6.
Domestic exports to the United States, Germany and Singapore declined further, while domestic exports to China decelerated to little growth in the third quarter.
On the other hand, domestic exports to Japan maintained a steady increase.
Domestic exports to the United Kingdom accelerated in growth.
Imports grew by about 13% in real terms in the third quarter over a year earlier, decelerating from the 22% increase in the first quarter, but broadly similar to the 14% increase in the second quarter.
Retained imports sustained a rise of about 11% in real terms in both the second and third quarters, following a sharp rise of 27% in the first quarter.
The visible trade deficit continued to narrow in recent months.
For the entire third quarter, the visible trade deficit totalled $25.9 billion, equivalent to 6.5% of the value of imports.
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This was substantially smaller than the corresponding figures of $52.5 billion and 13.6% in the second quarter, though still larger than the figures of $12.1 billion and 3.6% recorded in the same quarter last year.
The improvement in recent months was helped by the rebound in the Hong Kong dollar along with the US dollar, slower increase in world commodity prices, and a further moderation in demand for the various imported consumer items.
The sustained surplus in invisible trade in the third quarter should be able to offset substantially the deficit in visible trade.
Domestic demand
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Domestic demand continued to be supported by a strong uptrend in machinery and equipment investment, as can be seen from a further surge in retained imports of capital goods, by about 27% in real terms in the third quarter over a year earlier.
Consumer spending however remained sluggish, with the volume of retail sales falling further by 2% over the same period.
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