XN000022-1982-09-28 — Page 6

TUESDAY, SEPTEMBER 28, 1982

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PROVISIONAL TRADE FIGURES FOR AUGUST 1982

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THE CENSUS AND STATISTICS DEPARTMENT TODAY (TUESDAY) PUBLISHED THE PROVISIONAL TRADE FIGURES FOR HONG KONG'S VISIBLE TRADE IN AUGUST 1982. THE VALUE OF TOTAL EXPORTS FOR AUGUST WAS $11 355 MILLION, MADE UP OF DOMESTIC EXPORTS OF $7 742 MILLION AND RE-EXPORTS OF $3 613 MILLION. WITH IMPORTS AT $11 583 MILLION, THE VISIBLE TRADE DEFICIT FOR AUGUST WAS $228 MILLION.

COMPARED WITH THE TRADE FIGURES FOR THE SAME MONTH IN 1981, THERE WERE THE FOLLOWING INCREASES IN VALUE: $255 MILLION OR THREE PER CENT FOR DOMESTIC EXPORTS, $150 MILLION OR FOUR PER CENT FOR RE-EXPORTS, $405 MILLION OR FOUR PER CENT FOR TOTAL EXPORTS AND $322 MILLIÓN OR THREE 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, AT TWO PER CENT IN AUGUST THIS YEAR WAS SOMEWHAT SMALLER THAN IN AUGUST 1981 AT THREE PER CENT.

COMMENTING ON THE FIGURES, A GOVERNMENT SPOKESMAN SAID THAT AS THE ECONOMIC RECESSION IN HONG KONG'S MAIN MARKETS PERSISTED, THE GROWTH RATE IN THE VALUE OF DOMESTIC EXPORTS IN AUGUST, ÁT THREE PER CENT REMAINED LOW, COMPARED WITH A GROWTH RATE OF SIX PER CENT IN THE FIRST HALF OF THIS YEAR. THERE WAS AT THE SAME TIME NO SIGNIFICANT INCREASE IN THE IMPORT BILL. THIS HAS CONTRIBUTED TO A NARROWING OF THE VISIBLE TRADE GAP. HOWEVER, HE POINTED OUT THAT THE EXCEPTIONALLY LARGE IMPROVEMENT IN THE VISIBLE TRADE DEFICIT FROM $1 118 MILLION IN JULY TO $228 MILLION IN AUGUST THIS YEAR WAS MOSTLY SEASONAL.

PUTTING THE MONTH'S TRADE FIGURES INTO CONTEXT, THE GOVERNMENT SPOKESMAN SAID THAT COMPARING THE FIRST EIGHT MONTHS OF THIS YEAR WITH THE FIRST EIGHT MONTHS OF 1981, THE GROWTH RATE OF THE VALUE OF TOTAL EXPORTS, AT SEVEN PER CENT, WAS FASTER THAN THAT OF IMPORTS, AT FOUR PER CENT. AS A CONSEQUENCE, THE VISIBLE TRADE GAP NARROWED TO 12 PER CENT IN THE FIRST EIGHT MONTHS OF THIS YEAR FROM 14 PER CENT IN THE CORRESPONDING PERIOD OF 1981.

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