5
LON
WEDNESDAY, AUGUST 27, 1986
COMPARED WITH THE FIRST SEVEN MONTHS OF 1985, THE VALUE OF TOTAL EXPORTS GREW BY $9 701 MILLION OR 7.3 PER CENT, OF DOMESTIC EXPORTS BY $7 660 MILLION OR 10.6 PER CENT, AND OF RE-EXPORTS BY $2 041 MILLION OR 3.3 PER CENT, OVER THIS PERIOD, THE VALUE OF IMPORTS GREW BY $15 862 MILLION OR 12.1 PER CENT, TO $147 494 MILLION.
AS THE VALUE OF IMPORTS GREW AT A FASTER RATE THAN THAT OF TOTAL EXPORTS, A VISIBLE TRADE GAP OF 2.9 PER CENT WAS RECORDED IN THE FIRST SEVEN MONTHS OF 1986. COMPARED WITH A VISIBLE TRADE SURPLUS EQUIVALENT TO 1.4 PER CENT OF THE VALUE OF IMPORTS IN THE FIRST SEVEN MONTHS OF 1985.
COMMENTING ON THESE FIGURES, A GOVERNMENT SECRETARIAT SPOKESMAN SAID THAT THE RECOVERY IN DOMESTIC EXPORTS, WHICH STARTED TO TAKE OFF IN MARCH 1986, HAS GAINED FURTHER MOMENTUM IN RECENT MONTHS. THE DEPRECIATION OF THE U.S. DOLLAR, AND HENCE OF THE HONG KONG DOLLAR THROUGH THE LINKED EXCHANGE RATE SYSTEM, AGAINST MOST MAJOR CURRENCIES HAS ENHANCED THE COMPETITIVENESS OF HONG KONG'S EXPORTS.
THE VALUE OF RE-EXPORTS HAS RESUMED POSITIVE GROWTH SINCE APRIL 1986, AFTER HAVING DECLINED ON A YEAR-ON-YEAR BASIS IN THE FIRST QUARTER,
THE RECOVERY IN RE-EXPORTS WAS PARTLY RELATED TO CHINA'S EFFORT IN PROMOTING ITS EXPORTS WHICH HAD LED TO A RAPID INCREASE IN THE VALUE OF CHINA GOODS RE-EXPORTED THROUGH HONG KONG TO OTHER MARKETS.
THE FOLLOWING TABLE PRESENTS THE PROVISIONAL MERCHANDISE TRADE FIGURES FOR JULY 1986:
MERCHANDISE:
DOMESTIC EXPORTS
$14 270 MILLION
RE-EXPORTS
$10 564 MILLION
TOTAL EXPORTS
$24 834 MILLION
IMPORTS
$24 160 MILLION
TRADE BALANCE
$
674 MILLION
(IN SURPLUS)
COMPARATIVE FIGURE S
LATEST 3 MONTHS
MAY 86 TO JUL 86 HK$ MN.
MAY 85 TO JUL 85 HK$ MN.
INCREASE
HK$ MN.
DOMESTIC EXPORTS
39 150
33 348
珀
/RED EXPORTS
5 802 17.4