XN000022-1989-04-10 — Page 11

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MONDAY, APRIL 10, 1989

PRICE AND VOLUME MOVEMENTS OF EXTERNAL TRADE IN JANUARY RELEASED

THE VOLUME OF DOMESTIC EXPORTS AND RE-EXPORTS GREW BY 2 PER CENT AND 36 PER CENT RESPECTIVELY IN JANUARY 1989 AS COMPARED WITH THE SAME MONTH IN 1988, ACCORDING TO STATISTICS RELEASED TODAY (MONDAY) BY THE CENSUS AND STATISTICS DEPARTMENT.

TAKING

THEM TOGETHER, THERE WAS AN OVERALL INCREASE OF 19 PER CENT IN THE VOLUME OF TOTAL EXPORTS. IMPORTS INCREASED BY 25 PER CENT IN VOLUME TERMS.

THE GROWTH IN THE VOLUME OF TRADE IS DERIVED FROM THE GROWTH IN TRADE VALUES, HAVING DISCOUNTED THE EFFECT OF PRICE CHANGES.

AS REGARDS PRICE CHANGES OVER THE SAME PERIOD OF COMPARISON, THE PRICES OF DOMESTIC EXPORTS AND RE-EXPORTS ROSE BY 2 PER CENT AND 5 PER CENT RESPECTIVELY, WHILE THOSE OF IMPORTS ROSE BY 4 PER CENT. AS A RESULT, THE TERMS OF TRADE INDEX (EXPRESSED AS A RATIO OF TOTAL EXPORT PRICE INDEX TO IMPORT PRICE INDEX) REMAINED UNCHANGED.

PRICES ARE BASED ON UNIT VALUES WHICH DO NOT TAKE INTO ACCOUNT CHANGES IN THE COMPOSITION OR QUALITY OF GOODS TRADED, EXCEPT FOR SOME SELECTED COMMODITIES FOR WHICH SPECIFICATION PRICE INDEXES ARE AVAILABLE.

IN THE

CARE SHOULD BE EXERCISED IN INTERPRETING THE CHANGES VOLUME OF TRADE IN ANY INDIVIDUAL MONTH IN ISOLATION, IN VIEW OF THE FLUCTUATIONS THAT MAY OCCUR FROM MONTH TO MONTH. IN PARTICULAR, THE TRADE FIGURES FOR THE FIRST TWO MONTHS OF THE YEAR ARE LIKELY TO BE AFFECTED BY THE TIMING OF THE LUNAR NEW YEAR HOLIDAYS.

COMPARING THE THREE MONTHS ENDING JANUARY 1989 WITH THE THREE MONTHS ENDING JANUARY 1988, THE VOLUME OF DOMESTIC EXPORTS INCREASED BY 9 PER CENT, WHILE THAT OF RE-EXPORTS INCREASED BY 43 PER CENT, SO THAT FOR TOTAL EXPORTS, A GROWTH OF 26 PER CENT WAS RECORDED IN VOLUME TERMS. THE VOLUME OF IMPORTS ROSE BY 28 PER CENT.

OVER THE SAME PERIOD OF COMPARISON, PRICES OF DOMESTIC EXPORTS AND RE-EXPORTS ROSE BY 2 PER CENT AND 4 PER CENT RESPECTIVELY. IMPORT PRICES INCREASED BY 4 PER CENT.

EXTENDING THE PERIOD OF COMPARISON TO THE 12 MONTHS ENDING JANUARY 1989 WITH THE 12 MONTHS ENDING JANUARY 1988, THE VOLUME OF DOMESTIC EXPORTS INCREASED BY 8 PER CENT WHILE THAT OF RE-EXPORTS INCREASED BY 45 PER CENT, GIVING AN INCREASE OF 26 PER CENT IN THE VOLUME OF TOTAL EXPORTS. THE VOLUME OF IMPORTS ROSE BY 26 PER CENT,

OVER THE SAME PERIOD OF COMPARISON, PRICES OF DOMESTIC EXPORTS AND RE-EXPORTS INCREASED BY 2 PER CENT AND 4 PER CENT RESPECTIVELY, WHILE THOSE OF IMPORTS ROSE BY 4 PER CENT.

/THE CHANGES