XN000022-1980-12-18 — Page 3

THURSDAY, DECEMBER 18, 1980

OUTPUT PER PERSON ENGAGED IN TERMS OF SALES IN DISTRIBUTIVE TRADES WAS $656 000, BEING SEVENFOLD MORE THAN THAT OBSERVED IN THE MANUFACTURING SECTOR. THIS MAY BE ATTRIBUTED TO THE HIGH INPUT CONTENT OF COST OF GOODS SOLD.

IMPORT/EXPORT BUSINESS YIELDED THE HIGHEST PER CAPITA OUPUT AT $957 000. RESTAURANTS AS WELL AS HOTELS/BOARDING HOUSES RECORDED LOW OUTPUT YIELDS AT $52 000 AND $70 000 RESPECTIVELY.

AN AVERAGE EMPLOYEE IN DISTRIBUTIVE TRADES EARNED AROUND $1 900 PER MONTH, INCLUSIVE OF ALL FORMS OF FRINGE BENEFITS WHILE MANUFACTURING WORKERS EARNED A SLIGHTLY LOWER RATE OF $1 300. THOSE EMPLOYED IN THE IMPORT/EXPORT OF CAPITAL GOODS RECEIVED THE HIGHEST REMUNERATION. IMPORT/EXPORT TRADE PAID ABOVE AVERAGE REMUNERATION TO EMPLOYEES.

PAYMENTS IN KIND AND WELFARE SERVICES ACCOUNTED FOR 12.1 PER CENT OF TOTAL LABOUR COST IN DISTRIBUTIVE TRADES, COMPARED WITH 3.8 PER CENT IN THE MANUFACTURING SECTOR. A RELATIVELY HIGH PERCENTAGE (14.4%) WAS FOUND IN HOTELS/BOARDING HOUSES.

EACH PERSON ENGAGED IN THE DISTRIBUTIVE TRADE SECTOR CONTRIBUTED AN AVERAGE OF $58 000 TO THE GDP, COMPARED WITH $25 000 FOR THE MANUFACTURING SECTOR. IMPORT/EXPORT TRADE HAD THE HIGHEST NATIONAL ACCOUNTS VALUE ADDED PER PERSON AT $78 000, FOLLOWED BY HOTELS/ BOARDING HOUSES AT $39 000.

IN DISTRIBUTIVE TRADES, THE RATIO OF SALES TO CAPITAL STOCK IN 1977 WAS 21. LABOUR COST, OPERATING COSTS, AND RENTAL AND INTEREST PAYMENTS AS A PROPORTION OF CAPITAL STOCK IN DISTRIBUTIVE TRADES WERE 74.8 PER CENT, 118.9 PER CENT AND 34.7 PER CENT RESPECTIVELY, WHEREAS NET OPERATING SURPLUS WAS 90.0 PER CENT OF CAPITAL STOCK.

IN THE MANUFACTURING SECTOR, THE LABOUR COST PERCENTAGE WAS AS HIGH AS 111.6 PER CENT, WHEREAS THE PERCENTAGE FOR RENTAL PAYMENTS WAS REMARKABLY LOW AT 11.9 PER CENT, WITH NET OPERATING SURPLUS AT 32.6 PER CENT.

PURCHASES OF GOODS FOR SALE PER PERSON ENGAGED IN DISTRIBUTIVE TRADES AMOUNTED TO $577 000, THE MANUFACTURING SECTOR HOWEVER SPENT $54 000 PER PERSON ON PURCHASES OF MATERIALS AND SUPPLIES.

MEASURED IN TERMS OF THE RATIOS OF PURCHASES OF GOODS TO LABOUR COST, OPERATING COSTS AND RENTAL AND INTEREST PAYMENTS, WHOLESALE RANKED FIRST AMONG ALL DISTRIBUTIVE TRADES, FOLLOWED BY

IMPORT/EXPORT TRADE.

PURCHASES OF GOODS WERE 8.4 TIMES THE VALUE OF AVERAGE STOCKS OF GOODS AND 18.4 TIMES CAPITAL STOCK, COMPARED WITH 4.6 AND 3.7 TIMES RESPECTIVELY IN THE MANUFACTURING SECTOR.

RELATIVELY LOW RATIOS OF PURCHASES OF GOODS TO CAPITAL STOCK WERE FOUND IN RESTAURANTS AND HOTELS/BOARDING HOUSES, WHICH RANGED FROM 0.1 IN HOTELS TO 2.9 IN CHINESE RESTAURANTS.

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