HC Deb 24 October 1988 vol 139 cc19-27W
Mr. Wray

To ask the Chancellor of the Duchy of Lancaster what information he has as to which were the 15 countries with the highest balance of trade deficit in(a) terms of percentage of their gross domestic products, and (b) in pounds sterling, for each year since 1975.

Mr. Alan Clark

The analysis has been restricted to the members of OECD because a comparison involving all countries would involve disproportionate cost. Figures for all OECD countries up to 1986, the latest available on the balance of payments basis, are in the tables.

Balance of trade (BoP basis): OECD countries, in decreasing order of deficit—£ million 1975
£ million
United Kingdom -3,333
Spain -3,294
Turkey -1,336
Norway -1,268
Greece -1,053
Finland -783
Portugal -689
Austria -626
Denmark -559
Italy -396
New Zealand -323
Ireland -251
Canada -117
Iceland -60
Belgium/Luxembourg -18
Switzerland 1
Sweden 61
France 520
Netherlands 609
Australia 885
Japan 2,155

£ million
USA 4,662
Germany 7,356
1976
Spain -4,127
United Kingdom -3,929
USA -3,919
France -2,593
Italy -2,093
Norway -1,965
Turkey -1,577
Denmark -1,555
Austria -1,393
Greece -1,260
Portugal -1,106
Sweden -457
Finland -409
Ireland -377
Belgium/Luxembourg -153
New Zealand -117
Iceland -14
Switzerland 217
Australia 811
Canada 1,041
Netherlands 1,104
Japan 5,048
Germany 8,476
1977
United States of America -16,632
Spain -3,634
Norway -2,321
United Kingdom -2,284
Austria -2,245
Turkey -1,969
Greece -1,560
Denmark -1,505
France -1,444
Portugal -1,374
Belgium/Luxembourg -1,044
Ireland -519
Sweden -430
Iceland -30
Switzerland 34
New Zealand 87
Finland 211
Italy 214
Netherlands 268
Australia 592
Canada 1,819
Japan 9,243
Germany 10,638
1978
United States of America -16,683
Spain -2,251
Austria -1,636
Greece -1,608
United Kingdom -1,542
Portugal -1,189
Denmark -1,163
Turkey -972
Belgium/Luxembourg -935
Ireland -613
Netherlands -390
Norway -260
Iceland 17
France 92
Switzerland 196
Australia 372
New Zealand 384
Finland 527
Sweden 802
Italy 1,719
Canada 2,182
Germany 12,232
Japan 12,284

£ million
1979
United States of America -13,643
United Kingdom -3,449
Spain -2,634
Greece -1,947
Austria -1,835
France -1,446
Belgium/Luxembourg -1,362
Denmark -1,323
Turkey -1,261
Portugal -1,169
Ireland -1,159
Switzerland -934
Sweden -352
Netherlands -270
Italy -76
Iceland 12
Japan 30
Norway 112
Finland 130
New Zealand 418
Australia 1,391
Canada 1,971
Germany 7,224
1980
United States of America -9,796
Italy -6,736
France -6,317
Spain -4,687
Turkey -3,167
Austria -2,657
Switzerland -2,349
Portugal -1,587
—Belgium/Luxembourg -1,505
Greece -1,485
Ireland -1,023
Sweden -995
Denmark -698
Finland -336
Japan -248
Australia -32
Netherlands -26
Iceland 14
New Zealand 228
Norway 877
United Kingdom 1,361
Germany 3,365
Canada 3,445
1981
United States of America -14,087
France -5,388
Italy -5,145
Spain -4,446
Portugal -2,383
Austria -2,048
Turkey -1,905
Australia -1,828
Greece -1,799
Switzerland -1,363
Ireland -1,175
Belgium/Luxembourg -1,065
Denmark -331
Sweden -86
Iceland -13
Finland 59
New Zealand 445
Norway 1,573
Netherlands 2,569
Canada 3,239
United Kingdom 3,360
Germany 7,630
Japan 9,293
1982
United States of America -20,510
France -6,358

