THURSDAY, AUGUST 27, 1992
PROVISIONAL TRADE FIGURES FOR JULY 1992
PROVISIONAL TRADE FIGURES RELEASED TODAY (THURSDAY) BY THE CENSUS AND STATISTICS DEPARTMENT SHOWED THAT IN JULY THIS YEAR, RE- EXPORTS CONTINUED TO GROW STRONGLY, WHILE DOMESTIC EXPORTS SHOWED A SMALL INCREASE. IMPORTS ALSO RECORDED A MARKED GROWTH.
THE VALUE OF RE-EXPORTS ROSE BY $12,275 MILLION OR 25.3% OVER A YEAR BARLIER TO $60,782 MILLION IN JULY 1992. THE VALUE OF DOMESTIC EXPORTS ALSO INCREASED, BY $202 MILLION OR 1.0% TO $21,380 MILLION.
TAKING RE-EXPORTS AND DOMESTIC EXPORTS TOGETHER, THE VALUE OF TOTAL EXPORTS IN JULY GREW BY $12,477 MILLION OR 17.9% OVER A YEAR EARLIER TO $82,162 MILLION.
MEANWHILE, THE VALUE OF IMPORTS IN JULY INCREASED BY $15,884 MILLION OR 23.0% OVER A YEAR EARLIER TO $84,966 MILLION.
AS THE VALUE OF TOTAL EXPORTS WAS SMALLER THAN THAT OF TOTAL IMPORTS, A VISIBLE TRADE DEFICIT OF $2,804 MILLION, EQUIVALENT TO 3.3% OF THE VALUE OF IMPORTS, WAS RECORDED IN JULY 1992. THIS COMPARED WITH A SURPLUS OF $603 MILLION, EQUIVALENT TO 0.9% OF THE VALUE OF IMPORTS, RECORDED IN JULY 1991.
IN THE FIRST SEVEN MONTHS OF 1992, THE VALUE OF RE-EXPORTS INCREASED BY $88,394 MILLION OR 31.4% OVER A YEAR EARLIER TO $370,014 MILLION. THE VALUE OF DOMESTIC EXPORTS AMOUNTED TO $128,321 MILLION, $2,218 MILLION OR 1.8% HIGHER THAN IN THE FIRST SEVEN MONTHS OF 1991.
OF 1992,
TAKING RE-EXPORTS AND DOMESTIC EXPORTS TOGETHER, THE VALUE TOTAL EXPORTS, AT $498,335 MILLION IN THE FIRST SEVEN MONTHS OF WAS $90,612 MILLION OR 22.2% HIGHER THAN A YEAR EARLIER.
THE
$527,612
VALUE OF IMPORTS INCREASED BY $99,309 MILLION OR 23.2% MILLION.
TO
A VISIBLE TRADE DEFICIT OF $29,277 MILLION, EQUIVALENT TO 5.5% OF THE VALUE OF IMPORTS, WAS RECORDED IN THE FIRST SEVEN MONTHS OF 1992. THIS COMPARED WITH THE DEFICIT OF $20,580 MILLION, EQUIVALENT TO .4.8% OF THE VALUE OF IMPORTS, RECORDED IN THE SAME PERIOD LAST YEAR.
COMMENTING ON THE JULY TRADE FIGURES, A GOVERNMENT SPOKESMAN SAID DOMESTIC EXPORTS HAD REBOUNDED FROM THE EARLIER DECLINE FOR TWO CONSECUTIVE MONTHS, ALTHOUGH THE LATEST INCREASE WAS ONLY SMALL.
THE ROBUST RE-EXPORT PERFORMANCE WAS UNDERPINNED BY THE CONTINUED STRONG GROWTH IN RE-EXPORTS INVOLVING CHINA IN BOTH DIRECTIONS.
INDICATIVE OF A SUSTAINED INCREASE IN DOMESTIC DEMAND AND PROBABLY ALSO A BETTER OUTLOOK FOR DOMESTIC EXPORTS, IMPORTS RETAINED FOR LOCAL USE CONTINUED TO SHOW A SUBSTANTIAL RISE. IN THE FIRST SEVEN MONTHS OF 1992, RETAINED IMPORTS GREW BY 13.1% IN VALUE OVER A YEAR EARLIER.
TERMS
/THE FOLLOWING
Page 10Page 11