G. F. 323
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10.
The estimated increases in exports and imports in real
terms were respectively 27% and 24% whereas export less import of
services was estimated to have increased by 60%.
5.
11.
The preliminary estimate of the gross domestic product for
1976 was HK$47,114 million at current market prices. This represented
an average annual rate of increase of 17% in money terms and 8 in real
terms between 1970 and 1976. The real growth of 16% in real torms in
1976 is unlikely to be repeated in 1977. Even if the growth in
overseas demand does not fall off, the hardening in the Hong Kong dollar
will tend to slow down growth in domestic exports in 1977.
increased domestic incomes can be expected to generate further increases
in imports and some easing off in the terms of trade. As total external
trade is almost twice the size of the gross domestic product, both
these developments will produce a growth in the gross domestic product
more in line with past trend.
Furthermore,
Tables 1, 2 and 37
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