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Volume 885: debated on Tuesday 28 January 1975

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asked the Secretary of State for Trade what proportion the cost of timber imports bears to the total balance of payments deficit of timber for 1974.

There are no balance of payments figures relating specifically to timber. In 1974 imports of timber—defined as Division 24 of the Standard International Trade Classification (Revised)—valued cif were £590 million, while exports valued fob were £6 million; thus the crude deficit—the difference between these figures—was 99 per cent. of the value of imports.