24
WEDNESDAY, JANUARY 25, 1989
PROVISIONAL TRADE FIGURES FOR DECEMBER RELEASED
*
HONG KONG'S EXTERNAL TRADE CONTINUED TO SHOW MARKED INCREASES IN DECEMBER 1988, ALTHOUGH THE YEAR-ON-YEAR GROWTH RATRS OF THE VARIOUS TRADE AGGREGATES WERE NOT AS HIGH AS IN NOVEMBER.
THIS IS SHOWN BY THE PROVISIONAL TRADE FIGURES RELEASED TODAY {WEDNESDAY) BY THE CENSUS AND STATISTICS DEPARTMENT.
+
THE VALUE OF DOMESTIC EXPORTS IN DECEMBER 1988 WAS $21,175 MILLION, $2,325 MILLION OR 12.3 PER CENT HIGHER THAN IN DECEMBER 1987 WHILE THE VALUE OF RE-EXPORTS INCREASED BY 47.6 PER CENT OR $9,065 MILLION TO $28, 121 MILLION.
THE VALUE OF TOTAL EXPORTS (DOMESTIC EXPORTS PLUS RE-EXPORTS} + AT $49,296 MILLION IN DECEMBER 1988, WAS THUS $11,390 MILLION OR 30.0 PER CENT HIGHER THAN IN DECEMBER 1987.
THE VALUE OF IMPORTS GREW BY 29.3 PER CENT OR $11,369 MILLION OVER A YEAR EARLIER, TO $50,186 MILLION IN DECEMBER 1988.
A VISIBLE TRADE DEFICIT OF $890 MILLION WAS RECORDED IN DECEMBER 1988, WHICH WAS EQUIVALENT TO 1.8 PER CENT OF THE VALUE OF IMPORTS.
THIS COMPARES WITH A DEFICIT OF $911 MILLION, EQUIVALENT 2.3 PER CENT OF THE VALUE OF IMPORTS, RECORDED IN DECEMBER 1987.
ΤΟ
PUTTING THESE TRADE FIGURES IN PERSPECTIVE, THE VALUE OF TOTAL EXPORTS FOR 1988 AS A WHOLE WAS $493,069 MILLION, MADE UP OF DOMESTIC EXPORTS OF $217,666 MILLION AND RE-EXPORTS OF $275,403 MILLION.
COMPARED WITH 1987, IN VALUE TERMS TOTAL EXPORTS GREW BY $115,035 MILLION OR 30.4 PER CENT, DOMESTIC EXPORTS BY $22,412 MILLION OR 11.5 PER CENT, AND RE-EXPORTS BY $92,623 MILLION JR 50.7 PER CENT.
OVER THE SAME PERIOD, THE VALUE OF IMPORTS MILLION OR 32.0 PER CENT, TO $498,801 MILLION.
GREW BY $120,853
EQUIVALENT TO 1.1
A VISIBLE TRADE DEFICIT OF $5,732 MILLION, PER CENT OF THE VALUE OF IMPORTS, WAS RECORDED IN 1988.
IN 1987, THE VISIBLE TRADE ACCOUNT WAS WITH A SMALL SURPLUS OF $86 MILLION.
VIRTUALLY IN BALANCE,
COMMENTING ON THESE FIGURES, A GOVERNMENT SECRETARIAT
SPOKESMAN SAID THAT THE GROWTH RATE
DURING 1988.
OF
DOMESTIC EXPORTS
FLUCTUATED
/THE YEAR-ON-YEAR