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FRIDAY, JANUARY 23, 1981
+THE ACHIEVEMENTS OF THE DEPARTMENT OWE MUCH TO A FINE TRADITION OF DEDICATION AND DISCIPLINE UNDER THE LEADERSHIP OF YOUR COMMISSIONER AND HIS OFFICERS. I KNOW THE IMPORTANCE OF TRAINING AND AM THEREFORE EXTREMELY PLEASED THAT BUILDING WORK WILL SOON START ON THE EXTENSION OF THE STAFF TRAINING
INSTITUTE.
+1 CONGRATULATE YOU ALL ON THE SMARTNESS OF YOUR TURN OUT AND COMPLIMENT THE PARADE COMMANDER ON HIS NEW FORMATION. I WISH YOU EVERY SUCCESS IN THE YEAR AHEAD.+
PROVISIONAL TRADE FIGURES FOR DECEMBER 1980
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ACCORDING TO PROVISIONAL TRADE FIGURES FOR HONG KONG'S MERCHANDISE TRADE IN DECEMBER 1980, THE VALUE OF TOTAL EXPORTS FOR THE MONTH WAS $9 391 MILLION, MADE UP OF DOMESTIC EXPORTS AT $6 270 MILLION AND RE-EXPORTS AT $3 120 MILLION. WITH IMPORTS AT $11 306 MILLION, THE VISIBLE TRADE DEFICIT FOR DECEMBER WAS $1 915 MILLION.
FOR THE YEAR 1980 AS A WHOLE, THE VALUE OF TOTAL EXPORTS WAS $98 260 MILLION, MADE UP OF DOMESTIC EXPORTS OF $68 185 MILLION AND RE-EXPORTS OF $30 075 MILLION, WITH IMPORTS AT $111 681 MILLION, THE VISIBLE TRADE DEFICIT FOR LAST YEAR WAS $13 421 MILLION.
COMPARED WITH 1979, THERE WERE THE FOLLOWING INCREASES BY VALUE $12 273 MILLION OR 21.9 PER CENT FOR DOMESTIC EXPORTS, $10 053 MILLION OR 50,2 PER CENT FOR RE-EXPORTS, $22 326 MILLION OR 29.4 PER CENT FOR TOTAL EXPORTS AND $25 844 MILLION OR 30.1 PER CENT FOR IMPORTS.
THE VISIBLE TRADE +GAP+, THAT IS THE PROPORTION OF THE VALUE OF IMPORTS NOT COVERED BY THE VALUE OF TOTAL EXPORTS WAS 12 PER CENT ($13 421 MILLION) IN 1980, SLIGHTLY UP ON 11.5 PER CENT ($9 903 MILLION) RECORDED IN 1979.
THE
COMMENTING ON THESE FIGURES, A GOVERNMENT SPOKESMAN SAID VISIBLE TRADE IN 1980 AS A WHOLE CLEARLY HAD PROSPERED, WITH DOMESTIC EXPORTS, RE-EXPORTS AND IMPORTS ALL RECORDING GROWTH RATES SIGNIFICANTLY ABOVE THE TREND GROWTH RATES IN THE 1970'S.
PARTICULARLY IMPRESSIVE HAD BEEN THE GROWTH OF DOMESTIC EXPORTS AGAINST THE BACKGROUND OF UNFAVOURABLE ECONOMIC CONDITIONS IN HONG KONG'S MAIN MARKETS.
ON RE-EXPORTS, THE SPOKESMAN SAID HONG KONG'S ROLE AS AN ENTREPOT FOR THE REGION AS A WHOLE AND FOR CHINA IN PARTICULAR WAS ASSUMING INCREASING IMPORTANCE. THE GROWTH RATE OF RE-EXPORTS HAD BEEN ACCELERATING RAPIDLY OVER THE PAST THREE YEARS.
/NEVERTHELESS, WITH