XN000022-1994-08-26 — Page 13

11

FRIDAY, AUGUST 26, 1994

REGARDING THE GROWTH RATES OF INDIVIDUAL EXPENDITURE COMPONENTS IN REAL TERMS, THE EXTENT OF REVISION IS SOMEWHAT GREATER.

FOR EXPORTS

OTHER

NEVERTHELESS, IT IS WITHIN TWO PERCENTAGE POINTS AND IMPORTS OF SERVICES, AND LESS THAN ONE PERCENTAGE POINT FOR COMPONENTS.

FOR THE LAST FEW YEARS, THE LEVEL OF THE PRICES IS REVISED UPWARDS BY ABOUT 4 PER CENT. OF 1993 IS REVISED TO HK$888 BILLION FROM THE HK$851 BILLION.

A SPOKESMAN FOR THE DEPARTMENT SAID THE HAD TAKEN INTO ACCOUNT STRUCTURAL CHANGE IN THE

MARKET

GDP AT CURRENT FOR INSTANCE, THE GDP PREVIOUSLY PUBLISHED

NON-ROUTINE ECONOMY.

REVISION

DEPARTMENT'S

SERVICES,

AS

BCONOMIC BY MORE TRANSPORT SERVICES,

IN

"SPECIAL EFFORTS HAVE BEEN MADE IN THE SURVEYS TO ENHANCE THE COVERAGE OF TRADE ADEQUATELY INCORPORATING OFFSHORE TRADING ACTIVITIES, LAND SERVICES AND OTHER BUSINESS SERVICES SUCH CONSTRUCTION SERVICES AND MANAGEMENT CONSULTANCY WHICH HAVE GROWN IN IMPORTANCE IN RECENT YEARS," HE SAID.

Н

LEGAL SERVICES, ALL OF

"THE OPPORTUNITY IS ALSO TAKEN TO REBASE THE 1990. THE PREVIOUS GDP SERIES HAS 1980 AS THE BASE DOING, A MORE UP-TO-DATE PRICE STRUCTURE IS TAKEN IN ESTIMATES."

THAT

TO

GDP SERIES

YEAR. IN SO COMPILING GDP

THE GDP ESTIMATES "IT IS

PRACTICE TO REBASE INTERNATIONAL

OR

VALUES, TO

RELATIVE THE WEIGHTS, ENSURE PERIODICALLY

MORE RECENT PERIOD OF CHANGES OVER A UNDERLYING THE MEASUREMENT REFLECT CLOSELY THE PRICE STRUCTURE OF THAT PERIOD," HE ADDED.

TRADE

"MOREOVER, WE HAVE IMPROVED THE METHOD FOR DEFLATING THE AGGREGATES. SOME NEW STANDARDS PROMULGATED IN THE LATEST VERSION OF THE SYSTEM OF NATIONAL ACCOUNTS RELEASED BY THE UNITED ALSO BEEN ADOPTED," HE SAID.

NATIONS HAVE

MAJOR AREAS OF ECONOMIC ACTIVITIES THE REVISED

IN THE PRODUCTION-BASED GDP, THERE ARE TWO REVISION. FIRST, THE GDP CONTRIBUTIONS OF SOME NOT ADEQUATELY COVERED PREVIOUSLY HAVE BEEN INCLUDED IN

SERIES.

SECOND, THE CONTRIBUTIONS OF SOME COMMERCIAL ESTABLISHMENTS NOT COVERED IN THE ROUTINE ECONOMIC SURVEYS HAVE BEEN DIRECTLY CAPTURED OR

RESULT THESE

IN AN UPWARD METHODS. ELSE

BY SPECIAL ESTIMATED

LEVEL OF THE 4 PER CENT IN THE ADJUSTMENT OF AROUND 3 PER CENT PRODUCTION-BASED GDP AT CURRENT MARKET PRICES.

DETAILED RESULTS OF THIS NON-ROUTINE REVISION ARE PRESENTED REPORT ENTITLED "REVISED ESTIMATES OF GROSS DOMESTIC PRODUCT, TO FIRST QUARTER 1994".

A

IN

1961

THE REPORT IS NOW ON SALE AT THE GOVERNMENT PUBLICATIONS CENTRE AND THE CENSUS AND STATISTICS DEPARTMENT AT $38 A COPY.

/Comparison of