XN000022-1992-08-27 — Page 10

THURSDAY, AUGUST 27, 1992

PROVISIONAL TRADE FIGURES FOR JULY 1992

PROVISIONAL TRADE FIGURES RELEASED TODAY (THURSDAY) BY THE CENSUS AND STATISTICS DEPARTMENT SHOWED THAT IN JULY THIS YEAR, RE- EXPORTS CONTINUED TO GROW STRONGLY, WHILE DOMESTIC EXPORTS SHOWED A SMALL INCREASE. IMPORTS ALSO RECORDED A MARKED GROWTH.

THE VALUE OF RE-EXPORTS ROSE BY $12,275 MILLION OR 25.3% OVER A YEAR BARLIER TO $60,782 MILLION IN JULY 1992. THE VALUE OF DOMESTIC EXPORTS ALSO INCREASED, BY $202 MILLION OR 1.0% TO $21,380 MILLION.

TAKING RE-EXPORTS AND DOMESTIC EXPORTS TOGETHER, THE VALUE OF TOTAL EXPORTS IN JULY GREW BY $12,477 MILLION OR 17.9% OVER A YEAR EARLIER TO $82,162 MILLION.

MEANWHILE, THE VALUE OF IMPORTS IN JULY INCREASED BY $15,884 MILLION OR 23.0% OVER A YEAR EARLIER TO $84,966 MILLION.

AS THE VALUE OF TOTAL EXPORTS WAS SMALLER THAN THAT OF TOTAL IMPORTS, A VISIBLE TRADE DEFICIT OF $2,804 MILLION, EQUIVALENT TO 3.3% OF THE VALUE OF IMPORTS, WAS RECORDED IN JULY 1992. THIS COMPARED WITH A SURPLUS OF $603 MILLION, EQUIVALENT TO 0.9% OF THE VALUE OF IMPORTS, RECORDED IN JULY 1991.

IN THE FIRST SEVEN MONTHS OF 1992, THE VALUE OF RE-EXPORTS INCREASED BY $88,394 MILLION OR 31.4% OVER A YEAR EARLIER TO $370,014 MILLION. THE VALUE OF DOMESTIC EXPORTS AMOUNTED TO $128,321 MILLION, $2,218 MILLION OR 1.8% HIGHER THAN IN THE FIRST SEVEN MONTHS OF 1991.

OF 1992,

TAKING RE-EXPORTS AND DOMESTIC EXPORTS TOGETHER, THE VALUE TOTAL EXPORTS, AT $498,335 MILLION IN THE FIRST SEVEN MONTHS OF WAS $90,612 MILLION OR 22.2% HIGHER THAN A YEAR EARLIER.

THE

$527,612

VALUE OF IMPORTS INCREASED BY $99,309 MILLION OR 23.2% MILLION.

TO

A VISIBLE TRADE DEFICIT OF $29,277 MILLION, EQUIVALENT TO 5.5% OF THE VALUE OF IMPORTS, WAS RECORDED IN THE FIRST SEVEN MONTHS OF 1992. THIS COMPARED WITH THE DEFICIT OF $20,580 MILLION, EQUIVALENT TO .4.8% OF THE VALUE OF IMPORTS, RECORDED IN THE SAME PERIOD LAST YEAR.

COMMENTING ON THE JULY TRADE FIGURES, A GOVERNMENT SPOKESMAN SAID DOMESTIC EXPORTS HAD REBOUNDED FROM THE EARLIER DECLINE FOR TWO CONSECUTIVE MONTHS, ALTHOUGH THE LATEST INCREASE WAS ONLY SMALL.

THE ROBUST RE-EXPORT PERFORMANCE WAS UNDERPINNED BY THE CONTINUED STRONG GROWTH IN RE-EXPORTS INVOLVING CHINA IN BOTH DIRECTIONS.

INDICATIVE OF A SUSTAINED INCREASE IN DOMESTIC DEMAND AND PROBABLY ALSO A BETTER OUTLOOK FOR DOMESTIC EXPORTS, IMPORTS RETAINED FOR LOCAL USE CONTINUED TO SHOW A SUBSTANTIAL RISE. IN THE FIRST SEVEN MONTHS OF 1992, RETAINED IMPORTS GREW BY 13.1% IN VALUE OVER A YEAR EARLIER.

TERMS

/THE FOLLOWING

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