§ Mr. Austin MitchellTo ask the President of the Board of Trade, pursuant to his oral answer of 23 November 1994,Official Report, column 583, what has been the change in the nominal exchange rate for sterling against (a) the Deutschmark, (b) the ecu and (c) the non-ecu currencies since February 1993, together with his estimate of the likely effects on imports and exports of finished manufactures.
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§ Mr. NeedhamA selection of exchange rates, including the Deutschmark and the European currency unit, are regularly published in the Central Statistical Office's financial statistics, table 7.1A, copies of which are available in the Library of the House. An exchange rate index for non-ecu currencies is not available and could be calculated only at disproportionate cost. The Government's assessment of trade performance, published in chapter 3 of the "Financial Statement and Budget Report" took into account all relevant factors, including past movements in exchange rates.
§ Mr. Austin MitchellTo ask the President of the Board of Trade, pursuant to his oral answer of 23 November 1994Official Report, column 583, what has been the fall in the value of sterling and the lira since August 1992 together with (i) the balance of visible trade in 1992, 1993 and this year to date in each case in terms of dollars and (ii) the increase since August 1992 in producer prices.
§ Mr. NeedhamBetween August 1992 and October 1994 the values of sterling and the lira against the US$ fell 21.0 and 40.4 per cent. respectively. Between August 1992 and July 1994 United Kingdom and Italian producer prices for manufacturing increased 5.1 and 10.1 per cent. respectively.
Visible trade balances US$ million 1992 1993 January 1994 to date United Kingdom -23,148 -19,833 -9,9131 Italy -10,320 20,760 11.9402 Note: 1 Up to August 1994 2 Up to June 1994 Sources:
OECD Main Economic Indicators, CSO