WEDNESDAY, DECEMBER 24, 1986
3
PROVISIONAL TRADE FIGURES FOR NOVEMBER RELEASED
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THE STRONG GROWTH IN EXTERNAL TRADE CONTINUED IN NOVEMBER 1986. THE VALUE OF DOMESTIC EXPORTS IN NOVEMBER 1986, AT $14 870 MILLION, GREW BY 29.9 PER CENT OR #3 420 MILLION COMPARED WITH NOVEMBER 1985, WHILE THE VALUE OF RE-EXPORTS GREW BY 40.7 PER CENT OR $3 551 MILLION TO $12 275 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, AT $27 145 MILLION, WAS 34.6 PER CENT OR #6 971 MILLION HIGHER THAN IN NOVEMBER 1985.
THE VALUE OF IMPORTS GREW BY 28.2 PER CENT OR $5 729 MILLION OVER NOVEMBER 1985 TO $26 046 MILLION.
AS THE GROWTH IN THE VALUE OF TOTAL EXPORTS WAS FASTER THAN THAT OF IMPORTS, A VISIBLE TRADE SURPLUS EQUIVALENT TO 4.2 PER CENT OF THE VALUE OF IMPORTS WAS RECORDED IN NOVEMBER 1986, COMPARED WITH A VISIBLE TRADE GAP (THAT IS, THE PROPORTION OF THE VALUE OF IMPORTS NOT COVERED BY THE VALUE OF TOTAL EXPORTS) OF 0.7 PER CENT RECORDED IN NOVEMBER 1795.
PUTTING THE MONTH'S TRADE FIGURES INTO CONTEXT, A GOVERNMENT SPOKESMAN POINTED OUT THAT THE VALUE OF TOTAL EXPORTS FOR THE FIRST 11 MONTHS OF 1996 WAS #249 535 MILLION, MADE UP OF DOMESTIC EXPORTS OF $138 616 MILLION AND RE-EXPORTS OF $109 919 MILLION.
COMPARED WITH THE FIRST 11 MONTHS OF 1985, THE VALUE OF TOTAL EXPORTS GREW BY $35 173 MILLION OR 16.5 PER CENT, OF DOMESTIC EXPORTS BY $21 060 MILLION OR 17.9 PER CENT, AND OF RE-EXPORTS BY $14 113 MILLION OR 14.7 PER CENT.
OVER THIS PERIOD, THE VALUE OF IMPORTS GREW BY $39 247 MILLION OR 18.8 PER CENT, TO $248 487 MILLION. AS THE VALUE OF IMPORTS WAS VERY CLOSE TO THAT OF TOTAL EXPORTS, THE VISIBLE TRADE ACCOUNT WAS VIRTUALLY IN BALANCE IN THE FIRST 11 MONTHS OF 1986.
THIS COMPARES WITH A VISIBLE TRADE SURPLUS EQUIVALENT TO 2.0 PER CENT OF THE VALUE OF IMPORTS RECORDED IN THE FIRST 11 MONTHS OF 1985.
COMMENTING ON THESE FIGURES, A GOVERNMENT SECRETARIAT SPOKESMAN SAID THAT DOMESTIC EXPORTS HAVE EXHIBITED STRONG GROWTH IN RECENT MONTHS. ONE CONTRIBUTORY FACTOR WAS THE IMPROVED DEMAND FOR HONG KONG'S PRODUCTS IN MANY OF HONG KONG'S MAJOR OVERSEAS MARKETS.
/ANOTHER CONTRIBUTORY