Dáil Éireann - Volume 264 - 12 December, 1972
Ceisteanna—Questions. Oral Answers. - Balance of Payments.
Dr. O'Connell Dr. O'Connell
31. Dr. O'Connell asked the Minister for Finance the current position in relation to this country's balance of payments; and how this figure compares with that for the same period last year.
Minister for Finance (Mr. Colley) George Colley
Minister for Finance (Mr. Colley): Balance of payments statistics are available only for calender years and I am accordingly unable to give the Deputy up-to-date data on the current external payments position for 1972.
External trade returns for the first ten months of the year show a rise in merchandise exports of £85.2 million and a rise in merchandise imports of £45.1 million. The import excess in this period was therefore £40.1 million lower than in the corresponding period of 1971.
Our surplus on net invisible receipts is likely to be some millions of pounds less in 1972 than in 1971 as a result of lower tourist receipts, but in the light of the trade returns it is clear that there will be a substantial improvement in 1972 in the balance of payments on current account as a whole.
Dáil Éireann 264 Ceisteanna—Questions. Oral Answers. Balance of Payments.