EU Trade Balance

HC Deb 15 February 2001 vol 363 c289W

Sir Teddy Taylor

To ask the Secretary of State for Trade and Industry if he will make a statement on trends in the trade balance with the European Union. [149025]

Mr. Caborn

The EU is the most important market for UK exports of goods and services. The EU accounts for over 50 per cent. of total UK exports. During 2000, the UK's bilateral trade (in goods) with the rest of the EU was broadly in balance. This contrasts with a modest deficit which prevailed for much of the 1990s.