XN000022-1992-07-27 — Page 8

MONDAY, JULY 27, 1992

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PS COMMENTS ON CPI AND TRADE FIGURES

THE

COMMENTING ON THE CONSUMER PRICE INDEX FIGURES AND PROVISIONAL TRADE FIGURES FOR JUNE - BOTH ANNOUNCED THIS (MONDAY) AFTERNOON FINANCIAL SECRETARY, MR HAMISH MACLEOD, SAID:

―

AT AROUND 9 PER

"THE RATE OF INFLATION HAS BEEN STABILISING CENT IN THE PAST FOUR MONTHS. THIS REPRESENTS A SIGNIFICANT DROP FROM THE PEAK OF 13.9 PER CENT IN APRIL LAST YEAR, AND WE STILL SEEM TO BE ON TARGET FOR SINGLE-FIGURE INFLATION THIS YEAR. THAT SAID, CLEARLY AT PRESENT LEVELS INFLATION IS STILL A MATTER FOR CONCERN.

PICTURE

-

THE

"WE NEED ALSO TO LOOK AT THE OTHER SIDE OF THE CONTINUING GOOD GROWTH PROSPECTS FOR OUR ECONOMY. THE SIGNIFICANT INCREASE IN OUR TOTAL EXPORTS, AND PARTICULARLY RE-EXPORTS, DESPITE THE SLOW GROWTH OF THE WORLD'S MAJOR ECONOMIES, IS A CLRAR DEMONSTRATION OF THE STRENGTH OF OUR ECONOMY.'

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PROVISIONAL TRADE FIGURES FOR JUNE

RE-EXPORTS

IN JUNE CONTINUED TO SURGE WHILE DOMESTIC EXPORTS ALSO REGISTERED A MARKED INCREASE. IMPORTS CONTINUED ro

RISK

SIGNEFICANTLY.

THESE ARK SHOWN IN THE PROVISIONAL TRADE FIGURES RELEASED TODAY (MONDAY) BY THE CENSUS AND STATISTICS DEPARTMENT.

YEAR

THE VALUE OF RE-EXPORTS ROSE BY $16,799 MILLION OR 39.7% OVER A EARLIER TO $59,114 MILLION LAST MONTH.

THE VALUE OF DOMESTIC RXPORTS ALSO INCREASED, BY $2,299 MILLION OR 12.2% TO $21,111 MILLION.

TAKING RE-EXPORTS AND DOMESTIC EXPORTS TOGETHER, THE VALUR OF TOTAL EXPORTS IN JUNE GREW BY $19,098 MILLION OR 31.2% OVER A YEAR EARLIER TO $80,225 MILLION,

MEANWHILE, THE VALUE OF IMPORTS IN THE MONTH INCREASED BY $21,029 MILLION OR 33.1% OVER A YEAR EARLIER TO $84,621 MILLION.

AS THE VALUE OF TOTAL EXPORTS WAS SMALLER THAN THAT OF TOTAL IMPORTS, A VISIBLE TRADE DEFICIT OF $4,396 MILLION, EQUIVALENT TO 5.2%% OF THE VALUE OF IMPORTS, WAS RECORDED IN JUNE 1992.

/THIS COMPARED