XN000022-1981-06-24 — Page 23

22

WEDNESDAY, JUNE 24, 1981

PROVISIONAL TRADE FIGURES FOR MAY

***

THE CENSUS AND STATISTICS DEPARTMENT TODAY PUBLISHED THE PROVISIONAL TRADE FIGURES FOR HONG KONG'S VISIBLE TRADE IN MAY 1981. THE VALUE OF TOTAL EXPORTS FOR MAY WAS $10 302 MILLION, MADE UP OF DOMESTIC EXPORTS AT $6 880 MILLION AND RE-EXPORTS AT $3 422 MILLION. WITH IMPORTS AT $11 737 MILLION, THE VISIBLE TRADE DEFICIT FOR MAY WAS $1 435 MILLION.

COMPARED WITH THE SAME MONTH IN 1980, THERE WERE THE FOLLOWING INCREASES BY VALUE: $912 MILLION OR 15.3 PER CENT FOR DOMESTIC EXPORTS, $895 MILLION OR 35.4 PER CENT FOR RE-EXPORTS, $1 807 MILLION OR 21.3 PER CENT FOR TOTAL EXPORTS AND $2 291 MILLION OR 24.1 PER CENT FOR IMPORTS. THE VISIBLE TRADE +GAP+, THAT IS THE PROPORTION OF THE VALUE OF IMPORTS NOT COVERED BY THE VALUE OF TOTAL EXPORTS, WAS 12.2 PER CENT IN MAY THIS YEAR, COMPARED WITH 10.2 PER CENT IN MAY 1980.

PUTTING THE MONTH'S FIGURES INTO CONTEXT, A GOVERNMENT SPOKESMAN POINTED OUT THAT THE VALUE OF TOTAL EXPORTS FOR THE FIRST FIVE MONTHS OF THIS YEAR WAS 25.5 PER CENT HIGHER THAN FÖR THE FIRST FIVE MONTHS OF 1980 WHILE THE VALUE OF IMPORTS WAS 25.6 PER CENT HIGHER. FURTHER, THE VISIBLE TRADE +GAP+ FOR THE FIRST FIVE MONTHS OF THIS YEAR, AT 16.9 PER CENT, WAS VIRTUALLY THE SAME AS FOR THE FIRST FIVE MONTHS OF 1980 AT 16.8 PER CENT. HE CONCLUDED THAT THE VISIBLE TRADE ACCOUNT WAS CONTINUING TO SHOW A FAIR DEGREE OF STABILITY.

COMPARED WITH APRIL, THERE WERE THE FOLLOWING INCREASES BY VALUE: $1 036 MILLION OR 17.7 PER CENT FOR DOMESTIC EXPORTS, $94 MILLION OR 2,8 PER CENT FOR RE-EXPORTS, $1 130 MILLION OR 12.3 PER CENT FOR TOTAL EXPORTS AND $339 MILLION OR 3.0 PER CENT FOR IMPORTS. THE VISIBLE TRADE +GAP+ NARROWED FROM 19.5 PER CENT IN APRIL TO 12.2 PER CENT IN MAY. WHILE RECOGNISING THAT THE MARKED IMPROVEMENT SHOWN IN THIS COMPARISON WAS SEASONAL, THE GOVERNMENT SPOKESMAN CONSIDERED IT ENCOURAGING IN VIEW OF THE UNFAVOURABLE ECONOMIC CIRCUMSTANCES PREVAILING IN HONG KONG'S MAJOR EXPORT MARKETS.

THE FOLLOWING