WEDNESDAY, AUGUST 28, 1985
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PROVISIONAL TRADE FIGURES FOR JULY
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THE VALUE OF RE-EXPORTS CONTINUED TO GROW IN JULY 1985, BY $1 877 MILLION OR 27 PER CENT OVER JULY 1984, TO REACH $8 915 MILLION, ACCORDING TO THE PROVISIONAL TRADE FIGURES PUBLISHED TODAY BY THE CENSUS AND STATISTICS DEPARTMENT.
THE VALUE OF DOMESTIC EXPORTS, HOWEVER, FELL OVER THE SAME PERIOD BY $1 519 MILLION, OR 12 PER CENT, TO $11 576 MILLION.
TAKING DOMESTIC EXPORTS AND RE-EXPORTS TOGETHER, THE VALUE OF TOTAL EXPORTS GREW BY $358 MILLION, OR TWO PER CENT, TO $20 491 MILLION.
MEANWHILE, THE VALUE OF IMPORTS FELL BY $945 MILLION, OR FIVE PER CENT, TO $18 862 MILLION. IN CONSEQUENCE, A VISIBLE TRADE SURPLUS, EQUIVALENT TO NINE PER CENT OF THE VALUE OF IMPORTS, WAS RECORDED IN JULY 1985, COMPARED WITH TWO PER CENT IN JULY 1984.
PUTTING THE MONTH'S TRADE FIGURES INTO CONTEXT, A GOVERNMENT SPOKESMAN POINTED OUT THAT THE VALUE OF TOTAL EXPORTS FOR THE FIRST SEVEN MONTHS OF 1985 WAS $133 541 MILLION, MADE UP OF DOMESTIC EXPORTS OF $71 984 MILLION AND RE-EXPORTS OF $61 557 MILLION.
COMPARED WITH THE FIRST SEVEN MONTHS OF 1984, THE VALUES OF TOTAL EXPORTS AND OF RE-EXPORTS ROSE BY 11 PER CENT AND 39 PER CENT RESPECTIVELY, WHILE THE VALUE OF DOMESTIC EXPORTS FELL BY FIVE PER CENT.
THE VALUE OF IMPORTS GREW BY FIVE PER CENT TO $131 634 MILLION. A VISIBLE TRADE SURPLUS, EQUIVALENT TO 1.4 PER CENT OF THE VALUE OF IMPORTS, WAS RECORDED FOR THE FIRST SEVEN MONTHS OF THIS YEAR, COMPARED WITH A VISIBLE TRADE GAP OF FOUR PER CENT IN THE SAME PERIOD LAST YEAR.
COMMENTING ON THESE FIGURES, A GOVERNMENT SECRETARIAT SPOKESMAN SAID THAT THE CONTINUED DECLINE IN DOMESTIC EXPORTS WAS LARGELY ATTRIBUTABLE TO THE SLOWING DOWN IN THE GROWTH RATE OF THE UNITED STATES ECONOMY IN THE FIRST HALF OF 1985 AND THE RELATIVE STRENGTH OF THE HONG KONG DOLLAR DURING MOST OF 1984
RE-EXPORTS, ON THE AND IN THE EARLY MONTHS OF THIS YEAR. OTHER HAND, CONTINUED TO EXPAND.
THE FOLLOWING TABLE PRESENTS THE PROVISIONAL MERCHANDISE TRADE FIGURES FOR JULY 19851
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