asked the Minister for Industry and Commerce if he will make a statement on the fact that this country's exports for February, 1975, are down in value on those of January, 1975, and that the March figures show a reduction in value on the February figures.
Ceisteanna—Questions. Oral Answers. - Value of Exports.
27.
The position is as set out in the Deputy's question, and figures for total exports in February and March, 1975, were down on those for January and February respectively. On the basis of the provisional figures so far available from the Central statistics Office for the first quarter of this year it appears that this trend can be attributed largely to a slackening of exports of agricultural, chemical and petroleum products.
I would, however, point out that total exports for the first three months of 1975 showed an increase of £56.3 million over those for the first three months of 1974.
In addition the Deputy will no doubt have seen the provisional figures for April, published on the 16th May, which show that the downward trend in exports referred to in his question has not continued.
Would the Minister indicate in regard to the industrial exports whether he has carried out any investigation into the decline he has mentioned and, if so, what is the cause of the decline?
The three categories I mentioned were agriculture, chemical and petroleum products. The Deputy's supplementary refers specifically to industrial ones, which I would take to mean chemical and petroleum products.
Well done.
It is arguable as to whether petroleum products are industrial. That is the point of the observation.
In the meantime, can the Minister say whether he has made any investigation?
In regard both to chemical and petroleum products, chemical exports held up very well but there is now a sharply declining demand in the UK and in other overseas markets: the same observations apply in regard to petroleum products. I would emphasise again that the trends referred to in the question which were the trends for February and January and for March and February have not continued and that there was an upturn in April.
The Minister seems to be indicating that the decline in these products was because of general economic conditions. Is that so?
Yes, there was a decline in the recipient markets—the areas to which these products are exported.
Can the Minister indicate why the economic recession conditions affected the exports for these months and not subsequently? It would seem that there is some particular reason for this decline and that the Minister has not investigated it with a view to taking some remedial action as one would expect him to do.
I gave the three causes for the decline in order of significance. Agriculture was the first, and the main cause was that in the months of January, February and March there was a sharp difference between the value of beef sold into intervention and the proportion shipped abroad exported, in other words.
I know about that and that it is arguable whether it should be included.
In the month of March the shortfall on that account was £13 million.
Borrowed from the Central Bank. Would the Minister be prepared to admit that all that has kept this sinking ship afloat during the past year or so has been the buoyancy of our agricultural exports and, that as these are now beginning to falter the outlook is bleak in the extreme?
While I am not prepared to admit to all the inferences in the Deputy's question I am pleased, as I think he is pleased, with the performance of industrial exports. The upturn in April is worth noting. I have tried to indicate that the February-March downturn was due in large part to the technical reason of there being a difference between beef sold into intervention and beef recorded as exported.