BRITAIN’S TRADE Deficit in E.E.C.
(N.Z P A Reuter—Copyright)
LONDON, June 24.
Britain had a £93Bm deficit in its trade with the remainder of the European Economic Communitv in the {first five months of this year, compared with an £B43m deceit in the corresponding 1974 period, the Secretary of State for Trade (Mr Peter Shore) told Parliament yesterday.
i Britain’s trade deficit with (the other eight E.E.C. countries was an important argument used by those, Mr Shore among them, who [campaigned against Britain’s [continued membership of the (Communitv.
Britain had, for the first (time in three years, a substantial surplus in its over|all balance of payments with the remainder of the world |in May.
Department of Trade sources say that while imports from E.E.C countries in the first five months of 1975 were 15 per cent up, exports rose 17 per cent. The deficit had nevertheless increased largely because of the recent fall in the value of sterling against other European currencies.
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Bibliographic details
Press, Volume CXV, Issue 33878, 25 June 1975, Page 15
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162BRITAIN’S TRADE Deficit in E.E.C. Press, Volume CXV, Issue 33878, 25 June 1975, Page 15
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