Trade Statistics (Hansard, 22 October 1990)

§ Mr. Austin Mitchell
To ask the Chancellor of the Exchequer what was the increase in(a) gross domestic product, (b) manufacturing output, (c) unemployment, (d) unit labour costs in manufacturing, (e) real wages, (f) inflation and (g) the balance of trade in manufactures between (1) 1979 and 1989 and (2) 1985 and 1989 in (i) Germany, (ii) France, (iii) Italy and (iv) the United Kingdom.

§ Mr. Norman Lamont
Information in respect of 1979 and 1985 can be obtained from the following publications:
(a) Gross Domestic Product
"National Accounts Main Aggregates Volume I 1960–1988" published by OECD
Part 6 table 4 gives GDP at current prices and 1985 exchange rates and table 13 GDP at current prices and current exchange rates both expressed in billions of US dollars for all the countries in question.
(b) manufacturing output
Information for 1979 can be found in "Short Term Industrial Trends" and for 1985 in "Industrial Trends" published by Eurostat.
(c) unemployment
Separate tables are given for each country in "Main Economic Indicators Historical Statistics 1969–1988" published by OECD.
(d) unit labour costs costs in manufacturing
Separate tables are given for Germany and the United Kingdom in "Main Economic Indicators Historical Statistics 6W 1969–1988" published by OECD. Data are not available for France and Italy.
(e) real wages
Information on compensation of employees which includes all payments in cash and in kind made by employers in remuneration for the work done by their employees is given in Table J in "National Accounts ESA Aggregates 1970–1988 Theme 2 Series C" published by Eurostat.
(f) inflation
Separate tables showing consumer price indices are given for each country in "Main Economic Indicators Historical Statistics 1969–1988" published by OECD.
(g) balance of trade in manufactures
This can be calculated from data in "External Trade Statistics Year Book 1988 edition Theme 6 Series A" published by Eurostat.
Information in respect of 1989 can be obtained from the following publications:
(a) gross domestic product
Part III (Appendix) in "Main Economic Indicators" published monthly by OECD gives GDP at current prices arid 1985 exchange rates and GDP at current prices and current exchange rates both expressed in billions of US dollars for all the countries in question.
(b) manufacturing output
"Industrial Trends" published by Eurostat.
(c)unemployment
Information can be found in the various country tables published in "Main Economic Indicators" published monthly by OECD.
(d) unit labour costs in manufacturing
Information can be found in the various country tables published in "Main Economic Indicators" published monthly by OECD.
(e) real wages
Not yet available.
(f) inflation
Information on Consumer price indices appears in Part I (Indicators by subject) in "Main Economic Indicators" published monthly by OECD.
(g) balance of trade in manufactures
This can be calculated from data in "External Trade Monthly Statistics Theme 6 Series B" published by Eurostat.
Copies of all these publications are available in the Library.

§ Mr. Austin Mitchell
To ask the Chancellor of the Exchequer what is his estimate of the time lag between changes in the International Monetary Fund index of the trade-weighted relative price of United Kingdom exports of manufacturers and changes in the United Kingdom balance of trade in manufactures in terms of value; what index figure is reflected in the latest trade figures; and by how much the index has since increased as a result of(a) the higher rate of inflation in the United Kingdom and (b) the increase in the nominal rate of exchange.

§ Mr. Norman Lamont
Changes in the IMF index of the trade-weighted relative price of United Kingdom exports of manufactures can to some extent have a contemporaneous effect on the value of United Kingdom exports and, hence, the balance of trade. The full effect, of course, takes longer to work through and estimates are subject to considerable uncertainty. The balance of trade is also influenced by the growth of home and overseas demand, and by non-price competitiveness which has improved markedly in the 1980s as a result of the Government's supply side measures. The IMF will publish the level of the index of trade-weighted United Kingdom relative prices relating to recent months in due course.