XN000022-1995-06-29 — Page 15

-

14 -

External trade figures for May

Both re-exports and imports continued to show substantial growth in May, Domestic exports also registered a significant increase. These are shown in the external trade figures for May released today by the Census and Statistics Department.

The value of total exports (comprising re-exports and domestic exports) increased by $23.0 billion or 25% to $116.7 billion in May. Within total exports, the value of re-exports, at $96.6 billion in May, was $20.7 billion or 27% higher than a year earlier. The value of domestic exports increased by $2.3 billion or 13% over a year earlier to $20.0 billion in May. Meanwhile, the value of imports increased by $29.1 billion or 28% to $133.4 billion.

As the value of total exports in May was smaller than that of total imports, a visible trade deficit of $16.8 billion, equivalent to 13% of the value of imports, was recorded. This compared with a deficit of $10.7 billion, equivalent to 10% of the value of imports, in May last year.

In the first five months of 1995, the value of total exports grew by 19% over the same period last year. Amongst this, the value of re-exports rose by 21%, while that of domestic exports increased by 11%. The value of imports showed an increase of 26%. In the same period, a visible trade deficit of $73.7 billion, equivalent to 13% of the value of imports, was recorded. This compared with a deficit of $35.1 billion, equivalent to 7.6% of the value of imports, recorded in the first five months of 1994.

Commenting on the latest trade figures, a Government spokesman pointed out that the growth in both domestic exports and re-exports picked up again in May, after a temporary slow-down in April. Retained imports also remained strong, rising by 29% in value terms in May over a year earlier. As to the visible trade balance, the spokesman noted that in May, a deficit equivalent to 13% of the value of imports was recorded, whereas in April, the corresponding figure was 17%. Thus, the deficit situation has improved from the preceding month.

The table annexed presents the external trade figures in May.

A more detailed analysis of Hong Kong's external trade for May, by commodity and country, will be released in mid-July 1995.