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Trade Deficit

Volume 928: debated on Monday 21 March 1977

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asked the Secretary of State for Trade what is the visible trade deficit with the EEC on a balance of payments basis for the quarter December 1976 and January and February, provisional, 1977 expressed on a yearly basis.

Figures of visible trade with the EEC on a balance of payments basis are compiled only for calendar quarters. The latest available information relates to the fourth quarter of 1976, in which the United Kingdom's visible deficit with the EEC was £2,296 million at an annual rate. Our crude trade deficit with the EEC in the same period was £2,468 million at an annual rate, and in the three months December 1976-February 1977 was £2,500 million at an annual rate.