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THURSDAY, JANUARY 24, 1991
1990, AT
THE VALUE OF DOMESTIC EXPORTS IN DECEMBER
$20,212 MILLION, WAS $297 MILLION OR 1.5 PER CENT HIGHER THAN IN DECEMBER 1989.
THE VALUE OF RE-EXPORTS INCREASED BY $7,174 MILLION OR 24.2 PER CENT TO $36,761 MILLION,
TAKING DOMESTIC EXPORTS AND RE-EXPORTS TOGETHER, THE VALUE OF TOTAL EXPORTS ROSE BY $7,471 MILLION OR 15.1 PER CENT OVER A YEAR EARLIER, TO $56,973 MILLION IN DECEMBER 1990.
THE VALUE OF IMPORTS GREW BY $11.918 MILLION OR 25.1 PER CENT OVER A YEAR EARLIER, TO $59,362 MILLION IN DECEMBER 1990.
CENT
AS THE VALUE OF IMPORTS WAS LARGER THAN THAT OF TOTAL EXPORTS, A VISIBLE TRADE DEFICIT OF $2,389 MILLION, EQUIVALENT TO 4.0 PER OF THE VALUE OF IMPORTS, WAS RECORDED IN DECEMBER 1990.
THIS COMPARED WITH A SURPLUS OF $2,058 MILLION, EQUIVALENT 4.3 PER CENT OF THE VALUE OF IMPORTS, RECORDED IN DECEMBER 1989.
FOR 1990 AS A WHOLE, THE VALUE OF TOTAL EXPORTS AMOUNTED $639,874 MILLION, MADE UP OF DOMESTIC EXPORTS OF $225,875 MILLION RE-EXPORTS OF $413,999 MILLION.
TO
TO
AND
COMPARED WITH 1989, TOTAL EXPORTS GREW BY $69,365 MILLION OR 12.2 PER CENT IN VALUE TERMS, WITH DOMESTIC EXPORTS RISING BY $1,771 PER MILLION OR 0.8 PER CENT AND RE-EXPORTS BY $67,594 MILLION OR 19.5 VENT.
OVER THE SAME PERIOD, THE VALUE OF IMPORTS ROSE BY $79,753 MILLION OR 14.2 PER CENT, TO $642,534 MILLION.
FOR 1990 AS A WHOLE, THERE WAS A VISIBLE TRADE DEFICIT OF $2,660 MILLION, EQUIVALENT TO 0.4 PER CENT OF THE VALUE OF IMPORTS.
THIS COMPARES WITH A SURPLUS OF $7,728 MILLION, EQUIVALENT ΤΟ 1.4 PER CENT OF THE VALUE OF IMPORTS, RECORDED IN 1989.
NOT
COMMENTING ON THE DECEMBER TRADE FIGURES, A GOVERNMENT SPOKESMAN SAID THE PERFORMANCE OF RE-EXPORTS IN DECEMBER, THOUGH AS STRONG AS IN THE PREVIOUS TWO MONTHS, WAS STILL HIGHLY ROBUST.
THIS WAS ATTRIBUTABLE TO RAPID INCREASES IN BOTH RE-EXPORTS OF CHINA ORIGIN AND RE-EXPORTS TO CHINA.
ON THE OTHER HAND, DOMESTIC EXPORTS GREW MORE SLOWLY
IN DECEMBER THAN IN OCTOBER AND NOVEMBER, PROBABLY REFLECTING THE EARLIER COMPLETION OF ORDERS FOR CHRISTMAS AND NEW YEAR SALES OVERSEAS.
AS REGARDS RETAINED IMPORTS, THE GROWTH RATE REMAINED SIGNIFICANT IN DECEMBER, AT AROUND 26 PER CENT IN VALUE TERMS (AFTER ADJUSTING FOR THE RE-EXPORT MARGIN).
THE SUSTAINED INCREASES IN RETAINED IMPORTS IN RECENT MONTHS SHOULD HAVE FAVOURABLE IMPLICATIONS FOR BOTH LOCAL DEMAND AND DOMESTIC EXPORTS IN THE IMMEDIATE FUTURE.
/PRESS RELEASE