7
APPENDIX
UNITED KINGDOM BALANCE OF PAYMENTS
Imports
Overseas Government expenditure Exports and re-exports Invisibles (net)
United Kingdom current account Defence Aid (and E.R.P.)
Capital payments
...
Loss of gold reserves
ז'
Imports
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81
2nd half
1951. (actual) 1,851
(£ million) 1st half
1952
(forecast)
1,680
1952-53
(illustrative)
3,140
.
98
110
220
1,398
1,510.
2,770
122
205
530
429
75
60
15
80
200
133
260
(- 300)
547
255
(160)
UNITED KINGDOM BALANCE WITH NON-STERLING AREA
Overseas Government expenditure
Exports and re-exports
Invisibles (net)
Defence Aid (grants)
Current Account (including Defence
Aid grants)*
(£ million)
2nd half
1st half
1952-53
1951
1952
(actual)
(forecast)
(illustrative)
1,233
1,055
1,850
38
40
85
723
755
1,500
52
+
35
+
165
600
305
270
1
65
200
599
240
70
* Excluding non-sterling capital payments, which include commitments for repayment of United States and Canadian debt and of our debt to E.P.U., contractual and other reductions in non-sterling area countries' sterling balances, oil investment outside sterling area, &c., less similar receipts and offset by net earnings of non-sterling currency by rest of sterling area. The current deficit, plus these net capital payments, represents the loss of gold reserves.
REST OF STERLING AREA BALANCE WITH NON-STERLING AREA
2nd half 1951 (actual)
(£ million) 1st half
1952 (forecast)
945
2nd half
1952 (illustrative)
Imports
Exports and re-exports
Invisibles (net)
Gold sales and credits
Total
:
:
985
755
91
+143
795
75
178
J
+ 150
75
730
680
70
+ +
+ 140
20
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THIS DOCUMENT IS THE PROPERTY OF HER BRITANNIC MAJESTY'S GOVERNMENT