It was reported in an article in the September 1975 issue of the Bulletin that in May 1974 the Bank, with the support of the Federation of Commodity Associations, had undertaken a survey into the contribution of the commodity markets to the United Kingdom's invisible earnings. The survey was designed to provide an up-to-date estimate of earnings from the large physical trade in commodities between foreign countries which is handled by UK firms, and also to show the effects on the balance of payments of futures transactions (in which not only commodity firms, but other UK residents participate). This article gives the results of the survey for the period from June 1974 to May 1976. The co-operation of the many firms which took part in it is much appreciated.
Invisible earnings of the UK commodity markets