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SUNDAY, AUGUST 30, 1981
PROVISIONAL TRADE FIGURES FOR JULY 1981
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THE CENSUS AND STATISTICS DEPARTMENT TODAY PUBLISHED THE PROVISIONAL TRADE FIGURES FOR HONG KONG'S VISIBLE TRADE IN JULY 1981. THE VALUE OF TOTAL EXPORTS FOR JULY WAS $10 744 MILLION, MADE UP OF DOMESTIC EXPORTS AT $7 362 MILLION AND RE-EXPORTS AT $3 382 MILLION, WITH IMPORTS AT $12 314 MILLION,
THE VISIBLE TRADE DEFICIT FOR JULY WAS $1 570 MILLION.
COMPARED WITH JULY 1980, THERE WERE THE FOLLOWING INCREASES BY VALUE: $1 275 MILLION OR 20.9 PER CENT FOR DOMESTIC EXPORTS, $959 MILLION OR 39.6 PER CENT FOR RE-EXPORTS, $2 233 MILLION OR 26.2 PER CENT FOR TOTAL EXPORTS AND $3 121 MILLION OR 33.9 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 12.7 PER CENT IN JULY THIS YEAR, COMPARED WITH 7.4 PER CENT
IN JULY 1980.
COMMENTING ON THE FIGURES, A GOVERNMENT SPOKESMAN EMPHASISED THAT THE PERFORMANCE OF THE DOMESTIC EXPORT SECTOR IN JULY WAS REMARKABLE. AS THE PRICES OF DOMESTIC EXPORTS HAVE INCREASED ONLY MODERATELY SINCE OCTOBER 1980, THE GROWTH RATE IN MONEY TERMS AT 21 PER CENT OVER JULY 1980 IMPLIES THAT THE GROWTH RATE IN REAL TERMS WAS PROBABLY GREATER THAN 10 PER CENT. BUT HE CAUTIONED THAT TOO MUCH SHOULD NOT BE READ INTO ONE MONTH'S FIGURES.
CONCERNING THE RAPID GROWTH IN THE VALUE OF IMPORTS IN JULY THIS YEAR (33.9 PER CENT, COMPARED WITH JULY 1980), THE SPOKESMAN SAID THAT THIS WAS PARTLY A REFLECTION OF THE CONTINUING RAPID GROWTH IN THE VALUE OF RE-EXPORTS (UP BY 39.6 PER CENT, FOR JULY THIS YEAR COMPARED WITH JULY 1980).
BUT, HE ADDED, THE FACT THAT THE VALUE OF IMPORTS WAS GROWING FASTER THAN THE VALUE OF TOTAL EXPORTS SUGGESTED THE GROWTH RATE OF DOMESTIC DEMAND HAD PROBABLY BEEN SUBSTANTIAL.
PUTTING THE MONTH'S FIGURE INTO CONTEXT, THE GOVERNMENT SPOKESMAN POINTED OUT THAT COMPARING THE FIRST SEVEN MONTHS OF 1981 WITH THE FIRST SEVEN MONTHS OF 1980, THE GROWTH RATE OF IMPORTS, AT 27.5 PER CENT, WAS FASTER THAN THE GROWTH RATE OF TOTAL EXPORTS, AT 24.6 PER CENT.
/AS A