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Balance Of Trade

Volume 163: debated on Monday 4 December 1989

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To ask the Chancellor of the Exchequer what assessment he has made of the reasons for the United Kingdom's deficit on trade in invisibles with the European Economic Community and its surplus with the rest of the world.

The deficit on invisibles transactions with European Community countries and institutions reflects deficits on services, including foreign travel, and transfers. Surpluses on interest profits arid dividends and on financial and other services make important contributions to the non-European Community invisibles surplus.