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For the first time, funding is specifically related to the recent performance of an institution in research although a greater part of its recurrent grants is still associated with its teaching function.
"The Government supports the adoption of the new funding methodology as it is more related to an institution's performance and output," the spokesman said.
"We will closely monitor the operation of the methodology and encourage the UGC to develop it during the 1995-98 triennium," he said.
End/Wednesday, February 8, 1995
Volume and price movements of external trade in November 1994
The volume of re-exports in the first 11 months of 1994 increased by 14% over the same period the year before, while the volume of domestic exports decreased by 2.0%, according to statistics released today (Wednesday) by the Census and Statistics Department.
Taking re-exports and domestic exports together, the volume of total exports increased by 11%. Meanwhile, imports increased by 14% in volume.
The growth in the volume of trade is derived from the growth in trade values with the effect of price changes being discounted.
As regards price changes over the same period of comparison, the prices of re- exports and domestic exports increased by 1.3% and 1.5% respectively. Import prices increased by 2.5%. Price changes are reflected by changes in unit value indices, which are compiled based on average unit values or, for certain commodities, based on specific price data.
The terms of trade index, defined as the ratio of total export price index to import price index, decreased by 1.2% in the first 11 months of 1994 over the same period the year before.
Comparing November 1994 with November 1993, the volume of re-exports continued to increase markedly, by 17%, while that of domestic exports also recorded a moderate increase of 4.3%. Taken together, the volume of total exports increased by 14%. Meanwhile, the volume of imports grew by 21%.
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