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Merchant Fleet (Overseas Earnings)

Volume 81: debated on Monday 17 June 1985

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asked the Secretary of State for Transport what is his estimate of the current contribution of British shipping to the United Kingdom balance of payments; and how this compares with the equivalent figures in 1965 and 1975, respectively, measured in 1985 values.

The net contribution of the United Kingdom shipping industry to the sea transport account of the United Kingdom balance of payments is provisionally estimated to be £547 million in 1984. The table shows the equivalent figures for 1965 and 1975 both at current prices and at constant 1980 prices. The 1980 price figures have been calculated using published constant 1980 price indices as a basis. Constant price estimates are complicated to construct and 1985 price figures are not available. Care is required in any interpretation of a net balance expressed at constant prices.

Net contribution of the United Kingdom shipping industry to the balance of payments sea transport account
£ million
Current prices130539547
Constant 1980 prices891,128591