XN000022-1982-06-29 — Page 14

TUESDAY, JUNE 29, 1982

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PROVISIONAL TRADE FIGURES FOR MAY 1982

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THE VALUE OF TOTAL EXPORTS FOR MAY WAS $10 614 MILLION, MADE UP OF DOMESTIC EXPORTS AT $6 854 MILLION AND RE-EXPORTS AT $3 760 MILLION, ACCORDING TO PROVISIONAL VISIBLE TRADE FIGURES PUBLISHED BY THE CENSUS AND STATISTICS DEPARTMENT TODAY (TUESDAY).

WITH IMPORTS AT $11 340 MILLION, THE VISIBLE TRADE DEFICIT FOR MAY WAS $726 MILLION.

COMPARED WITH THE SAME MONTH IN 1981, THE VALUE OF TOTAL EXPORTS INCREASED BY $312 MILLION OR THREE PER CENT COMPRISING NO GROWTH IN DOMESTIC EXPORTS AND AN INCREASE OF 10 PER CENT FOR RE-EXPORTS.

THE VALUE OF IMPORTS DECREASED BY $397 MILLION OR THREE PER CENT. THE VISIBLE TRADE GAP', THAT IS THE PROPORTION OF THE VALUE OF IMPORTS NOT COVERED BY THE VALUE OF TOTAL EXPORTS, AT SIX PER CENT IN MAY THIS YEAR, WAS A SIGNIFICANT REDUCTION ON 12 PER CENT IN MAY 1981.

COMMENTING ON THE FIGURES, A GOVERNMENT SPOKESMAN SAID THAT UNDER THE INFLUENCE OF DEPRESSED ECONOMIC CONDITIONS IN HONG KONG'S MA IN MARKETS, EXPORTS IN MAY WERE NOT PARTICULARLY IMPRESSIVE. BUT HE POINTED OUT THAT HONG KONG WAS GENERALLY DOING BETTER

IN TERMS OF DOMESTIC EXPORTS THAN ITS MAIN COMPETITORS IN THE REGION. ALSO, HE SAID, THE ECONOMIES OF MOST OF HONG KONG'S MAIN MARKETS WERE FORECAST TO IMPROVE LATER THIS YEAR, AND HONG KONG WOULD BE IN A GOOD POSITION TO BENEFIT FROM AN INCREASE IN CONSUMER DEMAND.

AS CONSUMER DEMAND IN HONG KONG WAS, AT THE SAME TIME, NOT PARTICULARLY STRONG, THERE WAS A REDUCTION IN THE TOTAL IMPORT BILL IN MAY. THIS REDUCTION CONTRIBUTED TO A NARROWING OF THE VISIBLE TRADE 'GAP”.

PUTTING THE TRADE STATISTICS FOR MAY INTO CONTEXT, THE SPOKESMAN POINTED OUT THAT DOMESTIC EXPORTS AND RE-EXPORTS IN VALUE TERMS IN THE FIRST FIVE MONTHS OF THIS YEAR WERE SEVEN PER CENT AND 10 PER CENT RESPECTIVELY HIGHER THAN IN THE CORRESPONDING PERIOD OF 1981.

THE VALUE OF TOTAL EXPORTS INCREASED BY EIGHT PER CENT, COMPARED WITH AN INCREASE OF FIVE PER CENT IN THE VALUE OF

IMPORTS. THE VISIBLE TRADE 'GAP NARROWED TO 14 PER CENT IN THE FIRST FIVE MONTHS OF 1982, COMPARED WITH 17 PER CENT IN THE CORRESPONDING PERIOD OF 1981.

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