10% in real
imports of capital goods grew by an estimated terms in the third quarter of
of 1986 over а year ago, after having recorded zero growth in the first quarter and a decline of 11% in the second quarter. Retained imports of industrial machinery for use in the manufacturing sector, in particular, grew by an estimated 238% in real terms in the first nine months of 1986 over the same period last year, following a decline of 4% in 1985
(5).
Re-exports
2.11
(6)
Re-exports
have
increased
again since April
1986, after having declined in the first quarter of the year. At $32,320 million, the value of re-exports in the
third quarter of 1986. was 24% higher than in the third quarter of 1985. This growth was made up of an estimated increase of 4% in prices, and a growth rate of about 20% in real terms. The recovery in re-exports was attributable, in part, to China's recent efforts in promoting its exports, resulting in more of its exports being channelled through Hong Kong to the overseas markets.
(5)
/Growth
Year-on-year growth rates in
in real terms of retained
retained imports of industrial machinery for use in the manufacturing sector and of domestic exports (%):
1982
1983
1984
1985
1986 Jan-Sept
(6)
Retained imports of industrial machinery for use in the manufacturing sector
Domestic
exports
-26
19
27
-4
23
CAREE
-3
14
17
-5
13
Re-exports are those products which have previously been imported into Hong Kong and subsequently re-exported without having undergone in Hong Kong any manufacturing process which changes permanently the shape, nature, form or utility of the product.
15