§ Sir Teddy TaylorTo ask the President of the Board of Trade what was(a) the net balance of trade with the other EC countries in 1972 and (b) the total balance of trade in the period since the United Kingdom joined the EC; and what were the figures in respect of manufacturing trade.
§ Mr. NeedhamThe available information is given in the table.186W
United Kingdom crude balance of trade1 with the EC2 (£ billion, current prices) Year Total 3Manufactures 1972 -0.6 1973 -1.4 1974 -2.4 1975 -2.5 -0.5 1976 -2.4 -0.5 1977 -2.3 -0.6 1978 -3.0 -1.6 1979 -3.7 -2.7 1980 -0.0 -1.7 1981 -0.7 -3.0 1982 -2.2 -5.0 1983 -3.8 -7.9 1984 -4.4 -8.4 1985 -3.4 -9.0 1986 -9.7 -10.8 1987 -10.2 -11.1 1988 -14.9 -13.4 1989 -16.3 -14.6 1990 -10.9 -9.9 1991 -1.9 -1.6 1992 -5.1 -3.7 1 The crude balance of trade is defined as exports (free on board) less imports (cost, insurance and freight). 2 The EC is defined throughout as it was defined in 1992; that is, France, Belgium, Luxembourg, the Netherlands, Germany (including the former Democratic Republic), Italy, the Republic of Ireland, Denmark, Greece, Portugal and Spain. 3 Manufactures are defined by sections 5 to 8 of the standard international trade classification. Sources:
Total: Monthly Review of External Trade Statistics, CSO.
Manufactures: Overseas Trade Statistics of the United Kingdom.