TNAG-0607-FCO40-755-Monitoring-progress-made-on-planning-papers-on-Hong-Kong-1977 — Page 23

CONFIDENTIAL

UK

Hong Kong Balance of Payments on Current Account 1975

VISIBLE TRADE

Exports

Imports

£'000

156,876

271,561

Private Sector Deficit on Trade (114,685)

INVISIBLE

Private

Private Transfers

30,750

Private Services

Sea Transport

(5,600)

Civil Aviation

5,900

Travel

16,500

Other Services

22,000

Private Interest Profit and

Dividends

49,000

Private Sector Surplus on

Invisibles

119,450

Private Sector Surplus on UK

Current Account

4,765

Government

Government Services and

Transfers

(47,000)

Interest on Hong Kong Official

Sterling Reserves

(27,000)

Overall UK Current Account

Deficit

69,235

:

4.

The visible trade figures are as recorded for exports though import figures have been reduced by 13% in order to extract the freight and insurance elements and to present the data on the balance of payments basis. This is standard procedure. The table below sets out the history of UK Hong Kong visible trade on a similar basis.

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CONFIDENTIAL

/£'000