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MONDAY, MARCH 28, 1994
THE VALUE OF DOMESTIC EXPORTS FELL BY $3,333 MILLION OVER A YEAR EARLIER TO $13,474 MILLION IN FEBRUARY.
OR 20%
TAKING RE-EXPORTS AND DOMESTIC EXPORTS TOGETHER, THE VALUE TOTAL EXPORTS IN FEBRUARY 1994 DECLINED BY $5,532 MILLION OR 7.1% $72,839 MILLION.
OVER THE SAME PERIOD, THE VALUE OF IMPORTS DECREASED BY MILLION OR 4.3% TO $79,305 MILLION.
OF
ΤΟ
$3,544
AS THE VALUE OF TOTAL EXPORTS IN FEBRUARY 1994 WAS SMALLER THAN OF $6.465 MILLION, OF TOTAL IMPORTS, A VISIBLE TRADE DEFICIT EQUIVALENT TO 8.2% OF THE VALUE OF IMPORTS, WAS RECORDED.
THAT
THIS COMPARED WITH A DEFICIT OF $4,477 MILLION, EQUIVALENT 5.4% OF THE VALUE OF IMPORTS, RECORDED IN FEBRUARY 1993.
TO
THE
RELATIVELY LARGER DEFICIT IN FEBRUARY THIS YEAR WAS INFLUENCED BY THE TIMING OF THE LUNAR NEW YEAR HOLIDAYS.
AGAIN
SAID
PERFORMANCE IN THE
COMMENTING ON THESE TRADE FIGURES, A GOVERNMENT SPOKESMAN
FLUCTUATIONS IN TRADE WERE CONSIDERABLE THERE MONTHS OF JANUARY AND FEBRUARY.
THIS WAS ATTRIBUTABLE MAINLY TO THE DIFFERENCE IN TIMING OF THE BUT LUNAR NEW YEAR HOLIDAYS, WHICH TOOK PLACE IN FEBRUARY THIS YEAR, IN JANUARY LAST YEAR.
IT WAS THEREFORE ADVISABLE TO LOOK AT THE TRADE PERFORMANCE FOR THE TWO MONTHS COMBINED, HE SAID.
THE VALUE OF TAKING THE FIRST TWO MONTHS OF THIS YEAR TOGETHER,
ROSE TOTAL EXPORTS GREW BY 9%. AMONGST THIS, THE VALUE OF RE-EXPORTS
ON THE OTHER HAND, BY 14%, WHILE THAT OF DOMESTIC EXPORTS FELL BY 8%. THE VALUE OF IMPORTS SHOWED AN INCREASE OF 9%.
SAME
PERIOD, A VISIBLE
TRADE
OF DEFICIT
$4.732 WAS RECORDED,
OVER THE MILLION, EQUIVALENT TO 3.0% OF THE VALUE OF IMPORTS, COMPARED WITH A TRADE DEFICIT OF $4,103 MILLION, EQUIVALENT TO 2.8% OF THE VALUE OF IMPORTS, RECORDED A YEAR EARLIER.
HONG
TOTAL THE
REFLECTING A SUSTAINED RAPID CHANGE IN THE COMPOSITION OF KONG'S EXPORT TRADE, THE SHARE OF RE-EXPORTS IN THE VALUE OF EXPORTS ROSE TO 81% IN THE FIRST TWO MONTHS OF 1994, FROM 78% IN FIRST TWO MONTHS OF 1993. OVER THE SAME PERIOD, THE VALUE OF RETAINED IMPORTS WAS HIGHER BY 1.5%.
EXTERNAL TRADE FOR A MORE DETAILED ANALYSIS OF HONG KONG'S FEBRUARY 1994, BY COMMODITY AND COUNTRY, WILL BE RELEASED IN MID-APRIL 1994.
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