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origin fell by 22%.
to
the changing
increased by 18% in value terms in the first half of 1991
compared with the same period in 1990, those of China
This declining trend was probably due
increased competition from other sources of supply and
pattern of local demand. But it was also
likely that, as the outward processing activities became
more mature and better organised, an increasing proportion of the goods from China which were produced under outward
processing arrangements could be shipped out as re-exports
through Hong Kong to overseas markets rather than as
imports into Hong Kong for further processing. This was in
line with the fact that re-exports of consumer goods from
China in the first half of 1991, which accounted for 73% of
Hong Kong's total re-exports' of China origin in that
over the same
period, increased by 33% in value
period in 1990.
29.
terms
Putting these trade figures in perspective, Hong Kong incurred a visible trade deficit of HK$37,396 million
with China in the first half of 1991, representing an increase of 17% over the same period in 1990.
1991 01
(HK$Mn)
1991 02 (HK$Mn)
1991 H1 (HK$Mn)
Domestic exports to China
10,247
14,057
24,303
Re-exports to China
28,842
38,587
67,530
Total exports to China
39,089
52,744
91,833
Imports from China*
57,174
72,056
129,229
Total visible trade with
China
96,263
124,800
221,063
Visible trade balance
-18,085
-19,311
-37,396
with China
* This is slightly larger than imports of China origin because a small proportion of the goods imported from China are produced in other places like Japan, the United States, Taiwan and South Korea.
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