M
WEDNESDAY, JULY 28, 1993
TOTAL
AS THE VALUE OF TOTAL EXPORTS WAS SMALLER THAN THAT OF IMPORTS, A VISIBLE TRADE DEFICIT OF $3,744 MILLION, EQUIVALENT TO 4.2% OF THE VALUE OF IMPORTS, WAS RECORDED IN JUNE 1993.
THIS COMPARED WITH A DEFICIT OF $4,396 MILLION, EQUIVALENT 5.2% OF THE VALUE OF IMPORTS, RECORDED IN JUNE 1992.
ΤΟ
IN THE FIRST HALF OF 1993, THE VALUE OF RE-EXPORTS AMOUNTED TO $375,789 MILLION, WHICH WAS $66,557 MILLION OR 22% HIGHER THAN A YEAR EARLIER.
THE VALUE OF DOMESTIC EXPORTS, AT $103,182 MILLION, WAS MILLION OR 3.5% LOWER THAN THAT IN THE SAME PERIOD LAST YEAR.
$3,759
OF
TAKING RE-EXPORTS AND DOMESTIC EXPORTS TOGETHER, THE VALUE TOTAL EXPORTS IN THE FIRST HALF OF 1993, AT $478,971 MILLION, WAS $62,798 MILLION OR 15% HIGHER THAN A YEAR EARLIER.
THE VALUE OF IMPORTS INCREASED BY $64,080 MILLION OR 15% TO $506,726 MILLION.
A TRADE DEFICIT OF $27,755 MILLION, EQUIVALENT TO 5.5% OF THE VALUE OF IMPORTS, WAS RECORDED IN THE FIRST HALF OF 1993.
THIS COMPARED WITH A TRADE DEFICIT OF $26,473 MILLION, EQUIVALENT TO 6.0% OF THE VALUE OF IMPORTS, RECORDED A YEAR EARLIER.
THE SHARE OF RE-EXPORTS IN THE VALUE OF TOTAL EXPORTS FURTHER ROSE TO 78% IN THE FIRST HALF OF 1993, COMPARED WITH 74% A YEAR EARLIER, REFLECTING THE STRUCTURAL SHIFT FROM DOMESTIC EXPORTS TO RE- EXPORTS. OVER THE SAME PERIOD, THE VALUE OF RETAINED IMPORTS GREW BY 4.5%.
A GOVERNMENT SPOKESMAN COMMENTED THAT THE TRADE PERFORMANCE REFLECTED IN THE JUNE FIGURES WAS SOMEWHAT BELOW EXPECTATIONS.
AS
WHILE THE REDUCED GROWTH RATES WERE DUE IN PART TO A HIGH BASE OF COMPARISON IN JUNE LAST YEAR (IN JUNE 1992, THE YEAR-ON-YEAR GROWTH RATES OF DOMESTIC EXPORTS AND RE-EXPORTS WERE RATHER HIGH, AT 12% AND 40% RESPECTIVELY), THE WEAKER THAN EXPECTED DEMAND IN HONG KONG'S MAJOR MARKETS WAS ALSO LIKELY TO HAVE BEEN A SIGNIFICANT CONTRIBUTORY FACTOR.
THE FOLLOWING TABLE PRESENTS THE PROVISIONAL EXTERNAL TRADE IN JUNE 1993.
FIGURES OF
A MORE DETAILED ANALYSIS OF HONG KONG'S EXTERNAL TRADE IN JUNE 1993, BY COMMODITY AND COUNTRY, WILL BE RELEASED IN MID-AUGUST.
/MERCHANDISE