7
TUESDAY, SEPTEMBER 28, 1993
THE VALUE OF IMPORTS INCREASED BY $91,468 MILLION OR 15% TO $698,451 MILLION.
A TRADE DEFICIT OF $29,078 MILLION, EQUIVALENT TO 4.2% OF THE VALUE OF IMPORTS, WAS RECORDED IN THE FIRST EIGHT MONTHS OF 1993. THIS COMPARED WITH A TRADE DEFICIT OF $26,871 MILLION, EQUIVALENT TO 4.4% OF THE VALUE OF IMPORTS, RECORDED A YEAR EARLIER.
COMMENTING ON THE LATEST TRADE FIGURES, A GOVERNMENT SAID RE-EXPORTS CONTINUED TO PROVIDE THE MAIN IMPETUS TO HONG KONG'S EXTERNAL TRADE.
"THE EXPANSION IN RE-EXPORT VALUE SO FAR THIS YEAR STRONG AND STEADY," HE SAID.
OF DOMESTIC EXPORTS
SPOKESMAN GROWTH IN
HAS BEEN
IS LESS MARKETS,
IN COMPARISON, THE PERFORMANCE IMPRESSIVE, PARTLY OWING TO SLACKENED DEMAND IN THE OVERSEAS AND PARTLY BECAUSE OF THE ONGOING STRUCTURAL SHIFT IN THE COMPOSITION OF HONG KONG'S EXPORTS FROM DOMESTIC EXPORTS TO RE-EXPORTS, HE ADDED.
THE SHARE OF RE-EXPORTS IN THE VALUE OF TOTAL EXPORTS THUS ROSE FURTHER, FROM 74% IN THE FIRST EIGHT MONTHS OF 1992 TO 78% IN THE FIRST EIGHT MONTHS OF 1993.
6.4%.
OVER THE SAME PERIOD, THE VALUE OF RETAINED IMPORTS GREW BY
THERE WAS A SIGNIFICANT PICK-UP IN THE GROWTH OF RETAINED IMPORTS IN AUGUST, BY 14% OVER A YEAR EARLIER.
EXTERNAL TRADE IN BE RELEASED IN MID-
A MORE DETAILED ANALYSIS OF HONG KONG'S AUGUST 1993, BY COMMODITY AND COUNTRY, WILL OCTOBER.
/PROVISIONAL FIGURES