HC Deb 03 April 1995 vol 257 cc907-8W
Mr. Austin Mitchell

To ask the Chancellor of the Exchequer what assessment he has made of the reasons for the state of the balance of trade in manufactured goods in 1994; and what this balance was(a) in 1994 prices and (b) as a percentage of gross domestic product relative to that in (i) 1970, (ii) 1977 and (iii) 1979. [17118]

Mr. Nelson

A recent assessment of factors affecting the balance of trade in manufactures was published in the November 1994 "Financial Statement and Budget Report", based on data available at that time. Estimates for the balance of trade in manufactures up to and including 1994, both in 1994 prices and as a percentage of gross domestic product, can be calculated from series on the Central Statistical Office database. This can be accessed through the Library of the House.

Mr. Austin Mitchell

To ask the Chancellor of the Exchequer what was the reason for the change in the deficit in the balance of trade with the EC Twelve in manufactured goods between 1992 and 1994; and what was the contribution to that change of monetary and exchange rate policies. [17162]

Mr. Nelson

The balance of trade with the EU in manufactures depends on a variety of factors, including competitiveness, domestic demand and mainland European demand. By keeping inflation low, monetary policy has contributed to British industry's ability to compete in both overseas and domestic markets.

Mr. Austin Mitchell

To ask the Chancellor of the Exchequer if he will list by rank order of import penetration for the manufacturing industries listed in table 15.10 of the April 1991 "Monthly Digest of Statistics" the percentage change in the volume of output, exports and imports in (i) 1994 and (ii) the fourth quarter of 1994 since the 12 months ended in 1989 and the implied increase in import penetration. [17116]

Mr. Nelson

Comparative data for 1994 and 1989 are not available.

Mr. Austin Mitchell

To ask the Chancellor of the Exchequer what assessment he has made of the effect on the balance of trade with the EC Twelve in manufactures between 1992 and 1994 of the increase in United Kingdom export unit values for manufactures relative to those of the EC Six between the third quarter of 1992 and the first half of 1994. [17124]

Mr. Nelson

The balance of trade with the EU in manufactures depends on a variety of factors, including competitiveness, domestic demand, and mainland European demand.