TUESDAY, JULY 24, 1979
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GOVERNOR ON LOCAL LEAVE
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THE GOVERNOR SIR MURRAY MACLEHOSE, WILL BE TAKING TWO DAYS LOCAL LEAVE ON WEDNESDAY AND THURSDAY, 25TH AND 26TH JULY. DURING THIS PERIOD THE CHIEF SECRETARY, SIR JACK CATER, WILL BE DEPUTY TO THE GOVERNOR.
PROVISIONAL TRADE FIGURES FOR JUNE, 1979
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THE CENSUS AND STATISTICS DEPARTMENT TODAY (TUESDAY) PUBLISHED THE PROVISIONAL FIGURES FOR HONG KONG'S EXTERNAL MERCHANDISE TRADE DURING JUNE 1979.
THE VALUE OF TOTAL EXPORTS WAS $6,335 MILLION, MADE UP OF DOMESTIC EXPORTS OF $4,590 MILLION AND RE-EXPORTS OF $1,745 MILLION.
WITH IMPORTS AT $6,965 MILLION, THE VISIBLE TRADE DEFICIT WAS $630 MILLION WHICH WAS ACTUALLY LESS THAN THAT FOR JUNE 1978.
COMPARED WITH THE SAME MONTH IN 1978, THE VALUE OF DOMESTIC EXPORTS INCREASED BY 38 PER CENT AND THE VALUE OF RE-EXPORTS BY 63 PER CENT. SO THE VALUE OF TOTAL EXPORTS, THAT IS, DOMESTIC EXPORTS PLUS RE-EXPORTS, INCREASED BY 44 PER CENT,
THE VALUE OF IMPORTS, ON THE OTHER HAND, INCREASED BY 36 PER CENT.
A GOVERNMENT SPOKESMAN POINTED OUT THAT NOT ONLY HAS THE VALUE OF TOTAL EXPORTS CONTINUED TO GROW FASTER THAN THE VALUE OF IMPORTS BUT THE VALUE OF DOMESTIC EXPORTS ALSO GREW FASTER THAN THE VALUE OF IMPORTS.
COMMENTING FURTHER ON THE PROVISIONAL TRADE FIGURES, THE SPOKESMAN SAID THEY CONFIRM THE FINANCIAL SECRETARY'S VIEW STATED IN THE LEGISLATIVE COUNCIL LAST WEEK THAT THE ECONOMY IS BEGINNING TO ADJUST BY MEANS OF A RELATIVE SHIFT OF RESOURCES IN FAVOUR OF THE EXPORT SECTOR.
IN FACT, THE FIGURES LOOK SLIGHTLY BETTER THAN THE ESTIMATES USED BY THE FINANCIAL SECRETARY.
COMPARING FIGURES FOR THE FIRST HALF OF THIS YEAR WITH THOSE THE FIRST HALF OF LAST YEAR, THE VALUE OF DOMESTIC EXPORTS WAS 34 PER CENT HIGHER, THE VALUE OF RE-EXPORTS WAS 55 PER CENT HIGHER, THE VALUE OF TOTAL EXPORTS WAS 39 PER CENT HIGHER AND THE VALUE OF IMPORTS WAS 36 PER CENT HIGHER.
/THE SPOKESMAN