SATURDAY, SEPTEMBER 26, 1981
PROVISIONAL TRADE FIGURES FOR AUGUST 1981
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THE CENSUS AND STATISTICS DEPARTMENT TODAY PUBLISHED THE PROVISIONAL TRADE FIGURES FOR HONG KONG'S VISIBLE TRADE IN AUGUST 1981. THE VALUE OF TOTAL EXPORTS FOR AUGUST WAS $10 951 MILLION, MADE UP OF DOMESTIC EXPORTS AT $7 487 MILLION AND RE-EXPORTS AT $3 464 MILLION. WITH IMPORTS AT $11 262 MILLION, THE VISIBLE TRADE DEFICIT FOR AUGUST WAS $311 MILLION.
COMPARED WITH AUGUST 1980, THERE WERE THE FOLLOWING INCREASES BY VALUE: $718 MILLION OR 10,6 PER CENT FOR DOMESTIC EXPORTS, $768 MILLION OR 28.5 PER CENT FOR RE-EXPORTS, $1 486 MILLION OR 15.7 PER CENT FOR TOTAL EXPORTS AND $1 813 MILLION OR 19.2 PER CENT FOR IMPORTS.
COMMENTING ON THE FIGURES, A GOVERNMENT SPOKESMAN POINTED OUT THAT WHILE THE GROWTH RATE OF DOMESTIC EXPORTS IN AUGUST WAS SLIGHTLY LESS THAN IN PREVIOUS MONTHS, THE SEASONAL IMPROVEMENT IN THE VISIBLE TRADE ACCOUNT WHICH USUALLY OCCURS IN AUGUST WAS QUITE SUBSTANTIAL. THE VISIBLE TRADE DEFICIT DROPPED FROM $1 570 MILLION IN JULY TO $311 MILLION IN AUGUST AND THE VALUE OF IMPORTS DECREASED RATHER SUBSTANTIALLY BY $1 052 MILLION OR 8.5 PER CENT, TO THE LOWEST LEVEL FOR SIX MONTHS WHILE EXPORTS AND RE-EXPORTS BOTH ROSE TO RECORD LEVELS.
PUTTING THE AUGUST TRADE FIGURES INTO CONTEXT, THE GOVERNMENT SPOKESMAN POINTED OUT THAT COMPARING THE FIRST EIGHT MONTHS OF 1981 WITH THE FIRST EIGHT MONTHS OF 1980, THE GROWTH RATE OF IMPORTS, AT 26.4 PER CENT, WAS FASTER THAN THE GROWTH RATE OF TOTAL EXPORTS, AT 23.3 PER CENT. AS A CONSEQUENCE, THE VISIBLE TRADE +GAP+, THAT IS THE PROPORTION OF THE VALUE OF IMPORTS NOT COVERED BY THE VALUE OF TOTAL EXPORTS, WIDENED FROM 11.7 PER CENT IN THE FIRST EIGHT MONTHS OF 1980 TO 13.9 PER CENT IN THE FIRST EIGHT MONTHS OF 1981.
THE SPOKESMAN ADDED THAT THIS COMPARISON SHOWED A GROWTH RATE OF 14.7 PER CENT FOR THE VALUE OF DOMESTIC EXPORTS. DISCOUNTING FOR THE EFFECT OF PRICE INCREASES, THIS REPRESENTED
A GROWTH RATE IN REAL TERMS OF ABOUT 6 PER CENT, THIS HE CONSIDERED TO BE HIGHLY RESPECTABLE AGAINST THE BACKGROUND OF THE VERY UNFAVOURABLE ECONOMIC CONDITIONS PREVAILING IN HONG KONG'S MAJOR MARKETS.
THE CENSUS AND STATISTICS DEPARTMENT HAS RELEASED THE FOLLOWING PROVISIONAL MERCHANDISE TRADE FIGURES FOR AUGUST 1-
MERCHANDISE :
DOMESTIC EXPORTS
RE-EXPORTS
TOTAL EXPORTS
IMPORTS
TRADE BALANCE
: $ 7 487 MILLION
$ 3 464 MILLION
: $10 951 MILLION
$11 262 MILLION
311 MILLION (IN DEFICIT)
/COMPARATIVE FIGURES