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European Economic Community

Volume 886: debated on Monday 10 February 1975

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asked the Secretary of State for Trade if he will break down the United Kingdom's crude trade deficit for 1974 with the original EEC six countries according to the Standard Industrial Trade Classification 0 to 9.

An analysis of the crude trade deficit can be obtained from the figures of the imports cif and exports fob in Tables II and V respectively in the December 1974 issue of the monthly Overseas Trade Statistics. The crude trade deficit—the difference between imports cif and exports fob—is not a good measure of the trade in goods because, inter alia, of differences in valuation. However, commodity figures of trade with the EEC are not available on a balance of payments basis.