FRIDAY, JULY 25, 1980
PROVISIONAL TRADE FIGURES FOR JUNE 1980
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THE CENSUS AND STATISTICS DEPARTMENT TODAY PUBLISHED THE PROVISIONAL FIGURES FOR HONG KONG'S MERCHANDISE TRADE IN JUNE 1980.
THE VALUE OF TOTAL EXPORTS FOR JUNE WAS $8 457 MILLION, MADE UP OF DOMESTIC EXPORTS AT $6 079 MILLION AND RE-EXPORTS AT $2 378 MILLION.
WITH IMPORTS AT $8 824 MILLION, THE VISIBLE TRADE DEFICIT FOR JUNE WAS $367 MILLION WHICH WAS LESS THAN THAT FOR JUNE 1979.
COMPARED WITH THE SAME MONTH IN 1979, THE FOLLOWING INCREASES BY VALUE WERE RECORDED: $1 489 MILLION, OR 32 PER CENT, FOR DOMESTIC EXPORTS- $633 MILLION, OR 36 PER CENT, FOR RE-EXPORTS= AND $1 859 MILLION, DR 27 PER CENT, FOR IMPORTS.
COMMENTING ON THE JUNE FIGURES, A GOVERNMENT SPOKESMAN SAID THAT THE VALUE OF TOTAL EXPORTS WAS AGAIN GROWING FASTER THAN THAT OF IMPORTS, LARGELY A RESULT OF THE SLOW DOWN IN THE GROWTH RATE OF IMPORTS.
WITHIN TOTAL EXPORTS, THE GROWTH RATE OF THE VALUE OF RE-EXPORTS WAS STILL RAPID AND WAS FASTER THAN THAT OF DOMESTIC EXPORTS BUT THERE WERE SIGNS OF IT SLOWING DOWN.
COMPARING FIGURES FOR THE FIRST HALF OF THIS YEAR WITH THOSE OF THE FIRST HALF OF LAST YEAR, THE VALUE OF DOMESTIC EXPORTS WAS 33 PER CENT HIGHER, THE VALUE OF RE-EXPORTS WAS 44 PER CENT HIGHER, THE VALUE OF TOTAL EXPORTS WAS 36 PER CENT HIGHER AND THE VALUE OF IMPORTS WAS 35 PER CENT HIGHER.
THE SPOKESMAN FURTHER POINTED OUT THAT THE GROWTH RATE OF THE VALUE OF TOTAL EXPORTS IN THE FIRST HALF OF 1980 WAS SLIGHTLY HIGHER THAN THE GROWTH RATE OF THE VALUE OF IMPORTS BUT AS ENVISAGED BY THE FINANCIAL SECRETARY IN THE BUDGET SPEECH, THE GROWTH RATE OF IMPORTS HAD NOW ALMOST CAUGHT UP WITH THAT OF TOTAL EXPORTS,
AS A CONSEQUENCE, THE VISIBLE TRADE +GAP+, THAT IS THE PROPORTION OF THE VALUE OF IMPORTS WHICH IS NOT COVERED BY THE VALUE OF TOTAL EXPORTS, WAS 14.7 PER CENT IN THE FIRST HALF OF 1980, ONLY SLIGHTLY LESS THAN THE 15.3 PER CENT RECORDED IN THE FIRST HALF OF 1979.
BECAUSE RE-EXPORTS CONTINUED TO GROW FASTER THAN DOMESTIC EXPORTS, THE PROPORTION OF TOTAL EXPORTS ACCOUNTED FOR BY RE-EXPORTS INCREASED FROM 28.2 PER CENT IN THE FIRST HALF OF 1979 TO 29.8 PER CENT IN THE FIRST HALF OF 1980.
THE FOLLOWING .....