CHAPTER 1: OVERALL VIEW
Introduction
1.1
This report for the third quarter of 1983
updates the analysis in the Half-Yearly Economic Report
1983 and assesses subsequent developments using currently
available statistics.
Exports and domestic demand
1.2
a
number of other
to
The export sector has clearly rebounded since the beginning of this year, mainly due to the recovery in the US economy. The economic performances and outlooks of major export markets have also improved. The year-on-year growth rate in real terms of
domestic exports accelerated
about 19% in the third
quarter, from 14% in the second quarter and 3% in the
first quarter of this year (paragraph depreciation of the Hong Kong dollar (paragraph 3.11), coupled with the rather favourable shifts in the internal cost/price structure, has enhanced Hong Kong's external
competitiveness.
2.1).
The
1.3
Given that the year-on-year growth rate in real
terms of retained imports of raw materials and semi-manufactures increased rapidly in the third quarter of this year (paragraph 2.8) and that the volume of orders held by a
selection of large manufacturers continued to be encouraging (paragraph 5.2), it is likely that domestic exports will remain strong in the fourth quarter.
1
/ 1.4 Domestic