Hong Kong Economic & Financial Round-up
HONG KONG ECONOMY
Issue No. 9/92
Overview
In July, re-exports surged further while domestic exports also registered
a slight increase. Imports continued to rise significantly.
2.
After some temporary easing earlier this year, the labour market tightened up again in recent months. On the price front, consumer price inflation remained on a moderating trend.
3.
Local money market interest rates softened further during August. The market exchange rate of the Hong Kong dollar against the US dollar remained stable. In line with the weakening of the US dollar against other major currencies, the overall exchange value of the Hong Kong dollar fell further during August.
4.
In August, the local stock market suffered from the stalemate in the Sino-British negotiations on the financial arrangements for the new airport and related projects, as well as from the uncertainty over the US-China trade relationship. Both share prices and market turnover fell.
External trade
5
Re-exports rose sharply by 25.3% in value terms in July over a year earlier, following an increase of 39.7% in June. The value of domestic exports also showed a slight increase of 1.0% in July, having risen significantly by 12.2% in June. Meanwhile, the value of imports increased by 23.0%. The corresponding increase in June was 33.1%.
6.
In real terms, re-exports registered a substantial growth of 31% in the first half of 1992 over a year earlier, while domestic exports increased by 1%. Imports rose markedly by 23%.
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HONG KONG GOVERNMENT OFFICE
(17)