13
FRIDAY, MARCH 27, 1992
THE VALUE OF DOMESTIC EXPORTS INCREASED BY $220 MILLION OR 0.4% TO $53,954 MILLION OVER THE SAME PERIOD.
TAKING RE-EXPORTS AND DOMESTIC EXPORTS TOGETHER, THE VALUE OF TOTAL EXPORTS IN THE THREE MONTHS ENDING FEBRUARY 1992, AT $194,830 MILLION, WAS $33,853 MILLION OR 21.0% HIGHER THAN A YEAR EARLIER.
MEANWHILE, THE VALUE OF IMPORTS INCREASED BY $36,030 MILLION OR 21.8% TO $201,057 MILLION.
A
VISIBLE TRADE DEFICIT OF $6,227 MILLION, EQUIVALENT TO 3.1% OF THE VALUE OF IMPORTS, WAS RECORDED IN THE THREE MONTHS ENDING FEBRUARY 1992. THIS COMPARES WITH A DEFICIT OF $4,050 MILLION, EQUIVALENT ΤΟ 2.5% OF THE VALUE OF IMPORTS, RECORDED IN THE THREE MONTHS ENDING FEBRUARY 1991.
A GOVERNMENT SPOKESMAN CAUTIONED THAT LIKE JANUARY, THE TRADE PERFORMANCE IN FEBRUARY WAS ALSO AFFECTED BY THE TIMING OF THE CHINESE NEW YEAR HOLIDAY, THOUGH PROBABLY IN A DIFFERENT DIRECTION.
SOME SHIPMENTS THAT SHOULD HAVE BEEN PLACED IN JANUARY WERE POSTPONED TO FEBRUARY, AFTER THE HOLIDAY.
TRADE FIGURES FOR A LONGER PERIOD INDICATED THAT WHILE GROWTH RE-EXPORTS REMAINED ROBUST, THAT OF DOMESTIC EXPORTS WAS MUCH
OF SLOWER.
THIS REFLECTED LARGELY THE CONTINUED RELATIVE SHIFT FROM DOMESTIC EXPORTS TO RE-EXPORTS AS LOCAL PRODUCTION PROCESSES MOVED TO SOUTH CHINA, RESULTING IN MORE GOODS BEING SHIPPED OUT AS RE-EXPORTS OF CHINA ORIGIN RATHER THAN AS DOMESTIC EXPORTS.
ON THE OTHER HAND, THE SUSTAINED INCREASE IN RETAINED IMPORTS, BY 10.9% IN VALUE TERMS IN THE THREE MONTHS ENDING FEBRUARY 1992 OVER A YEAR EARLIER, WAS IN LINE WITH THE CONTINUED GROWTH IN DOMESTIC DEMAND.
THE FOLLOWING TABLE PRESENTS THE PROVISIONAL TRADE FIGURES FOR FEBRUARY 1992:
TRADE FIGURES FOR FEBRUARY, 1992
MERCHANDISE: DOMESTIC EXPORTS :
$17,490 MILLION
RE-EXPORTS
TOTAL EXPORTS
IMPORTS
TRADE BALANCE
$49,381 MILLION $66,871 MILLION $68,175 MILLION $1,304 MILLION
(IN DEFICIT)
COMPARATIVE FIGURES
LATEST 3 MONTHS
DOMESTIC EXPORTS
RE-EXPORTS
TOTAL EXPORTS
IMPORTS
TRADE BALANCE
DEC 91 TO FEB 92 HK$ MN.
DEC 90 TO
FEB 91 HK$ MN.
INCREASE
HK$ MN.
%
53,954
53.734
220
0.4
140,876
107.243
33,633
31.4
194,830
160,977
33,853
21.0
201,057
165,027
36,030
21.8
+
6,227
-4,050
-2.
177
/SAME MONTH