…	…	99.8	1973	…	87.6
1967	…	…	…	98.1	1974	…	83.6
1968	…	…	…	85.5	1975	…	79.3
1969	…	…	…	85.4	1976	…	64.5
	1977	…	62.4
	1978	…	68.6
	January-October 1979	…	75.5

III. EXPORT VOLUME INDEX (FOB) FOR UNITED KINGDOM TRADE IN MANUFACTURES WITH ALL COUNTRIES AS A PERCENTAGE OF THE IMPORT VOLUME INDEX (CIF)
				Percentage			Percentage
1963	…	…	…	100	1970	…	75
1964	…	…	…	85	1971	…	74
1965	…	…	…	90	1972	…	64
1966	…	…	…	88	1973	…	61
1967	…	…	…	76	1974	…	60
1968	…	…	…	74	1975	…	62
1969	…	…	…	79	1976	…	62
					1977	…	61
					1978	…	55
					January-October 1979	…	48
Sources:
(1) United Kingdom Overseas Trade Statistics (SITC (R1 & 2) Divisions 5 to 8).
(2) Monthly Review of External Trade Statistics.
Notes:
(a) In table I, imports and exports for the years 1963–1976 are based on the first revision of the Standard International Trade Classification (SITC/R), and for the years 1978–1979 on the second revision of that Classification (SITC/R2). For purposes of comparison 1977 is shown on both bases.
(b) Information for the volume of imports and exports of manufactures with the United States of America is not available.

centage of the 1963 rate, and the relative volume of exports and imports of manufactures as a percentage of 1963.

Mr. Parkinson: The available information is as follows: