§ Mr. Deakinsasked the Secretary of State for Trade and Industry what have been the balance of trade and balance of payments figures, respectively, as first announced to Parliament, for each year from 1964 onwards; and what are the latest revised figures for each year.
§ Mr. Kenneth BakerThe information is given in the table. The revisions implied result from changes in definition as well as the incorporation of later information. Whilst sometimes large in relation to the balance, revisions are usually small compared with total trade—viz. imports plus exports.
731W
BoP basis, £ million Visible Trade Current Account *First estimate Latest estimate †First estimate Latest estimate 1964 -553 -543 -374 -358 1965 -276 -260 -136 -30 1966 -174 -108 -61 +130 1967 -528 -599 -514 -269 1968 -705 -712 -419 -244 1969 -177 -209 +366 +505 1970 +12 -34 +631 +823 1971 +295 +190 +952 +1,124 1972 -699 -748 +18 +223 1973 -2,348 -2,586 -1,468 -979 1974 -5,190 -5,351 -3,828 -3,278 1975 -3,211 -3,333 -1,702 -1,513 1976 -3,611 -3,930 -1,423 -837 1977 -1,657 -2,284 -35 +54 1978 -1,104 -1,542 +254 +1,158 1979 -3,233 -3,449 -2,437 -553 1980 +1,039 +1,513 +2,737 +3,650 1981 +3,013 +3,652 +6,036 +7,272 1982 +2,170 +2,384 +3,948 +5,551 1983 -954 -500 +2,049 +2,049 * Released by monthly press notice. † Published quarterly in Economic Trends. A projection of this balance based on information for visible trade only is published on a monthly basis with the visible trade figures. That projection is intended only as a rough guide to the balance, however.