asked the Taoiseach if he will state in respect of shipping services the inward receipts and outward expenditure entering the balance of payments statement in each of the years 1953 to 1955.
Ceisteanna—Questions. Oral Answers (resumed). - Shipping Services: Inward Receipts and Outward Expenditure.
The entry in Item 23 of the Balance of International Payments Statement in respect of shipping charges, etc., is the balance between a credit item representing the payments to Irish concerns for freight and insurance on imports and exports of merchandise and a debit item for payments to externs covering the cost of repairs, bunkers, stores, purchases of new ships, etc. This net entry amounted to £0.3 million in 1953, £1.0 million in 1954 and £1.0 million in 1955.
This item does not relate to all freight and insurance charges on merchandise trade or to charges for passenger traffic. Imports are valued on a c.i.f. basis in the Balance of International Payments and therefore take account of all freight and insurance charges to the place of importation. Allowance is also made in Item 14, "Net receipts in respect of tourism, travel, etc.", for the receipts of Irish transport companies and for the payment to externs by Irish residents in respect of passenger traffic.