XN000022-1988-04-26 — Page 2

TUESDAY, APRIL 26, 1988

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PROVISIONAL TRADE FIGURES FOR MARCH 1988

HONG KONG'S DOMESTIC EXPORTS RECORDED A SMALL DECLINE IN MARCH THIS YEAR OVER THE SAME MONTH LAST YEAR. HOWEVER, GIVEN THE STRONG PERFORMANCE IN FEBRUARY, THE CORRESPONDING GROWTH RATE OF DOMESTIC EXPORTS FOR THE FIRST QUARTER OF 1988 AS A WHOLE WAS STILL SIGNIFICANT.

THIS IS SHOWN IN THE PROVISIONAL TRADE FIGURES (TUESDAY) BY THE CENSUS AND STATISTICS DEPARTMENT.

RELEASED TODAY

IN MARCH, WHILE

THE YEAR-ON-YEAR GROWTH RATE OF RE-EXPORTS SUBSTANTIAL, WAS CONSIDERABLY LOWER THAN IN JANUARY AND

STILL FEBRUARY.

AGAIN ON A YEAR-ON-YEAR COMPARISON, THE GROWTH RATE OF IMPORTS ROSE ABOVE THAT IN FEBRUARY, BUT WAS MUCH BELOW THAT IN JANUARY,

CAUTION SHOULD BE EXERCISED IN INTERPRETING THE TRADE FIGURES FOR ANY INDIVIDUAL MONTH IN ISOLATION, IN VIEW OF THE FLUCTUATIONS THAT MAY OCCUR FROM MONTH TO MONTH.

FAIRLY WIDE FLUCTUATIONS HAVE BEEN EXPERIENCED DURING THE FIRST THREK MONTHS OF THIS YEAR, REFLECTING IN PART THE TIMING OF THE LUNAR NEW YEAR HOLIDAYS.

THE VALUE OF DOMESTIC EXPORTS IN MARCH 1988 WAS $14,052 MILLION, THREE PER CENT OR $431 MILLION LOWER THAN IN MARCH 1987, WHILE THE VALUE OF RE-EXPORTS INCREASED BY 34.1 PER CENT OR $4,726 MILLION TO $18,590 MILLION.

THE VALUE OF TOTAL EXPORTS (DOMESTIC EXPORTS PLUS RE-EXPORTS), AT $32,642 MILLION IN MARCH 1988, WAS 15.2 PER CENT OR $4,295 MILLION HIGHER THAN IN MARCH 1987.

THE VALUE OF IMPORTS GREW BY 21.2 PER CENT OR $6,515 MILLION OVER THE YEAR, TO $37,246 MILLION IN MARCH 1988.

AS THE VALUE OF IMPORTS IN MARCH 1988 WAS LARGER THAN THAT OF TOTAL EXPORTS, A VISIBLE TRADE DEFICIT OF $4,604 MILLION, EQUIVALENT TO 12.4 PER CENT OF THE VALUE OF IMPORTS, WAS RECORDED IN THAT MONTH.

THIS COMPARES WITH A DEFICIT OF $2,384 MILLION, EQUIVALENT TO 7.8 PER CENT OF THE VALUE OF IMPORTS, RECORDED IN MARCH 1987.

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PUTTING THE FIGURES FOR MARCH INTO PERSPECTIVE THE VALUE OF TOTAL EXPORTS IN THE FIRST QUARTER OF 1988 WAS $97,037 MILLION, MADE UP OF DOMESTIC EXPORTS OF $44,169 MILLION AND RE-EXPORTS OF $52,868 MILLION.

/COMPARED WITH