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World Trade

Volume 974: debated on Tuesday 27 November 1979

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asked the Chancellor of the Exchequer whether he will circulate in the Official Report a table showing for the period since 1963 the statistical correlation between, respectively, the United Kingdom share of world trade in manufactures and the relative volume of exports and imports of manufactures, and each of the following indices: relative export prices for manufactures, the terms of trade for manufactures, the index of relative normal unit labour costs, relative wholesale prices, export profitability and import price competitiveness.

No. The number of possible correlations, allowing for time

UNITED KINGDOM
Percentage change on previous year
Whole economy other than extraction of petroleum and natural gas and manufacturing industriesManufacturing industries
OutputOutput per persons employedOutputOutput per persons employed
(1)(2)(3)(4)
1971+2·6+3·6-1·1+2·8
1972+3·4+0·7+2·5+6·1
1973+4·5+1·6+8·8+7·6
1974-1·6-1·9-1·2-1·7
1975+0·2-0·9-7·0-1·8
1976+1·5+0·8+2·1+4·6
1977+1·4+1·4+1·6+0·5
1978+3·0+2·3+0·5+1·3
Column (1) Derived from output-based measure of gross domestic product (GDP(0)) excluding activities classified to exploration for, and extraction of, mineral oil, natural gas and natural gas condensates on land and offshore together with manufacturing industries.
Column (2) Derived from column (1)—representing output of non-manufacturing sectors, other than oil and gas—divided by the total employed labour force in that sector.
Column (3) Derived from the index of industrial production for manufacturing industries adjusted to allow for the use of delivery rather than production indicators in certain industries.
Column (4) Derived from regularly published estimates of output per person employed in the manufacturing industries.
Sources:
Central Statistical Office.
Department of Employment.