£ million
Spain -4,771
Italy -4,421
Greece -2,673
Austria -1,788
Portugal -1,523
Turkey -1,520
Switzerland -1,290
Belgium/Luxembourg -1,248
Ireland -729
Sweden -494
Denmark -279
Australia -256
Iceland -87
Finland 28
New Zealand 80
Norway 1,446
United Kingdom 2,331
Netherlands 3,382
Canada 8,580
Japan 9,387
Germany 13,899
1983
United States of America -43,312
Spain -4,032
France -3,209
Greece -2,733
Switzerland -2,158
Austria -2,148
Turkey -1,999
Italy -1,066
Portugal -1,040
United Kingdom -835
Belgium/Luxembourg -254
Ireland -165
Australia -43
Finland -28
Iceland 12
Denmark 294
New Zealand 640
Sweden 1,019
Norway 3,009
Netherlands 3,377
Canada 9,882
Germany 13,750
Japan 19,600
1984
United States of America -82,729
United Kingdom -4,384
Italy -3,646
Greece -2,656
Switzerland -2,501
Austria -2,321
Turkey -2,247
France -2,184
Spain -2,003
Portugal -290
Belgium/Luxembourg -183
Australia -74
Iceland -8
Denmark 50
Ireland 171
Finland 951
New Zealand 964
Sweden 2,278
Norway 3,953
Netherlands 5,115
Canada 12,436
Germany 15,943
Japan 31,673
1985
United States of America -93,197
Italy -4,140
Greece -3,491
France -2,555
Switzerland -2,310

£ million
Spain -2,223
United Kingdom -2,178
Austria -1,942
Turkey -1,915
Australia -1,734
Portugal -384
Denmark -302
New Zealand -62
Iceland 0
Belgium/Luxembourg 175
Ireland 450
Finland 569
Sweden 1,497
Norway 3,821
Netherlands 5,228
Canada 10,177
Germany 21,586
Japan 41,068
1986
United States of America -97,600
United Kingdom -8,463
Spain -3,287
Switzerland -2,191
Austria -2,145
Turkey -2,072
Norway -1,234
Australia -792
France -695
Denmark -500
Portugal -450
Greece 0
Iceland 66
New Zealand 328
Ireland 1,057
Finland 1,267
Belgium/Luxembourg 1,378
Italy 2,730
Sweden 3,342
Netherlands 5,389
Canada 5,517
Germany 37,400
Japan 61,561

Source OECD Annual National Accounts; IMF

Balance of trade (BoP basis): OECD countries in order of decreasing deficit—as per cent. of GDP
Per cent.
1975
Greece -11.2
Portugal -10.4
Iceland -10.2
Norway -9.9
Turkey -8.3
Spain -7.0
Ireland -6.6
Finland -6.1
New Zealand -5.4
Austria -3.7
Denmark -3.3
United Kingdom -3.1
Italy -0.4
Canada -0.2
Belgium/Luxembourg -0.1
Switzerland 0.0
Sweden 0.2
France 0.3
United States of America 0.7
Japan 1.0
Netherlands 1.6
Australia 2.0
Germany 3.9
1976
Portugal -12.9
Norway -11.3

Per cent.
Greece -10.1
Ireland -8.1
Turkey -6.9
Spain -6.9
Denmark -6.8
Austria -6.2
United Kingdom -3.1
Finland -2.4
Italy -1.7
Iceland -1.6
New Zealand -1.6
France -1.3
Sweden -1.1
United States of America -0.4
Belgium/Luxembourg -0.4
Switzerland 0.7
Canada 0.9
Australia 1.4
Japan 1.6
Netherlands 2.1
Germany 3.4
1977
Portugal -14.7
Norway -11.3
Greece -10.4
Ireland -9.1
Austria -8.1
Turkey -7.2
Denmark -5.6
Spain -5.2
Iceland -2.5
Belgium/Luxembourg -2.2
United Kingdom -1.6
United States of America -1.5
Sweden -0.9
France -0.6
Switzerland 0.1
Italy 0.2
Netherlands 0.4
Australia 1.0
New Zealand 1.1
Finland 1.1
Canada 1.6
Japan 2.3
Germany 3.6
1978
Portugal -12.7
Greece -9.8
Ireland -9.1
Austria -5.4
Denmark -4.0
Turkey -3.6
Spain -2.9
Belgium/Luxembourg -1.8
United States of America -1.4
Norway -1.2
United Kingdom -0.9
Netherlands -0.5
France 0.0
Switzerland 0.4
Australia 0.6
Italy 1.1
Iceland 1.3
Sweden 1.7
Canada 2.0
Japan 2.4
Finland 2.9
Germany 3.7
New Zealand 4.2
1979
Ireland -15.2
Portugal -12.2
Greece -10.7
Austria 5.7
Denmark -4.3

