TUESDAY, NOVEMBER 26, 85
PROVISIONAL TRADE FIGURES FOR OCTOBER
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THE VALUE OF RE-EXPORTS GREW BY $538 MILLION OR 7 PER CENT IN OCTOBER 1985 OVER OCTOBER 1984 TO REACH $8 434 MILLION, WHILE THE VALUE OF DOMESTIC EXPORTS FELL BY $1 309 MILLION OR 11 PER CENT TO $11 164 MILLION, ACCORDING TO THE PROVISIONAL TRADE FIGURES PUBLISHED TODAY BY THE CENSUS AND STATISTICS DEPARTMENT.
TAKING DOMESTIC EXPORTS AND RE-EXPORTS TOGETHER, THE VALUE OF TOTAL EXPORTS DECLINED BY $771 MILLION OR 4 PER CENT TO $19 598 MILLION IN OCTOBER 1985. MEANWHILE, THE VALUE OF IMPORTS GREW BY $345 MILLION OR 2 PER CENT TO $19 966 MILLION.
IN CONSEQUENCE, A VISIBLE TRADE GAP (THAT IS, THE PROPORTION OF THE VALUE OF IMPORTS NOT COVERED BY THE VALUE OF TOTAL EXPORTS) OF 2 PER CENT WAS RECORDED IN OCTOBER 1985, COMPARED WITH A VISIBLE TRADE SURPLUS IN OCTOBER 1984 WHICH WAS EQUIVALENT TO 4 PER CENT OF THE VALUE OF IMPORTS.
PUTTING THE MONTH'S TRADE FIGURES INTO CONTEXT, A GOVERNMENT SPOKESMAN POINTED OUT THAT THE VALUE OF TOTAL EXPORTS FOR THE FIRST TEN MONTHS OF 1985 WAS $193 188 MILLION, MADE UP OF DOMESTIC EXPORTS OF $106 107 MILLION AND RE-EXPORTS OF $87 081 MILLION.
COMPARED WITH THE FIRST TEN MONTHS OF 1984, THE VALUES OF TOTAL EXPORTS AND OF RE-EXPORTS ROSE BY 7 PER CENT AND 31 PER CENT RESPECTIVELY, WHILE THE VALUE OF DOMESTIC EXPORTS FELL BY 7 PER CENT, OVER THIS PERIOD THE VALUE OF IMPORTS GREW BY 3 PER CENT TO $188 923 MILLION.
A VISIBLE TRADE SURPLUS, EQUIVALENT TO 2 PER CENT OF THE VALUE OF IMPORTS, WAS RECORDED FOR THE FIRST TEN MONTHS OF THIS YEAR, COMPARED WITH A VISIBLE TRADE GAP OF 1 PER CENT IN THE SAME PERIOD LAST YEAR.
COMMENTING ON THESE FIGURES, A GOVERNMENT SECRETARIAT SPOKESMAN SAID THAT THE CONTINUED DECLINE IN DOMESTIC EXPORTS (YEAR-ON-YEAR) WAS LARGELY ATTRIBUTABLE TO THE RELATIVELY LOW GROWTH RATES OF THE ECONOMIES OF HONG KONG'S EXPORT MARKETS. IN PARTICULAR THE UNITED STATES, IN THE FIRST THREE QUARTERS OF 1985.
THE FOLLOWING TABLE PRESENTS THE PROVISIONAL MERCHANDISE TRADE FIGURES FOR OCTOBER 1985 -
MERCHANDISE:
DOMESTIC EXPORTS
RE-EXPORTS
: $11 164 MILLION
: $ 8 434 MILLION
TOTAL EXPORTS
IMPORTS
: $19 598 MILLION
: $19 966 MILLION
TRADE BALANCE
: $ 368 MILLION
(IN DEFICIT)
/COMPARATIVE