2
MONDAY, MARCH 29, 1993
PROVISIONAL FIGURES OF EXTERNAL TRADE FOR FEBRUARY
*
IN
FEBRUARY, RE-EXPORTS CONTINUED TO SURGE, WHILE DOMESTIC EXPORTS REGISTERED A SMALL DECLINE.
IMPORTS GREW MARKEDLY.
THESE ARE SHOWN IN THE PROVISIONAL FIGURES OF EXTERNAL TRADE RELEASED TODAY (MONDAY) BY THE CENSUS AND STATISTICS DEPARTMENT.
THE VALUE OF RE-EXPORTS IN FEBRUARY ROSE BY $12,183 MILLION OR 25% OVER A YEAR EARLIER TO $61,564 MILLION.
THE VALUE OF DOMESTIC EXPORTS DECREASED BY $683 MILLION OR 3.9% TO $16,807 MILLION.
TOTAL
TAKING RE-EXPORTS AND DOMESTIC EXPORTS TOGETHER, THE VALUE OF EXPORTS IN FEBRUARY GREW BY $11,500 MILLION OR 17% OVER A YEAR EARLIER TO $78,371 MILLION.
OVER THE SAME PERIOD, THE VALUE OF IMPORTS INCREASED BY $14,674 MILLION OR 22% TO $82,848 MILLION.
AS
THE VALUE OF TOTAL EXPORTS WAS SMALLER THAN THAT OF TOTAL IMPORTS, A VISIBLE TRADE DEFICIT OF $4,477 MILLION, EQUIVALENT TO 5.4% OF THE VALUE OF IMPORTS, WAS RECORDED IN FEBRUARY.
TAKING THE FIRST TWO MONTHS TOGETHER, A VISIBLE TRADE DEFICIT OF $4,103 MILLION, EQUIVALENT TO 2.8% OF THE VALUE OF IMPORTS, WAS RECORDED. THIS COMPARED WITH A TRADE DEFICIT OF $4,039 MILLION, EQUIVALENT TO 3.3% OF THE VALUE OF IMPORTS, RECORDED A YEAR EARLIER.
COMMENTING ON THE FEBRUARY TRADE FIGURES, A GOVERNMENT SPOKESMAN NOTED THAT RE-EXPORTS CONTINUED TO BE ROBUST WHILE DOMESTIC EXPORTS REMAINED SLUGGISH.
THIS REFLECTED LARGELY THE CONTINUED SHIFT FROM DOMESTIC EXPORTS TO RE-EXPORTS AS LOCAL PRODUCTION PROCESSES WERE RELOCATED TO SOUTH CHINA, THUS RESULTING IN MORE GOODS BEING SHIPPED OUT FROM HONG KONG AS RE-EXPORTS OF CHINA ORIGIN RATHER THAN AS DOMESTIC EXPORTS.
AT THE SAME TIME, THERE WAS A SUSTAINED
GROWTH IN RETAINED
IMPORTS.
IN THE FIRST TWO MONTHS OF 1993, THE VALUE OF RETAINED IMPORTS 6.7% HIGHER THAN A YEAR EARLIER. THIS WAS IN LINE WITH THE CONTINUED GROWTH IN DOMESTIC DEMAND.
WAS
THE FOLLOWING TABLE
PRESENTS THE PROVISIONAL
FIGURES OF
EXTERNAL TRADE FOR FEBRUARY.
A SEPARATE ANALYSIS OF HONG KONG'S EXTERNAL TRADE BY COMMODITY AND COUNTRY FOR FEBRUARY WILL BE RELEASED IN MID-APRIL.
/PROVISIONAL FIGURES