Per cent.
Turkey -3.9
Spain -2.9
Belgium/Luxembourg -2.5
Switzerland -2.1
United Kingdom -1.8
USA -1.2
Sweden -0.7
France -0.5
Netherlands -0.4
Italy 0.0
Japan 0.0
Norway 0.5
Finland 0.6
Iceland 1.0
Canada 1.8
Germany 2.0
Australia 2.2
New Zealand 4.4
1980
Portugal -14.7
Turkey -12.9
Ireland -12.4
Greece -8.6
Austria -8.0
Switzerland -5.4
Spain -5.1
Italy -3.4
Belgium/Luxembourg -2.8
Denmark -2.4
France -2.2
Sweden -1.9
Finland -1.5
USA -0.8
Japan -0.1
Australia 0.0
Netherlands 0.0
United Kingdom 0.6
Germany 1.0
Iceland 1.0
New Zealand 2.4
Canada 3.0
Norway 3.5
1981
Portugal -19.8
Ireland -13.0
Greece -9.9
Turkey -6.7
Austria -6.3
Spain -4.9
Switzerland -2.9
Italy -2.5
Belgium/Luxembourg -2.1
Australia -2.1
France -1.9
Denmark -1.2
United States of America -0.9
Iceland -0.8
Sweden -0.2
Finland 0.2
United Kingdom 1.3
Japan 1.6
Canada 2.2
Germany 2.3
Netherlands 3.7
New Zealand 3.7
Norway 5.6
1982
Greece -12.1
Portugal -11.5
Ireland -6.7
Turkey -5.0
Iceland -4.9
Austria -4.7
Spain -4.7
Belgium/Luxembourg -2.4

Per cent.
Switzerland -2.3
France -2.0
Italy -1.9
United States of America -1.2
Denmark -0.9
Sweden -0.9
Australia -0.3
Finland 0.1
New Zealand 0.6
United Kingdom 0.8
Japan 1.5
Germany 3.7
Netherlands 4.3
Norway 4.5
Canada 5.0
1983
Greece -11.9
Portugal -7.6
Turkey -5.9
Austria -4.9
Spain -3.9
Switzerland -3.4
United States of America -2.0
Ireland -1.4
France -0.9
Belgium/Luxembourg -0.4
Italy -0.4
United Kingdom -0.3
Finland -0.1
Australia 0.0
Iceland 0.7
Denmark 0.8
Sweden 1.7
Japan 2.5
Germany 3.2
Netherlands 3.8
New Zealand 4.2
Canada 4.6
Norway 8.3
1984
Greece -10.5
Turkey -6.0
Austria -4.9
Switzerland -3.7
United States of America -3.0
Portugal -2.0
Spain -1.7
United Kingdom -1.4
Italy -1.2
France -0.6
Iceland -0.4
Belgium/Luxembourg -0.3
Australia -0.1
Denmark 0.1
Ireland 1.3
Finland 2.5
Sweden 3.2
Japan 3.4
Germany 3.5
Canada 4.9
Netherlands 5.5
New Zealand 5.8
Norway 9.5
1985
Greece -13.5
Turkey -4.7
Austria -3.8
Switzerland -3.2
United States of America -3.1
Portugal -2.4
Spain -1.8
Australia -1.4
Italy -1.3
Denmark -0.7
France -0.6

Per cent.
United Kingdom -0.6
New Zealand -0.4
Iceland 0.0
Belgium/Luxembourg 0.3
Finland 1.4
Sweden 1.9
Ireland 3.2
Canada 3.8
Japan 4.0
Germany 4.5
Netherlands 5.4
Norway 8.5
1986
Turkey -5.2
United States of America -3.4
Austria -3.4
Norway -2.6
Switzerland -2.4
Portugal -2.3
United Kingdom -2.3
Spain -2.1
Denmark -0.9
Australia -0.7
France -0.1
Greece 0.0
Italy 0.7
Belgium/Luxembourg 1.7
New Zealand 1.7
Canada 2.2

United Kingdom letter prices 1974 to 1988
Tariff Percentage increase (decrease) on previous year
1st-class 2nd-class 1st-class 2nd-class
1974 4.5p 3.5p
1975 (2 increases) 7p 5.5p 55 57
8.5p 6.5p 89 86
1976 8.5p 6.5p
1977 9p 7p 6 8
1978 9p 7p
1979 10p 8p 11 14
1980 12p 10p 20 25
1981 14p 11.5p 17 15
1982 15.5p 12.5p 11 9
1983 16p 12.5p 3
1984 17p 13p 6 4
1985 17p 12p (8)
1986 18p 13p 6 8
1987 18p 13p
1988 19p 14p 6 8