To ask the Chancellor of the Duchy of Lancaster what is the latest estimate of the United Kingdom surplus or deficit in trade in manufactures with the European Economic Community, the United States of America, the European Free Trade Association, Japan and the rest of the world, respectively, during the last recent 12 months for which figures are available.
Because of the introduction in January 1988 of the new Standard International Trade Classification (SITC Rev 3) figures for trade in manufactures by country are not at present available on a consistent basis between 1987 and 1988.
| United Kingdom Crude Balance of Trade in Manufactures | ||
| Overseas Trade Statistics basis3 £ billion | ||
| 19871 | 19882 | |
| Jan to Feb | ||
| European Community | -11·1 | -2·5 |
| USA | +0·9 | — |
| EFTA | -3·1 | -0·7 |
| Japan | -4·2 | -0·7 |
| Rest of World | +7·5 | +1·0 |
1 Standard International Trade Classification Revision 2.
2 Standard International Trade Classification Revision 3.
3 The figures on the OTS basis include insurance and freight
charges for imports, but not for exports, so surpluses are understated and deficits are overstated by comparison with Balance of Payments data, which are not available by partner country.
Source: United Kingdom Overseas Trade Statistics.