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Volume 928: debated on Friday 18 March 1977

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asked the Secretary of State for Trade whether the United Kingdom's share of world trade in manufactures is rising or falling; and what movement in the exchange rate would be required to restore the United Kingdom's share to the levels of 1970 and 1960.

Provisional information for the first three quarters of 1976 indicates that the United Kingdom's share of the value of exports of manufactures by the main manufacturing countries has been falling. Over these three quarters, the average United Kingdom share was close to that in the year 1974 following the increase in 1975.Since the United Kingdom's share of trade in manufactures is dependent on many factors, both domestic and foreign, meaningful estimates cannot readily be made of the exchange rate adjustments required to restore this share to levels of earlier periods.