Domestic exports to main markets
2.2
The United States remained the largest market for
domestic exports, accounting for about 43% of the total value
of domestic exports. At $27,836 million in the first half of
1986, the value of domestic exports to this market was 7응
higher than in the same period in 1985. After discounting the
effect of price increases, domestic exports grew by about 5%
in real
real terms, made up of year-on-year growth rates of 1% in
the first quarter and of an estimated 8 응 in the second
quarter. A major reason for the recovery of domestic exports
to this market was the depreciation of the Hong Kong dollar
against a number of other currencies
which resulted in
(2)
Hong Kong goods being relatively more competitive in the US
market than goods from a number of other economies. Continued
economic growth and stock replenishment in the United States
(2)
/also
Percentage changes of the Hong Kong dollar and of the currencies of selected major competitors of Hong Kong against the currencies of selected major markets of Hong Kong during the twelve months ending June 1986:
US$
Pound sterling
DM
Yen
HK dollar
-0.6
-15.0
-28.0
(0)
(-6.1)
(-10.7)
-34.4 (-18.4)
Singapore dollar
1.2
-13.3
-26.6
-33.1
(−3.9)
(-9.8)
(-14.2)
(-21.6)
Korean Won
-1.5
-15.7
-28.6
-35.0
(0.4)
(-5.8)
(-10.3)
(-18.1)
New Taiwan dollar
8.8
-7.0
-21.2
(8.3)
(1.7)
(-3.3)
-28.2 (-11.6)
Notes: Figures indicate appreciation (+)/depreciation(-)
currencies listed vertically against the currencies horizontally.
of
the
listed
() % changes during the six months ending June 1986.
6
No comments yet.
Private notes are available after approval.