XN000022-1987-08-26 — Page 2

WEDNESDAY, AUGUST 26, 1987

PROVISIONAL TRADE FIGURES FOR JULY 1987

THE RAPID GROWTH IN KYTERNAL TRADE CONTINUED IN JULY 1987. ACCORDING TO THE PROVISIONAL TRADE FIGURES PUBLISHED TODAY (WEDNESDAY) BY THE CENSUS AND STATISTICS DEPARTMENT.

THE VALUE OF DOMESTIC EXPORTS IN JULY 1987 WAS $18,918 MILLION, 32.8 PER CENT OR $4,678 MILLION MORE THAN IN JULY 1986, WHILE THE VALUE OF RE-EXPORTS INCREASED BY 54.3 PER CENT OR $5,734 MILLION ΤΟ $16,298 MILLION.

TAKING DOMESTIC EXPORTS AND RE-EXPORTS TOGETHER, THE VALUE OF TOTAL EXPORTS, AT $35,246 MILLION, WAS 41.9 PER CENT OR $10,412 MILLION HIGHER THAN IN JULY 1986.

THE VALUE OF IMPORTS GREW BY 37.8 PER CENT OR $9,138 MILLION OVER JULY 1986 TO $33,298 MILLION.

AS THE VALUE OF TOTAL EXPORTS IN JULY 1987 WAS GREATER THAN THAT OF IMPORTS, A VISIBLE TRADE SURPLUS OF $1,948 MILLION WAS RECORDED, EQUIVALENT TO 5.9 PER CENT OF THE VALUE OF IMPORTS. THIS COMPARES WITH A SURPLUS OF $671 MILLION, FQUIVALENT TO

2.8 PER CENT OF THE VALUE OF IMPORTS, RECORDED IN JULY 1986,

PUTTING THE MONTH'S TRADE FIGURES INTO CONTEXT, THE VALUE OF TOTAL EXPORTS FOR THE FIRST SEVEN MONTHS OF 1987 WAS $201,165 MILLION, MADE UP OF DOMESTIC EXPÓRTS OF $104,740 MILLION AND RE-EXPORTS OF $96,125 MILLION.

COMPARED WITH THE SAME PERIOD IN 1986, THE VALUE OF TOTAL EXPORTS GREW BY $57,925 MILLION OR 40.4 PER CENT. THAT OF DOMESTIC EXPORTS BY $25,096 MILLION OR 31.5 PER CENT, AND THAT OF RE-EXPORTS

$32,829 MILLION OR 51.6 PER CENT.

BY

OVER THIS PERIOD, THE VALUE OF IMPORTS GREW BY $57, 957 MILLION OR 39.3 PER CENT, TO $205,151 MILLION.

A CUMULATIVE VISIBLE TRAPE DEFICIT OF $1,286 MILLJON, EQUIVALENT TO 2.1 PER CENT OF THE VALUE OF IMPORTS, WAS RECORDED IN THE FIRST SEVEN MONTHS OF 1987. THIS COMPARES WITH A VISIBLE TRADE DEFICIT OF $4,254 MILLION, EQUIVALENT TO 2.4 PER CENT OF THE VALUE OF DIPORTS, RECORDED IN THE SAME PERIOD IN 1986

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COMMENTING ON TURSK FIGURES, A GOVERNMENT SECRETARIAT SPOKESMAN SAID THAT THE SUBSTANTIAL GROWTH IN DOMESTIC* EXPORTS IN RECENT MONTIIS WAS MAINLY ATTRIBUTABLE

SUSTAINED DEMAND FOR HONG KONG'S PRODUCTS IN OVPIGEAS MARKETS, AND TO THE STIMULATION CAUSED BY THE DEPRECIATION OF TH HONG KONG DOLLAR, IN LINE WITH THAT OF THE US DOLLAR, AGAINST MOST »THER MAJOR CURRENCIES DURING THE COURSE OF 1986 AND IN EARLY 1987.

/THE EVEN