asked the Taoiseach what would have been the value of (a) imports, (b) exports and (c) import excess for (1) such period of 1959 for which information is available, and (2) the similar period of 1957, had the terms of trade remained at the level prevailing in February, 1957.
Written Answers. - Value of Imports and Exports.
30.
It is not possible to give quantitative expression to the effect of changes in the terms of trade on the volume of imports and exports. What can be done is to estimate the value, at price levels prevailing in one period of the quantum of imports and exports recorded in a different period. The following statement sets out the estimated value at February, 1957 prices of the imports, total exports and import excess for each of the months Jan.-May, 1957, and Jan.-May, 1959. In preparing these estimates the official import and domestic export price (unit value) index numbers were used to revalue the current totals at February, 1957 prices.
Following is the statement:—
ESTIMATED Value of External Trade at February, 1957 Prices
|
Period |
Imports |
Total Exports |
Import Excess |
|||
|
1957 |
1959 |
1957 |
1959 |
1957 |
1959 |
|
|
£million |
||||||
|
January |
16.5 |
20.5 |
11.2 |
8.6 |
5.3 |
11.9 |
|
February |
15.5 |
18.6 |
10.3 |
9.7 |
5.2 |
8.9 |
|
March |
16.2 |
19.9 |
11.2 |
9.9 |
5.0 |
9.9 |
|
April |
14.7 |
21.2 |
10.7 |
9.3 |
4.0 |
11.8 |
|
May |
17.6 |
18.8 |
10.7 |
8.7 |
6.9 |
10.2 |
|
January—May |
80.5 |
98.9 |
54.2 |
46.3 |
26.3 |
52.7 |