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20.1
PERFORMANCE OF THE ECONOMY
(a)
General Situation
27.
The upturn in the Hong Kong economy, which
began in 1986, continued strongly in 1987. In the
first nine months of the year domestic exports
by 26 per cent in real terms compared with the first
nine months of 1986. Re-exports grew by as much as
49 per cent over the same period. This compares with
increases for 1986 as a whole of 16 per cent for
domestic exports and 14 per cent for re-exports.
This strong performance was assisted, in particular,
by the continued decline of the Hong Kong dollar, in
line with the US dollar under the linked exchange
rate system, against most other major currencies.
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CONFIDENTIAL
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