2.17
During the first
half of the year, the rate of
increase in the prices
the prices of domestic exports at 5% was faster
than that of imports at 2%. In consequence, the terms of
trade index
to 99, from 98 in December
1981 (6).
•
(5)
Invisible trade
2.18
increased
While the number of incoming tourists was 4% higher
than in the first half of 1981, the number of Hong Kong
residents touring abroad (including Macau and China) was also
4% higher. The continued growth in cargo movements (paragraph
5.19) suggests that the net surplus on expenditure on both
shipping and air transportation services might have increased
also. Half-yearly estimates on the imports and exports of other services are not available(7).
(5) The terms of trade index is the ratio between the unit value index of
domestic exports and that of imports.
(6)
(1981=100)
Unit value indexes
Terms of trade index
Domestic
exports
Imports
1981
H1
97
97
100
H2
103
103
100
Dec
102
104
98
1982
Q1
104
107
97
Apr
105
105
100
May
106
105
101
June
107
106
101
H1(*)
105
106
99
Note:
(*)
Estimated by using trade indexes available up to May
1982.
(7) Surveys on import and export of services are conducted annually; as a
result only annual estimates are available.
16