XN000022-1996-08-21 — Page 7

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Re-export trade statistics in first half of 1996

Re-exports accounted for 85% of the value of total exports and 40% of the total value of external trade of Hong Kong in the first half of 1996. In the same period of 1995, the corresponding shares were 83% and 39% respectively.

These figures, affirming the importance of re-export trade, are amongst the detailed re-export statistics released by the Census and Statistics Department today (Wednesday).

China remained the largest partner for Hong Kong's re-export trade. Of the total $550.8 billion of re-exports going through Hong Kong in the first half of 1996, 89% or $489.9 billion involved China in either direction.

As a source, re-exports originating in China accounted for 56% of Hong Kong's re-export value in the first half of 1996. As a destination, China's share was 36%.

It is noted that much of the re-export trade involving China is related to outward processing, as raw materials and semi-manufactured goods are exported to China for processing, with the final products subsequently returned to Hong Kong, and re-exported to overseas markets.

Other main origins of Hong Kong's re-exports in the first half of 1996 included Japan (accounting for 11%), Taiwan (7.3%), the United States (5.5%) and South Korea (3.3%).

The main destinations in the first half of 1996, besides China, included the United States (accounting for 19%), Japan (6.8%), Germany (4.1%) and the United Kingdom (2.8%).

Table 1 shows the changes in the value of re-exports from the ten main origins in the first half of 1996 compared with the same period in 1995.

Comparing the first half of 1996 with the same period in 1995, increases of various magnitudes were recorded in the value of re-exports from most main origins: the United Kingdom (+24%), Malaysia (+19%), Singapore (+18%), Germany (+17%), the United States (+17%), Italy (+13%), China (+7.6%). A slight increase of 1.0% in the value of re-exports from South Korea was also recorded. However, slight decreases of 1.9% and 1.7% were recorded in the value of re-exports from Taiwan and Japan respectively.