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As the value of total exports in December 1995 was smaller than that of total imports, a visible trade deficit of $12.4 billion, equivalent to 9.7% of the value of imports, was recorded. This compared with a deficit of $9.5 billion, equivalent to 8.5% of the value of imports, in December 1994.
For 1995 as a whole, the value of total exports grew by 15% over 1994. Among this, the value of re-exports rose by 17%, while that of domestic exports increased by 4.3%. The value of imports showed an increase of 19%.
For 1995 as a whole, a visible trade deficit of $147 billion, equivalent to 9.9% of the value of imports, was recorded. This compared with a deficit of $80.7 billion, equivalent to 6.5% of the value of imports, recorded in 1994.
Commenting on the latest trade figures, a government spokesman said both re- exports and imports maintained double-digit growth in 1995, while domestic exports. also showed a small increase after declining for two consecutive years.
Meanwhile, reflecting the sustained strong import requirements for production and investment, there was a marked increase by 22% in retained imports in 1995, resulting in a larger visible trade deficit in the year.
A more detailed analysis of Hong Kong's external trade for December 1995, by commodity and country, will be released in mid-February.