§ Mr. Austin Mitchellasked the Secretary of State for Trade and Industry whether he will publish in the Official Report a table showing what effect he estimates the fall in oil prices will have on the earnings of each of the oil-producing countries on the basis of their net exports in 1985 and the current price of oil, together with their imports of manufactures from the United Kingdom, the rest of the European Economic Community, Japan and the United States of America.
§ Mr. Alan ClarkThere is insufficient information available on 1985 trade flows for the majority of oil exporters to provide reasonable estimates of the effect of the fall in oil prices in the manner requested. Information on the exports of manufactures to OPEC countries in 1985 by the United Kingdom and the rest of the European Community is given in the table. Similar information for Japan and the United States of America is not yet available.
520W
Exports of Manufactures* to OPEC countries—1985 $ million United Kingdom European Community (10) less United Kingdom Algeria 131 4,215 Libya 262 1,543 Nigeria 889 1,617 Gabon 25 446 Venezuela 138 1,089 Ecuador 28 183 Iraq 448 2,162 Iran 530 2,440 Saudi Arabia 1,179 5,216 Kuwait 359 1,229 Qatar 128 318 UAE 586 1,313 Indonesia 142 1,264 * SITC categories 5 to 8. Source: Eurostat—External Trade (monthly statistics)