XN000022-1984-12-12 — Page 5

WEDNESDAY, DECEMBER 12, 1984

THE VALUE OF DOMESTIC EXPORTS OF CLOTHING ITEMS ROSE FROM $7.5 BILLION IN 1973 TO $34.4 BILLION IN 1983, AN INCREASE OF 360 PER CENT.

DURING THE FIRST NINE MONTHS OF THIS YEAR, DOMESTIC EXPORTS INCREASED NEARLY 44 PER CENT OVER THE SAME PERIOD LAST YEAR.

+SUCH AN IMPRESSIVE GROWTH RECORD BEARS WITNESS TO THE INGENUITY OF OUR ENTERPRISING MANUFACTURERS AMID THE GROWING PRESSURES AND RESTRICTIONS IMPOSED ON US BY OUR MAJOR IMPORTING COUNTRIES, MR YAXLEY SAID.

FACED WITH INCREASINGLY KEEN COMPETITION FROM NEIGHBOURING COUNTRIES AND INCREASING MATERIAL COSTS, LABOUR SHORTAGES AND RISING WAGES, THE LOCAL CLOTHING INDUSTRY HAD SOUGHT TO MOVE UP-MARKET BY MAKING HIGHER VALUE AND MORE FASHION-ORIENTED PRODUCTS.

THE PROCESS OF TRADING UP HAD BEEN SUCCESSFUL, MR YAXLEY SAID.

+TO MAINTAIN THIS GROWTH AND SUCCESS IN THE FUTURE WE MUST CONTINUE TO EXCEL IN THE PRODUCTION OF HIGHER QUALITY GOODS AND IN THE PURSUIT OF GREATER PRODUCTIVITY.

+TO ACHIEVE THESE OBJECTIVES INCREASING EMPHASIS MUST BE GIVEN FIRSTLY TO ORIGINAL DESIGN AND FINE WORKMANSHIP, AND SECONDLY TO THE ADOPTION OF ADVANCED MANAGEMENT AND PRODUCTION TECHNIQUES,+ THE DIRECTOR SAID.

OCTOBER EXTERNAL TRADE FIGURES RELEASED ******

TOTAL MERCHANDISE TRADE FOR JANUARY-OCTOBER 1984, VALUED AT $363 533 MILLION, INCREASED BY 36 PER CENT AS COMPARED WITH TRADE FOR THE SAME PERÍOD IN 1983, ACCORDING TO TRADE STATISTICS RELEASED TODAY BY THE CENSUS AND STATISTICS DEPARTMENT.

ON THE SAME BASIS OF COMPARISON, DOMESTIC EXPORTS ROSE BY 38 PER CENT TO $114 362 MILLION, IMPORTS BY 31 PER CENT TO $182 693 MILLION AND RE-EXPORTS BY 50 PER CENT TO $66 478 MILLION. DOMESTIC EXPORTS AND RE-EXPORTS TOGETHER SHOWED AN INCREASE OF 42 PER CENT.

A COMPARISON OF THE FIRST TEN MONTHS OF 1984 WITH THE SAME PERIOD LAST YEAR, SHOWED DOMESTIC EXPORTS TO THE U.S.A. ROSE BY 48 PER CENT IN VALUE.

'SUBSTANTIAL INCREASES