To ask the President of the Board of Trade in which years a deficit in invisible trade has been recorded since 1965; and what was the deficit. [7033]

[holding answer 19 December 1995]: The information is published by the Central Statistical Office as table 1.16 of the "Economic Trends" annual supplement. The publication is available in the Library of the House.

To ask the President of the Board of Trade in which year since 1965 the highest deficit in real terms has been recorded in (a) visible trade and (b) the balance of payments current account. [7053]

[holding answer 19 December 1995]: The visible trade deficit was equivalent to 6.2 per cent. of money GDP in 1974. The current account deficit was equivalent to 4.3 per cent. of GDP in 1989.