§ Dr. FoxTo ask the Chancellor of the Exchequer what(a) proportion and (b) value of Britain's trade was conducted in (i) German marks, (ii) United States dollars and (iii) other European currencies in each of the last five years for which figures are available. [13764]
§ Mrs. LiddellThe following two tables show the most recent official data on currency of invoice other than sterling, relating to 1984–1988. The data requested are only available for US dollars. Data for individual European currencies other than sterling are not available, although a special exercise to determine Deutschmark usage suggested that, in 1987 and 1988, this was 4 per cent. for exports and 14 per cent. for imports.102W
Percentage of UK trade denominated in dollars and currency of partner country Year Denominated in dollars Denominated in currencies of partner countries Exports2 Imports3 Exports Imports 1984 15 25 22 41 1985 18 24 23 43 1986 20 17 26 46 1987 19 13 24 46 1988 15 16 24 41 1Including US for US/UK trade. 2Export data based on November transactions except for 1987 which is based on May data. 3Import data based on September transactions, except for 1987 which is based on March data.
Value of UK trade denominated in dollars and currency of partner country £ million Year Denominated in dollars Denominated in currencies of partner countries1 Exports Imports Exports Imports 1984 13,745 24,440 20,159 40,083 1985 18,367 23,757 23,469 42,565 1986 19,577 17,207 25,450 46,562 1987 20,215 14,526 25,535 51,399 1988 16,091 19,967 25,745 51,166 Source:
"British Business" 17 January 1986 and 24 April 1987 (DTI) and "Business
Bulletin"
15 December 1989 (CSO).
Note:
1Including US for US/UK trade.
§ Dr. FoxTo ask the Chancellor of the Exchequer what(a) proportion and (b) value of Britain's trade was denominated in sterling in each of the last five years for which figures are available. [13763]
§ Mrs. LiddellThe following table shows the most recent official data on currency of invoice, relating to 1984–1988.
Proportion and value of UK trade denominated in sterling (1984–1988) Proportion of trade (Per cent.) Value of trade (£million) Year Exports1 Imports2 Exports Imports 1984 63 34 57,728 33,239 1985 59 32 60,204 31,676 1986 54 37 52,858 37,452 1987 57 40 60,646 44,695 1988 62 43 66,509 53,662 Source:
"British Business" 17 January 1996 and 17 April 1987 (DTI) and "Business Bulletin" 15 December 1989 (CSO).
Notes:
1Export data based on November transactions, except for 1987 which is based on May data.
2Import data based on September transactions, except for 1987 which is based on March data.