§ Mr. Austin MitchellTo ask the Chancellor of the Exchequer what is his estimate of the amount by which imports and exports of manufactures were under or over-recorded in 1993 compared with the old system of recording in the case of trade with the EEC; and what is his estimate currently.
§ Mr. NelsonRevised adjustments for under-recording of United Kingdom imports and exports to and from other European Union countries were given in the August 1994 edition of "Economic Trends", which announced the outcome of a review of the Intrastat system carried out by the Central Statistical Office and Her Majesty's Customs and Excise. The effect on the statistics for trade in manufacturers was as follows:
United Kingdom trade with other European Union countries Manufacturers (SITC Rev, 3 section 5 to 8) (1993, million on a balance of payments basis) United Kingdom imports United Kingdom exports Balance Pre review 55,533 52,098 -3,435 Post review 55,748 51,878 -3,870 Revision +215 -220 -435 The review also established that there were faults in the old system of recording which caused, for example, total imports from other European Union countries to be overstated by an estimated £2,175 million in 1992. Estimates of the effect of the changed recording system at the level of manufactured goods are not available.