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Treasury

Answer

Dr. Fox: To ask the Chancellor of the Exchequer what (a) proportion and (b) value of Britain's trade was conducted in (i) German marks, (ii) United States dollars and (iii) other European currencies in each of the last five years for which figures are available. [13764] Mrs. Liddell: The following two tables show the most recent official data on currency of invoice other than sterling, relating to 1984-1988. The data requested are only available for US dollars. Data for individual European currencies other than sterling are not available, although a special exercise to determine Deutschmark usage suggested that, in 1987 and 1988, this was 4 per cent. for exports and 14 per cent. for imports. Percentage of UK trade denominated in dollars and currency of partner country _________________________________________________________________________________________________. Year Denominated in dollars Denominated in currencies of partner countries Exports{2} Imports{3} Exports Imports 1984 15 25 22 41 1985 18 24 23 43 1986 20 17 26 46 1987 19 13 24 46 1988 15 16 24 41 _________________________________________________________________________________________________. {1}Including US for US/UK trade. {2}Export data based on November transactions except for 1987 which is based on May data. {3}Import data based on September transactions, except for 1987 which is based on March data. Value of UK trade denominated in dollars and currency of partner country £ million _________________________________________________________________________________________________. Year Denominated in dollars Denominated in currencies of partner countries{1} Exports Imports Exports Imports 1984 13,745 24,440 20,159 40,083 1985 18,367 23,757 23,469 42,565 1986 19,577 17,207 25,450 46,562 1987 20,215 14,526 25,535 51,399 1988 16,091 19,967 25,745 51,166 _________________________________________________________________________________________________. Source: "British Business" 17 January 1986 and 24 April 1987 (DTI) and "Business Bulletin" 15 December 1989 (CSO). Note: {1} Including US for US/UK trade.

Secondary information

Type

Written question

Reference

13764; 300 c101-2W

Session

1997-98

Subjects

Currencies Exports Imports Overseas trade Dollar Mark Franc

Contains statistics

Yes