XN000022-1981-11-25 — Page 13

WEDNESDAY, NOVEMBER 25, 1981

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PROVISIONAL TRADE FIGURES FOR OCTOBER 1981

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THE EXPORT SECTOR CONTINUED TO PUT UP AN IMPRESSIVE

PERFOR ANCE IN OCTOBER. THIS IS REVEALED IN THE PROVISIONAL TRADE

IGUPES FOR THE ONTH PUBLISHED TODAY (WEDNESDAY) BY THE CENSUS ~ND STATISTICS DEPARTMENT.

THE VALUE OF TOTAL EXPORTS FOR OCTOBER WAS $11 225

MILION, MADE UP OF DOMESTIC EXPORTS AT $7 534 MILLION AND RE-EXPORTS AT 3 691 MILLION. WITH IMPORTS AT $12 073 MILLION, THE VISIBLE TRADE DEFICIT FOR OCTOBER WAS $848 MILLION.

COMPARED WITH OCTOBER 1980, THERE WERE THE FOLLOWING INCREASES BY VALUE: $1 428 MILLION OR 23.4 PER CENT FOR DOMESTIC EXPORTS, $792 MILLION OR 27.3 PER CENT FOR RE-EXPORTS, $2 220

ILLION OR 24.6 PER CENT FOR TOTAL EXPORTS AND $2 501 MILLION OR 26.1 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 SEVEN PER CENT IN OCTOBER THIS YEAR, COMPARED

ITH 5.9 PER CENT IN OCTOBER 1980.

COMMENTING ON THE FIGURES, A GOVERNMENT SPOKESMAN POINTED OUT THAT THE GROWTH RATE OF DOMESTIC EXPORTS IN OCTOBER OF OVER 29 PER CENT IN MONEY TERMS WAS EQUIVALENT TO OVER 10 PER CENT IN PEAL TERMS. THIS, HE SAID, REPRESENTED A FURTHER ACCELERATION IN THE YEAR-ON-YEAR GROWTH RATE IN REAL TERMS OF DOMESTIC EXPORTS WHEN COMPARED WITH THE CORRESPONDING GROWTH RATES OF LESS THAN SIX PER CENT IN THE FIRST HALF OF THIS YEAR AND ABOUT EIGHT PER CENT IN THE THIRD QUARTER OF THIS YEAR.

AT A TIME WHEN ECONOMIC CONDITIONS IN HONG KONG'S MAJOR MARKETS WERE UNFAVOURABLE, SUCH AN IMPRESSIVE PERFORMANCE WAS A CLEAR INDICATION THAT THE ECONOMY HAD BEEN ADJUSTING EFFICIENTLY, THE SPOKESMAN ADDED.

CONCERNING THE CONTINUING RAPID GROWTH OF IMPORTS THAT MERE RETAINED IN HONG KONG, THE SPOKESMAN POINTED OUT THAT DETAILED BREAKDOWNS BY END-USE CATEGORIES OF RETAINED IMPORTS IN CCTOBER WERE NOT YET AVAILABLE FOR COMMENT. HE POINTED OUT, HOWEVER, THAT THOSE UP TO SEPTEMBER SHOWED AN ENCOURAGING PICTURE BOTH IN RESPECT OF OVERALL BALANCE IN THE ECONOMY AND OF IMMEDIATE EXPORT PROSPECTS.

THERE HAD BEEN A FAIRLY SHARP ACCELERATION IN THE GROWTH RATE OF RETAINED IMPORTS OF RAW MATERIALS AND SEMI-MANUFACTURES AND AN EQUALLY SHARP DECELERATION IN THE GROWTH RATE OF RETAINED

IMPORTS OF CONSUMER GOODS.

/COMPARING THE