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Non-Oil Trade Deficit

Volume 887: debated on Monday 3 March 1975

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asked the Secretary of State for Trade what the percentage increase in the United Kingdom's crude non-oil visible trade deficit was with the EEC, the United States of America, EFTA and the rest of the world between 1972 and 1974.

On an overseas trade statistics basis the percentage increases between 1972 and 1974 in our crude trade deficits on non-oil goods with the EEC(8) and EFTA were 294 and 180 respectively. There was a surplus of £42 million in our non-oil trade with the United States of America in 1972 and a deficit of £477 million in 1974. For the rest of the world there was a surplus in both 1972 and 1974, the percentage increase between the two years being 63.