10
SATURDAY, JUNE 25, 1988
COMMENTING ON THESE FIGURES, A GOVERNMENT SPOKESMAN
SAID THAT THE SLOW-DOWN IN THE GROWTH OF DOMESTIC EXPORTS RECORDED IN RECENT MONTHS WAS LARGELY THE RESULT OF A SLOWER GROWTH IN DEMAND FOR HONG KONG'S PRODUCTS IN SOME OF THE MAJOR OVERSEAS MARKETS, PARTICULARLY THE UNITED STATES, AND OF A GRADUAL REDUCTION OF THE BENEFICIAL EFFECT ON EXTERNAL COMPETITIVENESS BROUGHT ABOUT BY THE DEPRECIATION OF THE HONG KONG DOLLAR (IN LINE WITH THE US DOLLAR) DURING 1987.
ON THE OTHER HAND, RE-EXPORT TRADE WITH CHINA CONTINUED TO CONTRIBUTE SIGNIFICANTLY TO THE RAPID GROWTH IN HONG KONG'S OVERALL RE-EXPORTS.
DURING THE FIRST FIVE MONTHS OF 1988, IN GROSS VALUE TERMS RE-EXPORTS ACCOUNTED FOR 55 PER CENT OF HONG KONG'S TOTAL EXPORTS, AS COMPARED TO A FIGURE OF SLIGHTLY OVER 48 PER CENT DURING THE SAME PERIOD IN 1987.
THE FOLLOWING TABLE PRESENTS THE PROVISIONAL MERCHANDISE FIGURES FOR MAY 1988.
TRADE
MERCHANDISE:
DOMESTIC EXPORTS RE-EXPORTS
TOTAL EXPORTS
IMPORTS
TRADE BALANCE
COMPARATIVE FIGURES
LATEST 3 MONTHS
$17,274 MILLION
: $21,460 MILLION $38,734 MILLION $39,558 MILLION $824 MILLION
[ IN DEFICIT]
MAR 88
ΤΟ MAY 88
HK$ MN.
MAR 87
TO
MAY 87 HK$ MN.
INCREASE
HK$ MN.
%
DOMESTIC EXPORTS
17,382
45,458
RE-EXPORTS
60,685
42,809
1,924
17,876 41.8
4.2
TOTAL EXPORTS
108,067
88,267
19,800 22.4
IMPORTS
116,885
92,394
21.191
26.5
TRADE BALANCE
-8,818
-4.127
-4,691
/SAME MONTH
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