FRIDAY, APRIL 27, 1984
MARCH EXPORT FIGURES RISE SHARPLY
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THE VALUE OF DOMESTIC EXPORTS IN MARCH 1984 ROSE BY 59 PER CENT OR $3 883 MILLION, OVER THE MARCH 1983 FIGURE, TO REACH $10 503 MILLION, ACCORDING TO PROVISIONAL TRADE FIGURES PUBLISHED TODAY BY THE CENSUS AND STATISTICS DEPARTMENT.
THE VALUE OF RE-EXPORTS ALSO INCREASED SUBSTANTIALLY, BY
66 PER CENT OR $2 653 MILLION, TO $6 653 MILLION.
THE TOTAL VALUE OF DOMESTIC EXPORTS AND RE-EXPORTS TAKEN TOGETHER, AT $17 156 MILLION, WAS 62 PER CENT OR $6 536 MILLION HIGHER THAN A YEAR EARLIER.
THE VALUE OF IMPORTS REACHED $18 144 MILLION IN MARCH 1984, AN INCREASE OF 46 PER CENT OR $5 704 MILLION OVER THE CORRESPONDING MONTH LAST YEAR.
THE VISIBLE TRADE DEFICIT FOR MARCH THIS YEAR WAS $988 MILLION, COMPARED WITH $1 820 MILLION IN MARCH LAST YEAR,
AS THE VALUE OF TOTAL EXPORTS INCREASED AT A MUCH FASTER RATE THAN THAT OF IMPORTS, THE VISIBLE TRADE GAP, THAT IS THE PROPORTION OF THE VALUE OF IMPORTS NOT COVERED BY THAT OF TOTAL EXPORTS, NARROWED CONSIDERABLY TO FIVE PER CENT IN MARCH 1984, FROM 15 PER CENT IN MARCH 1983.
PUTTING THE MONTH'S TRADE FIGURES INTO CONTEXT, A GOVERNMENT SPOKESMAN POINTED OUT THAT THE VALUE OF TOTAL EXPORTS IN THE FIRST QUARTER OF 1984 WAS 54 PER CENT OR $16 057 MILLION HIGHER THAN IN THE SAME QUARTER LAST YEAR.
THIS OVERALL INCREASE WAS MADE UP OF AN INCREASE OF 51 PER CENT OR $9 487 MILLION FOR DOMESTIC EXPORTS AND AN INCREASE OF 59 PER CENT OR $6 570 MILLION FOR RE-EXPORTS. THE VALUE OF IMPORTS, ON THE OTHER HAND, WAS 43 PER CENT OR $14 651 MILLION HIGHER. AS A RESULT, THE VISIBLE TRADE GAP IN THE FIRST QUARTER OF THIS YEAR WAS ONLY SIX PER CENT, COMPARED WITH 13 PER CENT IN THE FIRST QUARTER OF 1983.
COMMENTING ON THESE COMPARATIVE FIGURES, THE SPOKESMAN SAID THAT THE LARGE GROWTH RATES IN MONEY TERMS PARTLY REFLECTED THE WEAK TRADE PERFORMANCE IN THE FIRST QUARTER OF 1983, SINCE THE EXPORT RECOVERY DID NOT REALLY BEGIN UNTIL THE SECOND QUARTER OF THAT YEAR.
+NEVERTHELESS, EVEN AFTER ALLOWING FOR PRICE INCREASES, THE GROWTH RATES IN REAL TERMS WOULD STILL BE SUBSTANTIAL, INDICATING THAT THE STRONG TRADE PERFORMANCE HAS CONTINUED,+ HE SAID.
/THE FOLLOWING ...