§ Mr. Austin MitchellTo ask the Chancellor of the Exchequer what was the change in the real exchange rate of the dollar to the pound in terms of relative export unit values for manufactures in the second quarter of 1994 compared to the first quarter of 1980; and what estimate he has made of the effect of this change on the balance of trade between(a) the United States of America and (1) the world and (2) the United Kingdom and (b) the United Kingdom and (1) the United States of America and (2) the world. [25675]
§ Mr. NelsonThe sterling-dollar real exchange rate in terms of export unit values for manufactures can be calculated from data available on the Central Statistical712W Office database, which can be accessed through the Library of the House.
The balance of trade between countries depends on a variety of factors, including price and non-price competitiveness, domestic demand, and overseas demand, none of which are easy to isolate.