XN000022-1986-09-25 — Page 8

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THUMA DAY, LITENSER 5, 1986

OVER THIS PERIOD, THE VALUE OF IMPORTS GREW BY $20 240 MILLION OR 13.4 PER CENT, TO $170 988 MILLION. AS THE VALUE OF IMPORTS GREN AT A FASTER RATE THAN THAT OF TOTAL EXPORTS, A VISIBLE TRADE GAP OF 1.4 PER CENT WAS RECORDED IN THE FIRST EIGHT MONTHS OF 1986, COMPARED WITH A VISIBLE TRADE SURPLUS EQUIVALENT TO 2.4 PER CENT OF THE VALUE OF IMPORTS IN THE FIRST EIGHT MONTHS OF 1985.

COMMENTING ON THESE FIGURES, A GOVERNMENT SECRETARIAT SPOKESMAN SAID THAT THE RECOVERY IN DOMESTIC EXPORTS, WHICH BEGAN IN MARCH 1986, HAS GATHERED MOMENTUM IN RECENT MONTHS. THE DEPRECIATION OF THE HONG KONG DOLLAR, IN LINE WITH THE U.S. DOLLAR UNDER THE LINKED EXCHANGE RATE SYSTEM, AGAINST MOST MAJOR CURRENCIES HAS ENHANCED THE COMPETITIVENESS OF HONG KONG'S DOMESTIC EXPORTS.

THE VALUE OF RE-EXPORTS HAS RESUMED POSITIVE GROWTH SINCE APRIL 1986, AFTER HAVING DECLINED ON A YEAR-ON-YEAR BASIS IN THE FIRST QUARTER OF THE YEAR. THE RECOVERY IN RE-EXPORTS WAS PARTLY ATTRIBUTABLE TO CHINA'S EFFORTS IN PROMOTING ITS EXPORTS, RESULTING IN MORE CHINA GOODS BEING CHANELLED THROUGH HONG KONG TO MARKETS OVERSEAS.

THE FOLLOWING TABLE PRESENTS THE PROVISIONAL MERCHANDISE TRADE FIGURES FOR AUGUST 1986:

MERCHANDISE:

DOMESTIC EXPORTS : $14 789 MILLION

RE-EXPORTS

$10 630 MILLION

TOTAL EXPORTS

$25 428 MILLION

IMPORTS

23 495 MILLION

TRADE BALANCE

$ 1 933 MILLION (IN SURPLUS)

COMPARATIVE FIGURES

JUN 86 TO

AUG 86

LATEST 3 MONTHS

HK$ MN.

JUN 85 ΤΟ AUG 85 HK$ MN.

INCREASE

HK$ MN.

DOMESTIC EXPORTS

41 614

34 515

7 099

23.6

RE-EXPORTS

30 792

26 061

4 731

18.2

TOTAL EXPORTS

72 406

60 576

11 830

19.5

/IMPORTS

70 490