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JARDINE MATHESON
MATHESON & CO
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AIDE MEMOIRE UK/HK Trade 1989 Statistics
Although the UK trade statistics show a £925 million trade deficit, the real position is not nearly so serious if re-exports both ways round are deducted, as it reduces to £425 million.
Perhaps there should be a re-examination of the way in which the figures are presented, as the gross deficit trends to get played up by those who maintain HK is of no value to the U.K.:
HK Statistics
(HK$ K)
14,638
UK Statistics (f M)
Ex rate Ratio
Domestic exports
Re exports
Total exports:
Imports:
UK deficit:
Adjusted for re-exports
8,918
23,556
12.965
10,591
Exports:
HK$ M
14,638
£ M
1266
(11.56/£1)
Imports:
12,965
less re-exports (UK origin)
$3,151
9.814
842
(11.66/£1)
UK Deficit:
4,824
424
*After deducting assumed
margin of 15%.
Imports:
2,037
$11.56/£1
Exports:
Deficit:
1.112
925
$11.66/£1