Balance of Trade (Hansard, 14 March 1990)

§ 25. Mr. Dykes
To ask the Secretary of State for Trade and Industry if he will consider direct action by his Department to improve the United Kingdom's trade deficit figures with other advanced economies.

§ Mr. Redwood
Exports from the United Kingdom are running at record levels. The present deficit has been caused mainly by excessive growth in domestic demand in relation to domestic industrial capacity. It is therefore a macro-economic problem which will be resolved by the sound macro-economic policies which the Government are pursuing. The Government administer a number of schemes to help promote exports.

§ 61. Mr. Livingstone
To ask the Secretary of State for Trade and Industry if he will list the east and west European countries with which the United Kingdom has a trade surplus in manufactures.
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§ 67. Mr. Lewis
To ask the Secretary of State for Trade and Industry if he will list the east and west European countries with which the United Kingdom has a trade surplus in manufactures.

§ Mr. Redwood
The European countries with which the United Kingdom in 1989 had a crude surplus in trade in manufactured goods are, in decreasing size of surplus:

Irish Republic

Spain

Soviet Union

Greece

Malta

Gibraltar

Bulgaria

Turkey

Hungary

Iceland

Yugoslavia

Andorra

Faroe Islands

Vatican City

Albania

§ 28. Mr. Leighton
To ask the Secretary of State for Trade and Industry what was the United Kingdom's balance of trade with the EEC(a) in 1972 and (b) currently, in (i) the manufacturing sector and (ii) the financial services sector.

§ Mr. Redwood
In 1972 United Kingdom exports of manufactures to the countries currently comprising the EC exceeded imports by £168 million. The same comparison for 1989 shows that exports were exceeded by imports by £14.4 billion. Corresponding information on trade in financial services is not available.