XN000022-1988-12-24 — Page 2

SATURDAY, DECEMBER 24, 1988

1

PROVISIONAL TRADE FIGURES FOR NOVEMBER RELEASED

**

THE YEAR- WHILE

HONG KONG'S EXTERNAL TRADE GREW STRONGLY IN NOVEMBER. ON-YEAR GROWTH RATE OF DOMESTIC EXPORTS PICKED UP MARKEDLY, THOSE OF RE-EXPORTS AND IMPORTS CONTINUED TO BE SUBSTANTIAL.

THIS IS SHOWN BY THE PROVISIONAL TRADE FIGURES RELEASED (SATURDAY) BY THE CENSUS AND STATISTICS DEPARTMENT.

TODAY

+

THE VALUE OF DOMESTIC EXPORTS IN NOVEMBER 1988 WAS $20,052 MILLION, $2,975 MILLION OR 17.4 PER CENT HIGHER THAN IN NOVEMBER 1987 WHILE THE VALUE OF RE-EXPORTS INCREASED BY 57.7 PER CENT OR $10,139 MILLION TO $27,706 MILLION.

THE VALUE OF TOTAL EXPORTS (DOMESTIC EXPORTS PLUS RE-EXPORTS), AT $47,758 MILLION IN NOVEMBER 1988, WAS THUS $13,114 MILLION OR 37.9 PER CENT HIGHER THAN IN NOVEMBER 1987.

THE VALUE OF IMPORTS GREW BY 40.7 PER CENT OR $13,956 MILLION OVER A YEAR EARLIER, TO $48,226 MILLION IN NOVEMBER 1988.

THE VISIBLE TRADE BALANCE IN NOVEMBER 1988 RECORDED A DEFICIT OF $468 MILLION, EQUIVALENT TO 1.0 PER CENT OF THE VALUE OF IMPORTS.

THIS COMPARES WITH A SURPLUS OF $374 MILLION, EQUIVALENT 1.1 PER CENT OF THE VALUE OF IMPORTS, RECORDED IN NOVEMBER 1987.

PUTTING THE TRADE FIGURES FOR NOVEMBER IN PERSPECTIVE, VALUE OF TOTAL EXPORTS IN THE FIRST 11 MONTHS OF 1988 $443,773 MILLION, MADE UP OF DOMESTIC EXPORTS OF $196,491 MILLION RE-EXPORTS OF $247,282 MILLION.

TO

THE

WAS

AND

COMPARED WITH THE FIRST 11 MONTHS IN 1987, IN VALUE TERMS TOTAL EXPORTS GREW BY $103,644 MILLION EXPORTS BY $20,087 MILLION OR 11.4 PER $83,557 MILLION OR 51.0 PER CENT.

OR

30.5 CENT,

PER CENT. DOMESTIC AND RE-EXPORTS BY

OVER THE SAME PERIOD, THE VALUE OF IMPORTS MILLION OR 32.3 PER CENT, TO $448,615 MILLION.

GREW BY $109,485

A VISIBLE TRADE DEFICIT OF $4,842 MILLION, EQUIVALENT TO 1.1 PER CENT OF THE VALUE OF IMPORTS, WAS RECORDED IN THE FIRST 11 MONTHS OF 1988.

THIS COMPARES WITH THE SITUATION DURING THE SAME PERIOD LAST YEAR, WHEN A VISIBLE TRADE SURPLUS OF $999 MILLION, EQUIVALENT TO 0.3 PER CENT OF THE VALUE OF IMPORTS, WAS RECORDED.

COMMENTING ON THESE FIGURES, A GOVERNMENT SECRETARIAT SPOKESMAN NOTED THAT THE YEAR-ON-YEAR GROWTH RATE OF DOMESTIC EXPORTS

TERMS IN NOVEMBER, AT 17.4 PER CENT IN VALUE

WAS HIGHER THAN THE OCTOBER AND 9. CORRESPONDING GROWTH RATES OF 10.3 PER CENT IN

8 PER

CENT IN THE THIRD QUARTER.

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/HOWEVER, MORE