XN000022-1986-11-25 — Page 4

TUESDAY, NOVEMBER 25, 1986

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PROVISIONAL TRADE FIGURES FOR OCTOBER

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THE STRONG GROWTH IN EXTERNAL TRADE CONTINUED IN OCTOBER 1986. THE VALUE OF DOMESTIC EXPORTS IN OCTOBER 1986, AT $15 359 MILLION, GREW BY 37.6 PER CENT OR $4 195 MILLION COMPARED WITH OCTOBER 1985, WHILE THE VALUE OF RE-EXPORTS GREW BY 45.7 PER CENT OR $3 858 MILLION TO $12 292 MILLION, ACCORDING TO THE PROVISIONAL TRADE FIGURES PUBLISHED TODAY BY THE CENSUS AND STATISTICS DEPARTMENT.

TAKING DOMESTIC EXPORTS AND RE-PORTS TOGETHER, THE VALUE OF TOTAL EXPORTS, AT $27 651 MILLION, WAS 41.1 PER CENT OR $8 053 MILLION HIGHER THAN IN OCTOBER 1985. THE VALUE OF IMPORTS GREW BY 40.3 PER CENT OR $8 040 MILLION OVER OCTOBER 1985 TO REACH $28 006 MILLION.

AS THE GROWTH IN THE VALUE OF TOTAL EXPORTS WAS FASTER THAN THAT OF IMPORTS, A SMALLER VISIBLE TRADE GAP (THAT IS, THE PROPORTION OF THE VALUE OF IMPORTS NOT COVERED BY THE VALUE OF TOTAL EXPORTS) OF 1.3 PER CENT WAS RECORDED IN OCTOBER 1986, COMPARED WITH 1.8 PER CENT IN OCTOBER 1985.

PUTTING THE MONTH'S TRADE FIGURES INTO CONTEXT, A GOVERNMENT SPOKESMAN POINTED OUT THAT THE VALUE OF TOTAL EXPORTS FOR THE FIRST TEN MONTHS OF 1986 WAS $221 390 MILLION, MADE UP OF DOMESTIC EXPORTS OF $123 746 MILLION AND RE-EXPORTS OF $97 644 MILLION.

COMPARED WITH THE FIRST TEN MONTHS OF 1985, THE VALUE OF TOTAL EXPORTS GREW BY $28 202 MILLION OR 14.6 PER CENT, OF DOMESTIC EXPORTS BY $17 639 MILLION OR 16.6 PER CENT, AND OF RE-EXPORTS BY $10 563 MILLION OR 12.1 PER CENT.

OVER THIS PERIOD, THE VALUE OF IMPORTS GREW BY $33 519 MILLION OR 17.7 PER CENT, TO $222 442 MILLION.

AS THE VALUE OF IMPORTS GREW AT A FASTER RATE THAN THAT OF TOTAL EXPORTS. A VISIBLE TRADE GAP OF 0.5 PER CENT WAS RECORDED IN THE FIRST TEN MONTHS OF 1986, COMPARED WITH A VISIBLE TRADE SURPLUS EQUIVALENT TO 2.3 PER CENT OF THE VALUE OF IMPORTS IN THE FIRST TEN MONTHS OF 1985.

COMMENTING ON THESE FIGURES, A GOVERNMENT SECRETARIAT SPOKESMAN SAID THAT DOMESTIC EXPORTS HAVE EXHIBITED STRONG GROWTH IN RECENT MONTHS. APART FROM THE IMPROVED DEMAND FOR HONG KONG'S PRODUCTS IN MOST OF THE MAJOR OVERSEAS MARKETS, THE DEPRECIATION OF THE HONG KONG DOLLAR, IN LINE WITH THAT OF THE U.S. DOLLAR UNDER THE LINKED EXCHANGE RATE SYSTEM, AGAINST MOST OTHER MAJOR CURRENCIES IN THE EARLIER PART OF THE YEAR WAS A MAJOR CONTRIBUTORY FACTOR.

/HE ADDED