XN000022-1983-06-30 — Page 2

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THURSDAY, JUNE 30, 1983

PROVISIONAL TRADE FIGURES FOR MAY

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HONG KONG'S TOTAL EXPORTS OF GOODS IN MAY GREW BY 16 PER CENT, OR $1 647 MILLION COMPARED WITH MAY LAST YEAR, TO REACH $12 261 MILLION, ACCORDING TO PROVISIONAL TRADE FIGURES PUBLISHED TODAY BY THE CENSUS AND STATISTICS DEPARTMENT.

THIS TOTAL WAS MADE UP OF $8 003 MILLION FOR DOMESTIC EXPORTS AND $4 258 MILLION FOR RE-EXPORTS.

DOMESTIC EXPORTS INCREASED BY 17 PER CENT OR $1 149 MILLION AND RE-EXPORTS BY 13 PER CENT OR $498 MILLION COMPARED WITH MAY 1982.

WITH IMPORTS AT $13 933 MILLION, AN INCREASE OF 23 PER CENT OR $2 593 MILLION OVER MAY 1982, THE VISIBLE TRADE DEFICIT FOR MAY THIS YEAR WAS $1 672 MILLION.

THE VISIBLE TRADE GAP - THE PROPORTION OF THE VALUE OF IMPORTS NOT COVERED BY THAT OF TOTAL EXPORTS - WAS THUS 12 PER CENT, COMPARED WITH SIX PER CENT IN MAY LAST YEAR.

PUTTING MAY'S TRADE FIGURES INTO CONTEXT, A GOVERNMENT SPOKESMAN POINTED OUT THAT THE VALUES OF DOMESTIC EXPORTS AND OF RE-EXPORTS IN THE FIRST FIVE MONTHS OF THIS YEAR WERE 11 PER CENT AND NINE PER CENT RESPECTIVELY HIGHER THAN IN THE SAME PERIOD LAST YEAR. AS THE GROWTH RATE OF THE VALUE OF IMPORTS WAS EIGHT PER CENT, THE VISIBLE TRADE GAP IN THE FIRST FIVE MONTHS OF THIS YEAR NARROWED SLIGHTLY TO 13 PER CENT FROM 14 PER CENT RECORDED IN THE SAME PERIOD OF 1982.

COMMENTING ON THESE COMPARATIVE FIGURES, A GOVERNMENT

SECRETARIAT SPOKESMAN SAID,

+IT IS ENCOURAGING TO NOTE THAT THE RAPID GROWTH IN THE VALUE OF IMPORTS IN MAY WAS AT LEAST IN PART DUE TO THE CONTINUED INCREASE IN RETAINED IMPORTS OF RAW MATERIALS AND SEMI-MANUFACTURES. IT IS THEREFORE, LIKELY THAT DOMESTIC EXPORT PERFORMANCE WILL CONTINUE TO IMPROVE IN THE MONTHS AHEAD.+

THE FOLLOWING TABLE SHOWS THE PROVISIONAL MERCHANDISE TRADE FIGURES FOR MAY 1983:-

MERCHANDISE

DOMESTIC EXPORTS 1 $ 8 003 MILLION

RE-EXPORTS

TOTAL EXPORTS

IMPORTS

TRADE BALANCE

$ 4 258 MILLION

$12 261 MILLION

$13 933 MILLION

$ 1 672 MILLION (IN DEFICIT)

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COMPARATIVE FIGURES