XN000022-1995-08-29 — Page 4

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External trade figures for July

Both re-exports and imports continued to show substantial growth in July 1995. Domestic exports also registered a notable increase. These are shown in the external trade figures for July released today (Tuesday) by the Census and Statistics Department.

The value of total exports (comprising re-exports and domestic exports) increased by $17.8 billion or 17% over a year earlier to $122.3 billion in July 1995. Within total exports, the value of re-exports, at $100.1 billion in July, was $16.1 billion or 19% higher. The value of domestic exports, at $22.1 billion in July, increased by $1.7 billion or 8.4%. Meanwhile, the value of imports increased by $24.5 billion or 22% to $133.8 billion.

The visible trade deficit continued to narrow for the third consecutive month. In July 1995, the visible trade deficit narrowed further to $11.6 billion, equivalent to 8.6% of the value of imports. This compared with the corresponding figures of $16.8 billion or 13% in May, and of $14.4 billion or 11% in June.

In the first seven months of 1995, the value of total exports grew by 18% over the same period last year. Among this, the value of re-exports rose by 20%, while that of domestic exports increased by 9.3%. The value of imports showed an increase of 24%. Over the same period, a visible trade deficit of $99.7 billion, equivalent to 12% of the value of imports, was recorded. This compared with a deficit of $51.2 billion, equivalent to 7.5% of the value of imports, recorded in the first seven months of 1994.

Commenting on the latest trade figures, a government spokesman said the continued strong growth in both re-exports and domestic exports was encouraging. Meanwhile, retained imports also continued to grow significantly, by 28% in July over This was underpinned mainly by import requirements for a year earlier. manufacturing production and infrastructural construction, as well as for production capacity enhancement. The spokesman added that the narrowing of the visible trade deficit in recent months was also a positive development.

The table annexed presents the external trade figures in July 1995.

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