asked the Minister for Finance whether the improvement in the balance of trade referred to by him in reply to a parliamentary question on 26th June is primarily due to a decrease in imports or to an increase in exports and re-exports for each of the first five months of 1952; and what is the percentage change in each for each of these months.
Ceisteanna—Questions. Oral Answers. - Balance of Trade.
The import surplus in the first five months of 1952 was £13.6 million less than in the corresponding period of 1951. This was the resultant of a fall in the value of imports and an increase in the value of exports. In the first three months of 1952 the import surplus fell by £2.7 million, as compared with the same period of 1951; increased exports, including re-exports, of £6.7 million being partially offset by a rise in the value of imports of £4,000,000. The import surplus in the months of April and May, 1952, declined by £10.9 million as compared with April and May, 1951. This improvement was brought about by both a reduction in imports and an increase in exports, imports falling by £7.4 million and exports, including re-exports, rising by £3.5 million.
The percentage changes in the value of imports and exports, including re-exports, in each of the first five months of 1952, as compared with the corresponding months of 1951, were as follows:
|
Month |
Imports |
Exports |
|
% |
% |
|
|
January |
+7.8 |
+ 49.8 |
|
February |
+14.3 |
+ 42.0 |
|
March |
+3.8 |
+ 34.1 |
|
April |
–17.3 |
+ 29.7 |
|
May |
–0.5 |
+ 36.1 |
You did not kill all the chickens.
It was a very salutary experience to read that out.
Very, indeed. It merely indicates the success of the Government's measures to reduce the balance of payments deficit by increasing production and exports and decreasing imports.
You have got it all twisted up.