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European Community (Balance Of Trade)

Volume 976: debated on Thursday 20 December 1979

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asked the Secretary of State for Trade what has been the total deficit or surplus in trade with the EEC nations in the period since Great Britain joined the European Economic Community; and what was the comparable deficit or surplus in the same period before Great Britain joined the Community.

Information on the United Kingdom's visible trade balance with EEC is available up to Q3 1979. However, as quarterly figures prior to 1970 have not been compiled, it is not possible to derive a cumulative balance for the period of six and three quarter years prior to accession.As the relevant information is readily available in published statistics, I refer my hon. Friend to table A3 of the November issue of the "Monthly Review of External Trade Statistics", which gives the United Kingdom figures annually from 1964 and quarterly from 1977. A copy of this publication is in the House of Commons Library.These figures need to be interpreted with caution, given the substantial inflation which has occurred over the period.