TUESDAY, NOVEMBER 11, 1986
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A COMMITMENT OF $3 740 000 FOR THE REPLACEMENT OF THE GEOSTATIONARY METEOROLOGICAL SATELLITE GROUND RECEPTION SYSTEM: AND
CHANGES TO THE APPROVED ESTIMATES OF EXPENDITURE APPROVED UNDER DELEGATED POWERS DURING THE SECOND QUARTER OF 1986-87 IN PURSUANCE OF SECTION 8 OF THE PUBLIC FINANCE ORDINANCE.
MEMBERS WILL ALSO BE ASKED TO APPROVE VARIOUS RECOMMENDATIONS OF THE ESTABLISHMENT SUB-COMMITTEE,
PRICE, VOLUME MOVEMENTS OF AUGUST EXTERNAL TRADE
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STATISTICS RELEASED TODAY BY THE CENSUS AND STATISTICS DEPARTMENT INDICATED THAT THE VOLUME OF DOMESTIC EXPORTS GREW BY 12 PER CENT IN THE FIRST EIGHT MONTHS OF 1986 AS COMPARED WITH THE SAME PERIOD LAST YEAR. THE VOLUME OF RE-EXPORTS INCREASED BY 4 PER CENT. HENCE, THERE WAS AN OVERALL INCREASE OF 8 PER CENT IN THE VOLUME OF TOTAL EXPORTS.
IMPORTS INCREASED BY 9 PER CENT IN VOLUME. ON THE SAME BASIS OF COMPARISON, THE PRICES OF DOMESTIC EXPORTS AND RE-EXPORTS ROSE BY 1 PER CENT AND 2 PER CENT RESPECTIVELY, SO THAT FOR TOTAL EXPORTS PRICES INCREASED BY 1 PER CENT.
PRICES OF IMPORTS ROSE BY 5 PER CENT. AS A RESULT, THE TERMS OF TRADE INDEX (EXPRESSED AS A RATIO OF THE TOTAL EXPORT PRICE INDEX TO THE IMPORT PRICE INDEX) DROPPED BY 3 PER CENT.
COMPARING AUGUST 1986 WITH AUGUST 1985, THE VOLUME OF DOMESTIC EXPORTS AND RE-EXPORTS INCREASED BY 22 PER CENT AND 17 PER CENT RESPECTIVELY. HENCE, TOTAL EXPORTS GREW BY 20 PER CENT IN VOLUME. IMPORT VOLUME INCREASED BY 15 PER CENT. OVER THE SAME PERIOD, THE PRICES OF DOMESTIC EXPORTS ROSE BY 1 PER CENT WHILE THOSE OF RE-EXPORTS ROSE BY 3 PER CENT. IMPORT PRICES ROSE BY 7 PER CENT.
PRICES ARE BASED ON UNIT VALUES WHICH DO NOT TAKE INTO ACCOUNT CHANGES IN THE COMPOSITION OR QUALITY OF GOODS TRADED, EXCEPT FOR SOME SELECTED COMMODITIES FOR WHICH SPECIFICATION PRICE INDEXES ARE COMPILED. THE VOLUME OF TRADE IS DERIVED FROM TRADE VALUES BY DISCOUNTING THE EFFECT OF PRICE CHANGES.
/EXTENDING THE