XN000022-1983-05-26 — Page 2

1

THURSDAY, MAY 26, 1983

APRIL EXPORTS RISE 16 PER CENT

******

DOMESTIC EXPORTS IN APRIL THIS YEAR INCREASED BY 16 PER CENT, OR $1 071 MILLION OVER DOMESTIC EXPORTS FOR THE SAME MONTH LAST YEAR, TO REACH $7 612 MILLION, ACCORDING TO PROVISIONAL TRADE FIGURES PUBLISHED TODAY BY THE CENSUS AND STATISTICS DEPARTMENT.

OVER THE SAME PERIOD, RE-EXPORTS, AT $4 171 MILLION, ALSO ROSE BY 16 PER CENT OR $582 MILLION.

TAKING DOMESTIC EXPORTS AND RE-EXPORTS TOGETHER, TOTAL EXPORTS AT $11 783 MILLION, WERE 16 PER CENT OR $1 653 MILLIÓN HIGHER THAN ÎN APRIL OF 1982.

WITH IMPORTS AT $13 533 MILLION, WHICH GREW BY 10 PER CENT OR $1 231 MILLION, THE VISIBLE TRADE DEFICIT FOR THE MONTH WAS $1 750 MILLION.

THE VISIBLE TRADE GAP THE PROPORTION OF IMPORTS NOT COVERED BY THAT OF TOTAL EXPORTS THUS NARROWED SIGNIFICANTLY TO 13 PER CENT FROM 18 PER CENT OF APRIL LAST YEAR.

A GOVERNMENT SPOKESMAN COMMENTED THAT THE YEAR-ON-YEAR GROWTH RATES IN VALUE TERMS OF DOMESTIC EXPORTS AND RE-EXPORTS IN APRIL SHOVED REMARKABLE IMPROVEMENT OVER THEIR CORRESPONDING AVERAGE GROWTH MATES IN THE FIRST QUARTER. THIS MAY SUGGEST THAT THE STEADY RECOVERY OF THE HONG KONG ECONOMY FROM THE EFFECTS OF THE WORLD RECESSION NOTED IN THE FIRST QUARTER NOT ONLY CONTINUED, BUT GATHERED PACE_IN APRIL. FURTHER, THE SUBSTANTIAL RECOVERY IN THE YEAR-ON-YEAR GROWTH RATE OF THE VALUE OF IMPORTS TO 10 PER CENT FROM AN AVERAGE OF ONLY TWO PER CENT IN THE FIRST QUARTER WAS ALSO ENCOURAGING, AS IT PROBABLY IMPLIED SOME INCREASE IN RETAINED IMPORTS OF RAW MATERIALS AND SEMI-MANUFACTURES.

PUTTING LAST MONTH'S TRADE FIGURES INTO CONTEXT, THE SPOKESMAN POINTED OUT THAT THE VALUES OF DOMESTIC EXPORTS AND RE-EXPORTS IN THE FIRST FOUR MONTHS OF THIS YEAR WERE UP BY NINE PER CENT AND EIGHT PER CENT RESPECTIVELY OVER THE CORRESPONDING PERIOD OF LAST YEAR. AS THE VALUE OF IMPORTS WAS ONLY FOUR PER CENT HIGHER THE VISIBLE TRADE GAP IN THE FIRST FOUR MONTHS OF THIS YEAR STOOD AT 13 PER CENT, SIGNIFICANTLY SMALLER THAN THE 16 PER CENT RECORDED FOR THE SIMILAR PERIOD OF 1982.

THE FOLLOWING TABLE SHOWS THE PROVISIONAL MERCHANDISE TRADE FIGURES FOR APRIL 1983-

MERCHANDISE.

DOMESTIC EXPORTS

$ 7 612 MILLION

RE-EXPORTS

$ 4 171 MILLION

TOTAL EXPORTS

IMPORTS

TRADE BALANCE

$11 783 MILLION

$13 533 MILLION

$ 1 750 MILLION

(IN DEFICIT)

/COMPARATIVE

E