THURSDAY, JULY 26, 1984
7
EXPORTS STAY ON UP SWING
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THE VALUE OF DOMESTIC EXPORTS IN JUNE 1984 ROSE BY 39 PER CENT OR $3 446 MILLION OVER THE SAME MONTH LAST YEAR, TO REACH $12 366 MILLION, ACCORDING TO PROVISIONAL FIGURES RELEASED BY THE CENSUS AND STATISTICS DEPARTMENT TODAY.
THE VALUE OF RE-EXPORTS ALSO INCREASED, BY 54 PER CENT
OR $2 386 MILLION, TO $6 775 MILLION.
THE VALUE OF TOTAL EXPORTS DOMESTIC EXPORTS PLUS RE-EXPORTS THUS REACHED $19 141 MILLION, 44 PER CENT OR $5 832 MILLION HIGHER THAN A YEAR AGO.
THE VALUE OF IMPORTS TOTALLED $19 378 MILLION IN JUNE 1984, UP 34 PER CENT OR $4 897 MILLION OVER THE SAME MONTH LAST YEAR.
THE VISIBLE TRADE DEFICIT FOR JUNE THIS YEAR WAS $237 MILLION, COMPARED WITH $1 172 MILLION IN JUNE LAST YEAR.
AS THE VALUE OF TOTAL EXPORTS CONTINUED TO INCREASE AT A 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 FURTHER TO ONE PER CENT IN JUNE 1984, COMPARED WITH EIGHT PER CENT IN JUNE 1983 AND THREE PER CENT IN MAY 1984.
PUTTING THE MONTH'S TRADE FIGURES INTO CONTEXT, A GOVERNMENT SPOKESMAN POINTED OUT THAT THE VALUE OF TOTAL EXPORTS FOR THE FIRST HALF OF 1984 WAS $99 884 MILLION, MADE UP OF DOMESTIC EXPORTS OF $62 641 MILLION AND RE-EXPORTS OF $37 243 MILLION.
COMPARED WITH THE FIRST HALF OF 1983, THE VALUE OF TOTAL EXPORTS INCREASED BY $32 748 MILLION OR 49 PER CENT, DOMESTIC EXPORTS BY $19 481 MILLION OR 45 PER CENT, AND RE-EXPORTS BY $13 267 MILLION OR 55 PER CENT.
THE VALUE OF IMPORTS INCREASED BY $29 481 MILLION, OR 39 PER CENT, TO $105 557 MILLION.
AS THE GROWTH RATE OF THE VALUE OF TOTAL EXPORTS WAS FASTER THAN THAT OF IMPORTS, THE VISIBLE TRADE GAP NARROWED TO FIVE PER CENT IN THE FIRST HALF OF 1984 FROM 12 PER CENT IN THE SAME PERIOD LAST YEAR.
COMMENTING ON THESE COMPARATIVE FIGURES, THE SPOKESMAN SAID THAT THE GROWTH IN EXPORTS HAD CONTINUED.
THE STRONG ORDER-BOOK POSITIONS, COUPLED WITH THE SUBSTANTIAL INCREASE IN RETAINED IMPORTS OF RAW MATERIALS AND SEMI-MANUFACTURES IN RECENT MONTHS, SUGGEST THAT EXPORT PERFORMANCE IN THE SHORT TERM WILL REMAIN ENCOURAGING.
THE FOLLOWING