11 April 1983
Mr Ray Whitney (Wycombe):
To ask the Secretary of State for Foreign and Commonwealth Affairs, what was the balance of trade between the United Kingdom and Hong Kong for the last five years for which figures are available; and what is the net revenue to the United Kingdom Government that arises as a result of Hong Kong's status as a dependent territory.
No 154W
MR DOUGLAS HURD
The following table shows the balance of visible trade between
the United Kingdom and Hong Kong for the period 1978-82:
1978
£m
1979
£m
1980
£m
1981
£m
1982
£m
Exports to Hong Kong (FOB)
361.7
439.4
559.2
614.0
732.5
Imports from Hong Kong (CIF)
527.8
689.2
849.8
896.6
872.5
Balance
-166.1 -249.8 -290.6 -282.6 -140.0
No authoritative figures for invisibles are available, but it is clear
that in this sector the United Kingdom has a surplus. The United
Kingdom does not impose taxes on Hong Kong, and thus receives no direct
revenue from there. There are some relatively small budgetary
transactions with the Territory, for example concerning defence. These have in the past led to a net cost to the United Kingdom, but Hong Kong has assumed a greater proportion of costs in recent years.
No comments yet.
Private notes are available after approval.