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FRIDAY, OCTOBER 24, 1986
PUTTING THE MONTH'S TRADE FIGURES INTO CONTEXT, A GOVERNMENT SPOKESMAN POINTED OUT THAT THE VALUE OF TOTAL EXPORTS FOR THE FIRST NINE MONTHS OF 1986 WAS $193 739 MILLION, MADE UP OF DOMESTIC EXPORTS OF $108 382 MILLION AND RE-EXPORTS OF $85 357 MILLION.
COMPARED WITH THE FIRST NINE MONTHS OF 1985, THE VALUE OF TOTAL EXPORTS GREW BY $20 149 MILLION OR 11.6 PER CENT, OF DOMESTIC EXPORTS BY $13 440 MILLION OR 14.2 PER CENT, AND OF RE-EXPORTS BY $6 709 MILLION OR 8.5 PER CENT.
OVER THIS PERIOD, THE VALUE OF IMPORTS GREW BY $25 482 MILLION OR 15.1 PER CENT, TO $194 439 MILLION.
AS THE VALUE OF IMPORTS GREW AT A FASTER RATE THAN THAT OF TOTAL EXPORTS, A VISIBLE TRADE GAP OF 0.4 PER CENT WAS RECORDED IN THE FIRST NINE MONTHS OF 1986, COMPARED WITH A VISIBLE TRADE SURPLUS EQUIVALENT TO 2,7 PER CENT OF THE VALUE OF IMPORTS IN THE FIRST NINE MONTHS OF 1985.
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COMMENTING ON THESE FIGURES, A GOVERNMENT SECRETARIAT SPOKESMAN SAID THAT RECOVERY IN DOMESTIC EXPORTS HAS GATHERED MOMENTUM IN THE RECENT MONTHS. ONE CONTRIBUTORY FACTOR WAS THE IMPROVED DEMAND FOR HONG KONG'S PRODUCTS IN SOME OF THE MAJOR OVERSEAS MARKETS.
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THE DEPRECIATION OF THE HONG KONG DOLLAR, IN LINE WITH THAT OF THE U.S. DOLLAR UNDER THE LINKED EXCHANGE RATE SYSTÉM, AGAINST MOST MAJOR CURRENCIES HAS ALSO HELPED.
HE ADDED THAT THE VALUE OF RE-EXPORTS CONTINUED TO INCREASE SHARPLY IN SEPTEMBER. THIS, IN PART, REFLECTED CHINA'S EFFORTS IN PROMOTING ITS EXPORTS, RESULTING IN MORE CHINESE GOODS BEING CHANNELLED THROUGH HONG KONG TO THE OVERSEAS MARKETS.
THE FOLLOWING TABLE PRESENTS THE PROVISIONAL MERCHANDISE TRADE FIGURES FOR SEPTEMBER 1986:
MERCHANDISE:
DOMESTIC EXPORTS :
$13 940 MILLION
RE-EXPORTS
$11 131 MILLION
TOTAL EXPORTS
$25 071 MILLION
IMPORTS
$23 451 MILLION
TRADE BALANCE
$1 620 MILLION
(IN SURPLUS)
'COMPARATIVE FIGURES
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