§
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 |
20W
|
£ 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 |
21W
|
£ 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 |
22W
|
£ 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 |
23W
|
£ 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 |
24W
|
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 |
25W
|
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 |
26W
|
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 |
27W
|
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 |