asked the Chancellor of the Exchequer (1) if he will publish in the Official Report a table showing (a) for each year from 1948 to 1978 and for each quarter from the beginning of 1976 the five indices of competitiveness used by his Department plus the United Kingdom share of extra-EEC trade in manufactures based on trade in, respectively, 1961, 1970 and 1975 and (b) for each of these three series the rank and degree of correlation between each of the five measures of competitiveness and the share of extra-EEC trade, assuming a lag of six months and 12 months between changes in price and changes in volume;(2) if he will publish in the
Official Report a table showing ( a) for each year from 1948 to 1978 and for each quarter from the beginning of 1976 the five indices of competitiveness used by his Department plus the United Kingdom terms of trade and relative volume for manufactures based on trade in, respectively, 1961, 1970 and 1975 and ( b) for each of these three series the rank and degree of correlation between each of the six measures of competitiveness and the relative volume, assuming a lag of six months and 12 months between changes in prices and changes in volume.
asked The information which is readily available is set out in the table below. The definitions of the measures of competitiveness are given in Economic Trends and in the Monthly Review of External Trade Statistics—MRETS—where the most recent figures are published regularly. Information on the United Kingdom's share of trade in various markets is published in the MRETS. I regret that the remaining parts of these questions could only be answered at disproportionate cost.
Index numbers 1975 = 100
| ||||||||||||
Relative export prices
| Import price competitiveness
| Relative wholesale prices
| Relative normal unit labour costs
| Relative profitability of exporting
| Terms of trade in manufactures
| Relative volume of trade in manufactures
| ||||||
(OTS basis)
| ||||||||||||
1954 | … | … | … | … | … | — | — | — | — | — | 89 | 261 |
1955 | … | … | … | … | … | 98·5 | — | — | — | 96·3 | 83 | 225 |
1956 | … | … | … | … | … | 99·5 | — | — | — | 95·1 | 85 | 237 |
1957 | … | … | … | … | … | 99·6 | — | — | — | 94·4 | 94 | 231 |
1958 | … | … | … | … | … | 102·2 | — | — | — | 94·3 | 100 | 218 |
1959 | … | … | … | … | … | 103·2 | — | — | — | 93·5 | 97 | 199 |
1960 | … | … | … | … | … | 103·1 | — | — | — | 93·9 | 96 | 156 |
1961 | … | … | … | … | … | 103·1 | — | — | — | 92·2 | 98 | 165 |
1962 | … | … | … | … | … | 105·2 | — | — | — | 92·5 | 101 | 162 |
1963 | … | … | … | … | … | 106·3 | — | — | — | 93·9 | 102 | 161 |
1964 | … | … | … | … | … | 106·3 | — | — | — | 93·5 | 101 | 137 |
1965 | … | … | … | … | … | 108·8 | — | — | — | 94·3 | 101 | 144 |
1966 | … | … | … | … | … | 111·1 | — | — | — | 95·6 | 102 | 141 |
1967 | … | … | … | … | … | 110·0 | — | — | — | 96·7 | 103 | 122 |
1968 | … | … | … | … | … | 103·5 | — | — | — | 100·9 | 98 | 119 |
1969 | … | … | … | … | … | 102·8 | — | — | — | 100·8 | 97 | 127 |
1970 | … | … | … | … | … | 103·9 | — | — | 102·7 | 100·2 | 99 | 120 |
1971 | … | … | … | … | … | 106·2 | — | — | 105·9 | 95·9 | 103 | 119 |
1972 | … | … | … | … | … | 106·2 | — | — | 104·5 | 95·5 | 105 | 103 |
1973 | … | … | … | … | … | 97·5 | 95·9 | 95·7 | 92·4 | 98·2 | 96 | 97 |
1974 | … | … | … | … | … | 96·0 | 100·5 | 95·6 | 96·4 | 98·6 | 93 | 97 |
1975 | … | … | … | … | … | 100·0 | 100·0 | 100·0 | 100·0 | 100·0 | 100 | 100 |
1976 | … | … | … | … | … | 97·6 | 93·7 | 93·8 | 92·6 | 103·6 | 99 | 100 |
Index numbers 1975 = 100
| |||||||
Relative export prices
| Import price competitiveness
| Relative wholesale prices
| Relative normal unit labour costs
| Relative profitability of exporting
| Terms of trade in manufactures
| Relative volume of trade in manufactures
| |
(OTS basis)
| |||||||
1977 | 103·0 | 96·4 | 99·8 | 88·8 | 103·6 | 101 | 98 |
1978 | — | 97·4 | — | 95·4 | 103·9 | 103 | 88 |
1976— | |||||||
First quarter | 102·0 | 97·3 | 100·6 | 100·7 | 100·9 | 101 | 104 |
Second quarter | 96·4 | 94·1 | 93·2 | 93·1 | 102·5 | 98 | 98 |
Third quarter | 97·9 | 92·8 | 92·7 | 91·7 | 104·4 | 98 | 99 |
Fourth quarter | 94·2 | 90·5 | 88·6 | 84·7 | 106·2 | 97 | 98 |
1977— | |||||||
First quarter | 98·8 | 94·4 | 96·1 | 88·2 | 103·7 | 99 | 99 |
Second quarter | 102·2 | 96·9 | 98·8 | 87·3 | 103·4 | 100 | 93 |
Third quarter | 103·6 | 96·8 | 100·8 | 88·2 | 103·6 | 102 | 103 |
Fourth quarter | 107·2 | 97·4 | 103·5 | 91·6 | 103·5 | 103 | 97 |
1978— | |||||||
First quarter | 110·5 | 98·9 | 107·0 | 95·8 | 102·9 | 104 | 91 |
Second quarter | 104·2 | 96·9 | 100·8 | 93·1 | 103·3 | 103 | 84 |
Third quarter | 107·4 | 96·9 | 102·2 | 95·8 | 104·2 | 103 | 89 |
Fourth quarter | — | 96·9 | — | 96·8 | 105·2 | 103 | 88 |
1979— | |||||||
First quarter | — | 98·6 | — | 98·7 | 104·9 | 104 | 77 |
Second quarter | — | 107·1 | — | — | 101·7 | 107 | 80 |
Note: The information used in compiling these estimates has been linked as necessary. The quality of the estimates for earlier years is lower than that for the ater years. |