§ Mr. Austin MitchellTo ask the Secretary of State for Trade and Industry what is his estimate of the increase in imports and loss of exports as a result of access to the domestic and overseas markets of British companies acquired by foreign competitors.
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§ Mr. RedwoodThere are no estimates of the trade effects of acquisitions of British companies by foreign competitors. Such acquisitions can provide important benefits to the economy and also have to be balanced against British company acquisitions of overseas companies.
United Kingdom top ten exports 1979 to 1988 Value in £ million Division 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 33 Petroleum, petroleum products and related materials 4,158 6,133 9,108 10,686 12,501 14,852 16,134 8,208 8,466 5,576 75 Office machines and automatic data processing machines — — — 1,600 2,049 3,047 3,747 3,562 4,483 5,297 78 Road vehicles (including air cushion vehicles) 3,148 3,158 3,170 3,109 3,092 3,319 3,911 3.954 4,877 4,992 77 Electrical machinery, apparatus and appliances, n.e.s. and electrical parts thereof 1,457 1,799 1,759 2,117 2,292 2,805 3,380 3,383 3,786 4,343 89 Miscellaneous manufactured articles, n.e.s. 1,537 1,730 1,909 2,023 2,393 2,921 3,175 3,539 4,357 4,326 79 Other transport equipment 1,802 2,380 1,726 2,034 2,342 2,766 2,737 3,081 3,759 3,965 71 Power generating machinery and equipment 1,789 2,231 2,642 2,809 2,473 2,709 3,061 3,251 3,241 3,885 74 General industrial machinery and equipment, n.e.s. and machine parts, n.e.s. 1,960 2,317 2,306 2,412 2,334 2,557 2,937 3,037 3,098 3,578 72 Machinery specialised for particular industries 2,313 2,574 2,558 2,601 2,335 2,677 3,078 3,101 3,300 3,288 51 Organic chemicals — — 1,496 — — 2,382 2,743 2,571 2,831 3,138 66 Non-metallic mineral manufactures, n.e.s. 3,396 3,551 1,538 1,610 1,996 — — — — — 65 Textile yarn, fabrics, made-up articles, n.e.s. and related products 1,339 — — — — — — — — — 68 Non-ferrous metals — 1,771 — — — — — — — — Notes:
1. 1988 figures are provisional.
2. Divisions listed in descending order based on 1988 values.
Source: Overseas Trade Statistics.