FRIDAY, JANUARY 28, 1994
GROWTH
DOMESTIC EXPORTS REMAINED SLUGGISH. THE MORE MODERATE IN EXPORTS WAS MAINLY DUE TO WEAKER DEMAND IN THE MAJOR OVERSEAS MARKETS, AS ECONOMIC CONDITIONS THERE WERE SLACK DURING THE YEAR.
THE IMPACT OF CHINA'S RESTRAINT MEASURES WAS ALSO FELT IN MORE RECENT MONTHS.
THE
AS
PICKED
NEVERTHELESS, . RE-EXPORTS TO A NUMBER OF MAJOR MARKETS SUCH THE UNITED STATES, JAPAN AND THE UNITED KINGDOM SEEMED TO HAVE UP TO A FASTER GROWTH IN NOVEMBER AND DECEMBER.
ON
ON THE OTHER HAND, RE-EXPORTS TO TAIWAN CONTINUED TO FALL. DOMESTIC EXPORTS, THERE WERE SIGNS THAT THE DECLINING TREND IN RESPECT OF THE UNITED STATES MARKET MIGHT HAVE BOTTOMED OUT.
THE GROWTH RATE OF RETAINED IMPORTS DECELERATED SHARPLY FROM 16% IN 1992 TO ONLY 3.1% IN 1993. SOME CONSOLIDATION WAS APPARENT FOLLOWING THE LARGE INCREASE IN THE PRECEDING YEAR.
A MORE DETAILED ANALYSIS OF HONG KONG'S EXTERNAL TRADE FOR DECEMBER AND THE WHOLE YEAR OF 1993, BY COMMODITY AND COUNTRY, WILL BE RELEASED IN MID-FEBRUARY.
THE FOLLOWING TABLE EXTERNAL TRADE FOR DECEMBER:
PRESENTS THE
PROVISIONAL
FIGURES
OF
MERCHANDISE: DOMESTIC EXPORTS
$20,582 MILLION
RE-EXPORTS
$73,774 MILLION
TOTAL EXPORTS IMPORTS
$94.356 MILLION
$96,058 MILLION
TRADE BALANCE
-$1,702 MILLION
COMPARATIVE FIGURES
LATEST 3 MONTHS
OCT 93 TO
OCT 92 TO
CHANGE
DEC 93 HKS MN
DEC 92 HK$ MN
HK$ MN
%%%
DOMESTIC EXPORTS
(% OF TOTAL EXPORTS)
59,392
63,839
-4.447
-7.0
(21.0%)
(24.6%)
RE-EXPORTS
TOTAL EXPORTS
IMPORTS
TRADE BALANCE
222,830
195,512
+27,318
+14.0
282.222
259,351
+22,871
+8.8
282,092
265,360
+16,732
+6.3
130
-6,009
+6,139
SAME MONTH LAST YEAR
DECEMBER 1993 HK$ MN
DECEMBER
CHANGE
1992 HK$ MN
HK$ MN
DOMESTIC EXPORTS
20,582
21,658
-1,076
-5.0
(% OF TOTAL EXPORTS)
(21.8%)
(25.2%)
RE-EXPORTS
73.774
64.284
+9,490
+14.8
TOTAL EXPORTS
94.356
85,942
+8,414
IMPORTS
96,058
90,232
+5,826
+9. +6.
8
5
TRADE BALANCE
-1,702
-4,290
+2.588
/LAST MONTH
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