CAB129-52 — Page 81

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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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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