MONDAY, NOVEMBER 8, 1993
UNDERLYING THIS GROWTH WAS A
SIGNIFICANT
INCREASE IN
EXPENDITURE ON BOTH CONSUMER DURABLE AND NON-DURABLE GOODS.
ON THE SAME BASIS OF COMPARISON, GOVERNMENT CONSUMPTION EXPENDITURE (DEFINED IN NATIONAL ACCOUNTS TERMS) CREW BY 3.9% IN REAL TERMS.
GROSS DOMESTIC FIXED CAPITAL FORMATION GREW BY 8.8% IN REAL TERMS IN THE SECOND QUARTER OF 1993 OVER THE SAME QUARTER IN 1992.
WITHIN THIS COMPONENT, EXPENDITURE ON MACHINERY AND EQUIPMENT CONTINUED TO GROW SIGNIFICANTLY, BY 15.1% IN REAL TERMS.
EXPENDITURE ON CONSTRUCTION ALSO RECORDED A SUBSTANTIAL GROWTH OF
IN PICK-UP IN THE SECOND QUARTER, MAINLY DUE TO A FURTHER PUBLIC SECTOR CONSTRUCTION ACTIVITY.
14.8%
EXTERNAL TRADE CONTINUED TO SHOW NOTABLE GROWTH IN THE SECOND
ALBEIT AT A LESS RAPID PACE QUARTER OF 1993,
THAN
THE IN
PREVIOUS
QUARTER.
TOTAL EXPORTS OF GOODS REGISTERED A YEAR-ON-YEAR GROWTH RATE OF 11.5% IN REAL TERMS.
OF THESE,
DECLINED BY 7.0%. WAS 12.0%.
RE-EXPORTS GREW BY 18.6%, WHILE DOMESTIC EXPORTS GOODS THE CORRESPONDING GROWTH RATE FOR IMPORTS OF
AS
RATE
REGARDS EXPORTS OF SERVICES, THE GROWTH RATE IN REAL TERMS WAS 7.0% OVER A YEAR EARLIER. THE CORRESPONDING GROWTH IMPORTS OF SERVICES WAS 7.3%.
FOR
THE IMPLICIT PRICE DEFLATOR OF GDP, AS A BROAD MEASURE OF OVERALL INFLATION IN THE ECONOMY, ROSE BY 9.4% IN THE SECOND QUARTER 9.5% OF 1993 OVER THE SAME QUARTER IN 1992, FOLLOWING AN INCREASE OF IN THE FIRST QUARTER.
ACCORDING TO THE REVISED (NOVEMBER 93) ESTIMATES, THE YEAR-ON- OF 1993 YEAR GROWTH RATE OF GDP IN REAL TERMS FOR THE FIRST QUARTER WAS REVISED SLIGHTLY UPWARDS, FROM 5.3% TO 5.4%.
BASED ON THE LATEST GDP ESTIMATES FOR THE FIRST AND SECOND QUARTERS OF 1993, GDP GREW BY 5.3% IN REAL TERMS IN THE FIRST HALF OF 1993 OVER THE SAME PERIOD LAST YEAR.
THE LATEST QUARTERLY ESTIMATES OF GDP FROM THE FIRST QUARTER OF 1991 TO THE SECOND QUARTER OF 1993 ARE PUBLISHED IN A REPORT ENTITLED "QUARTERLY ESTIMATES OF GROSS DOMESTIC PRODUCT, 2ND QUARTER 1993".
THE REPORT IS NOW ON SALE AT $4.5 A COPY AT THE GOVERNMENT PUBLICATIONS CENTRE, HONG KONG; AND AT THE PUBLICATIONS SECTION OF THE CENSUS AND
DEPARTMENT, STATISTICS
12 FLOOR, WANCHAI TOWER, HARBOUR ROAD, WAN CHAI.
19TH
ENQUIRIES MAY BE DIRECTED TO THE NATIONAL INCOME BRANCH OF THE CENSUS AND STATISTICS DEPARTMENT ON TEL 582 5077.
/TABLE 1