12
MONDAY, MAY 9, 1994
TOTAL EXPORTS OF GOODS GREW BY 9.1% IN REAL TERMS, WHILST IMPORTS GREW BY 6.5% IN REAL TERMS OVER THE SAME PERIOD. THE CORRESPONDING FIGURES FOR THE THIRD QUARTER OF 1993 WERE 14.2% AND
15.2% RESPECTIVELY.
TERMS 1992.
AS REGARDS EXPORTS OF SERVICES, THE GROWTH RATE IN REAL WAS 6.5% IN THE FOURTH QUARTER OF 1993 OVER THE SAME PERIOD OF THIS WAS LARGER THAN THE CORRESPONDING GROWTH RATE OF 5.9% FOR IMPORTS OF SERVICES. AS A RESULT, NET EXPORTS OF SERVICES ROSE BY 8.4% IN THE FOURTH QUARTER OF 1993.
THE RATE OF INCREASE IN THE IMPLICIT PRICE DEFLATOR OF GDP MODERATED FURTHER, FROM 7.7% IN THE THIRD QUARTER TO 6.0% IN THE FOURTH QUARTER. FOR 1993 AS A WHOLE, THE RATE OF INCREASE WAS 7.9%.
THIS WAS SIGNIFICANTLY BELOW THE CORRESPONDING INCREASES OF 10.5% RECORDED IN 1991 AND 10.1% IN 1992, AND WAS CONSISTENT WITH THE MODERATION IN CONSUMER PRICE INFLATION,
THE RATE OF CHANGE IN THE IMPLICIT PRICE DEFLATOR OF GDP IS A BROAD MEASURE OF INFLATION IN THE WHOLE ECONOMY.
ACCORDING TO THE REVISED (MAY 94) ESTIMATES, THE YEAR-ON-YEAR GROWTH RATE OF GDP IN REAL TERMS FOR THE FIRST QUARTER OF 1993 WAS ADJUSTED SLIGHTLY UPWARDS, FROM 5.5% TO 5.6%, WHILST THAT FOR THE SECOND QUARTER REMAINED UNCHANGED AT 5.3% AND THAT FOR THE THIRD QUARTER WAS REVISED DOWNWARDS FROM 5.6% TO 5.5%.
BASED ON THE LATEST GDP ESTIMATES, GDP GREW BY 5.5% IN REAL TERMS IN 1993 OVER 1992.
THE LATEST GDP FIGURES FROM THE FIRST QUARTER OF 1992 TO THE FOURTH QUARTER OF 1993 ARE PRESENTED IN TABLES 1 AND 2.
THE LATEST QUARTERLY ESTIMATES OF GDP FROM THE FIRST QUARTER OF 1992 TO THE FOURTH QUARTER OF 1993 ARE PUBLISHED IN A REPORT ENTITLED "QUARTERLY ESTIMATES OF GROSS DOMESTIC PRODUCT, 4TH QUARTER 1993".
THE REPORT IS NOW ON SALE AT $4.5 PER COPY AT THE GOVERNMENT PUBLICATIONS CENTRE, HONG KONG; AND AT THE PUBLICATIONS SECTION OF THE CENSUS AND STATISTICS DEPARTMENT, 19TH FLOOR, WANCHAI TOWER, 12 HARBOUR ROAD, WAN CHAI. TELEPHONE ENQUIRIES MAY BE DIRECTED ΤΟ THE NATIONAL INCOME BRANCH OF THE CENSUS AND STATISTICS DEPARTMENT AT 582 5077.
/Table 1