XN000022-1994-05-27 — Page 22

20

FRIDAY, MAY 27, 1994

THIS

COMPARED WITH A DEFICIT OF $8.2 BILLION, 8.8% OF THE VALUE OF IMPORTS, IN APRIL 1993.

EQUIVALENT то

IN THE FIRST FOUR MONTHS OF 1994, THE VALUE OF TOTAL EXPORTS GREW BY 8.1% OVER THE SAME PERIOD OF LAST YEAR. AMONGST THIS, THE VALUE OF RE-EXPORTS ROSE BY 13%, WHILE THAT OF DOMESTIC EXPORTS FELL BY 7.8%.

SUPPORTED LARGELY BY THE CONTINUED EXPANSION IN HONG KONG'S RE- EXPORT TRADE, THE VALUE OF IMPORTS SHOWED AN INCREASE OF 9.5%.

IN THE FIRST FOUR MONTHS OF 1994, A VISIBLE TRADE DEFICIT OF $24.4 BILLION, EQUIVALENT ΤΟ 6.8% OF THE VALUE OF IMPORTS, WAS RECORDED.

THIS

COMPARED WITH A DEFICIT OF $18.4 BILLION, EQUIVALENT TO 5.6% OF THE VALUE OF IMPORTS, RECORDED IN THE FIRST FOUR MONTHS OF 1993.

COMMENTING ON THE TRADE FIGURES, A GOVERNMENT SPOKESMAN SAID THAT THE PERFORMANCE OF RE-EXPORTS WAS STILL QUITE ROBUST, ALTHOUGH THE GROWTH RATE HAD MODERATED SOMEWHAT FROM LAST YEAR.

THE MODERATION WAS MAINLY ATTRIBUTABLE TO SLOWER GROWTH IN EXPORTS TO CHINA, THE UNITED STATES AND GERMANY.

RE-

MEANWHILE, AFFECTED IN PART BY THE SHIFT TO RE-EXPORTS, PERFORMANCE OF DOMESTIC EXPORTS REMAINED SLUGGISH. THE SHARE OF EXPORTS IN THE VALUE OF TOTAL EXPORTS ROSE TO 82% IN THE FIRST FOUR MONTHS OF 1994 FROM 78% IN THE SAME PERIOD LAST YEAR.

THE

RE-

OF 6.1%

RETAINED IMPORTS IN APRIL 1994 RECORDED AN INCREASE OVER APRIL 1993. FOR THE FIRST FOUR MONTHS AS A WHOLE, RETAINED IMPORTS WAS 4.9% HIGHER THAN A YEAR EARLIER.

EXTERNAL TRADE FOR

A MORE DETAILED ANALYSIS OF HONG KONG'S

APRIL 1994.

1994, BY COMMODITY AND COUNTRY, WILL BE RELEASED IN MID-JUNE

/PROVISIONAL FIGURES