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.

Questions

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