§ Mr. VazTo ask the President of the Board of Trade if she will make a statement on the current level of trade between Britain and China. [14692]
§ Mrs. RocheThe latest information on the level of trade between the UK and China is given in the table.
UK trade with China—current prices, balance of payments basis £ million Goods Services Exports Imports Total trade Exports Imports Total trade 1990 451 539 990 197 67 264 1991 311 651 962 187 74 261 1992 420 883 1,303 142 82 224 1993 748 1,272 2,020 163 126 289 1994 861 1,582 2,443 180 152 332 1995 826 1,829 2,655 200 160 360 1996 740 2,087 2.827 225 150 375 Source:
United Kingdom Balance of Payments, The Pink Book, 1997, ONS. Information on UK trade in services is only available for our major trading partners.
631WMore up to date figures, for trade in goods only, are available on an Overseas Trade Statistics basis (the main difference between these and the figures on a Balance of Payments basis is that imports, on an OTS basis, include the costs of freight and insurance.
UK trade in goods—current prices, overseas trade statistics basis £ million Janaury to September Exports Imports Total trade 1996 645 1,611 2,257 1997 523 1,787 2,309 Source:
Monthly Review of External Trade Statistics, ONS.
The main commodities traded in 1996 were as follows:
£ million Top 5 UK exports to China Specialised industrial machinery 112.4 General industrial machinery 98.0 Telecommunications and sound equipment 91.5 Power generating machinery 73.2 Electrical machinery nes1 38.5 Top 5 UK imports from India Articles of apparel and clothing accessories 341.4 Electrical machinery nes1 154.4 Telecommunications and sound equipment 130.8 Textile yarn, fabrics, made-up articles, nes1 115.6 Manufactures of metal nes1 112.1 Office machines and automatic data processing equipment 99.3 1 Not elsewhere specified within the Standard International Trade Classification. Information on UK trade in services with individual countries is only available annually.
Source:
Overseas Trade Statistics of the United Kingdom, HM Customs and Excise.