XN000022-1982-12-30 — Page 6

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THURSDAY, DECEMBER 30, 1982

PROVISIONAL TRADE FIGURES FOR NOVEMBER

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THE VALUE OF TOTAL EXPORTS FOR NOVEMBER WAS $11 088 MILLION, MADE UP OF DOMESTIC EXPORTS OF $7 148 MILLION AND RE-EXPORTS OF $3 940 MILLION, WITH IMPORTS AT $12 199 MILLION, THE VISIBLE TRADE DEFICIT FOR NOVEMBER WAS $1 111 MILLION.

THIS IS SHOWN IN PROVISIONAL TRADE FIGURES FOR HONG KONG'S VISIBLE TRADE IN NOVEMBER 1982, PUBLISHED TODAY BY THE CENSUS AND STATISTICS DEPARTMENT.

COMPARED WITH THE SAME MONTH IN 1981, THE VALUE OF TOTAL EXPORTS INCREASED BY $104 MILLION OR ONE PER CENT, COMPRISING NO GROWTH FOR RE-EXPORTS AND AN INCREASE OF TWO PER CENT FOR DOMESTIC EXPORTS. THE VALUE OF IMPORTS DECREASED BY $298 MILLION. OR TWO PER CENT. AS A RESULT,

AS A RESULT, THE VISIBLE TRADE GAP, THAT IS THE VALUE OF IMPORTS NOT COVERED BY THE VALUE OF TOTAL EXPORTS, IN NOVEMBER THIS YEAR WAS, AT NINE PER CENT, SIGNIFICANTLY BELOW THAT IN NOVEMBER 1981, WHEN IT WAS 12 PER CENT.

THE PROPORTION OF

COMMENTING ON THE NOVEMBER TRADE FIGURES, A GOVERNMENT SPOKESMAN SAID THAT, AS THE GENERALLY UNFAVOURABLE ECONOMIC CONDITIONS IN HONG KONG'S MAIN MARKETS PERSISTED, THE GROWTH RATE OF DOMESTIC EXPORTS, AT ONLY TWO PER CENT IN VALUE TERMS, REMAINED LOW. GIVEN THAT BOTH CONSUMER DEMAND AND THE DEMAND FOR MANUFACTURING INPUTS IN HONG KONG REMAINED WEAK, THERE WAS A REDUCTION IN THE TOTAL IMPORT BILL IN NOVEMBER.

PUTTING THE NOVEMBER TRADE FIGURES INTO CONTEXT, THE SPOKESMAN SAID, +COMPARING THE FIRST ELEVEN MONTHS OF 1982 WITH THE CORRESPONDING PERIOD OF 1981, THE GROWTH RATE OF THE VALUE OF TOTAL EXPORTS, AT FOUR PER CENT, WAS SLIGHTLY FASTER THAN THAT OF IMPORTS. AT THREE PER CENT. IN CONSEQUENCE, THE VISIBLE TRADE GAP HAD NARROWED TO 11 PER CENT, FROM 12 PER CENT IN THE SAME PERIOD OF 1981.+

THE CENSUS AND STATISTICS DEPARTMENT HAS RELEASED THE FOLLOWING PROVISIONAL MERCHANDISE TRADE FIGURES FOR NOVEMBER :

MERCHANDISE.

DOMESTIC EXPORTS

$7 148 MILLION

RE-EXPORTS

$ 3 940 MILLION

TOTAL EXPORTS

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$11 088 MILLION

IMPORTS

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$12 199 MILLION

TRADE BALANCE

$ 1 111 MILLION

(IN DEFICIT)

/COMPARATIVE