1.   Scotch whisky is a major contributor to the UK trade balance, with a large trade surplus.

2.   The integration induced effects upon the trade balance can not be confined to the standard Vinerian concepts.

3.   The trade balance measures the flow of goods in and out of the country.

4.   Although acknowledging the deterioration of the trade balance in industrial goods, which indicated problems in competitiveness, the report played down the significance of the foreign trade deficit.

5.   The integration induced effects upon the trade balance cannot be confined to the standard Vinerian concepts.

6.   As expected the CU has strengthened the manufactured trade balance of West Germany.

7.   Significantly it has substantially weakened the trade balance of France, Italy and the United Kingdom.

8.   Negative valuations for Italy are perhaps surprising when her trade balance with the EC is always in surplus.

9.   It does not attempt to quantify the overseas impact of Scotch Whisky, except in terms of its contribution to the UK trade balance.

10.   Scotch Whisky is a major contributor to the UK trade balance, with a trade surplus three times the current trade surplus for oil!