§ Sir Anthony Meyerasked the Secretary of State for Trade what has been the balance of trade in chemicals between the United Kingdom and the other member States of the European Community in each year since 1970; if he will express this in both money terms and by giving the export to import ratios; and by how much British chemical exports to the Community have grown in real and notional terms if 1973=100.
§ Mr. Peter ReesThe available information is as follows:
United Kingdom Trade with the rest of the European Community in chemicals Crude Balance (£ million) Export-Import Ratio(Per cent.) Export £ million job) SITC(R1) 1970 -14 94 223 1971 +1 100 255 1972 -7 98 300 1973 - 24 95 430 1974 - 96 89 808 1975 +8 8 768 SITC(R2) 1975 +8 101 753 1976 - 42 96 1,112 1977 - 86 94 1,422 1978 -103 94 1,711 1979 - 74 97 2,282 1980 +175 108 2,324 Notes:
- (a)Figures correspond to section 5 of the Standard International Trade Classification. Those for 1970 to 1974 are based on the first revision of the classification (SITC/R1), and those for 1976-80 on the second (SITC/ R2). For comparison, figures for 1975 are given on both bases.
- (b)Because of this discontinuity, a series based on current prices and indexed to 1973 as 100 could be constructed only at disproportionate cost. Information at constant prices is not available for trade with particular countries or groups of countries.
- (c)The European Community is defined throughout on the basis of current membership.
- (d)The crude balance of trade is the difference between exports valued fob and imports valued cif.