XN000022-1992-05-26 — Page 10

ON

TUESDAY, MAY 26, 1992

THIS COMPARED WITH THE DEFICIT OF $15,936 MILLION,

EQUIVALENT TO 7.0% OF THE VALUE OF IMPORTS, RECORDED IN THE SAME PERIOD IN 1991.

A GOVERNMENT SPOKESMAN COMMENTED THAT THE SUSTAINED RAPID INCREASE IN RE-EXPORTS, AGAINST THE VIRTUALLY STATIC DOMESTIC EXPORT PERFORMANCE. REFLECTED THE CONTINUING RELOCATION OF INDUSTRIAL PROCESSES ACROSS THE BORDER.

THIS WAS RESULTED IN AN INCREASING PROPORTION OF GOODS BEING SHIPPED OUT OF HONG KONG AS RE-EXPORTS RATHER THAN AS DOMESTIC EXPORTS.

THE SHARE OF RE-EXPORTS IN THE VALUE OF TOTAL EXPORTS ROSE то 74% IN THE FIRST FOUR MONTHS OF 1992, COMPARED WITH 69% IN THE FIRST FOUR MONTHS OF 1991.

OVER THE SAME PERIOD, IMPORTS RETAINED FOR LOCAL USE INCREASED FURTHER, BY 7.3% IN VALUE TERMS.

/PRESS RELEASE

Page 10Page 11