4
trade in favour of re-exports, which have increased
tremendously following China's adoption of open-door
policies since 1978. Therefore, whereas in 1975
re-exports accounted for 11% of the total visible trade,
by 1985 this has increased to 23%.
Associated with the growing re-export trade has
been an expansion of the services sectors in Hong Kong,
including transportation, storage, and various types of
financial and business services. The financial and
related business services sectors have expanded
considerably during the past decade, in part reflecting
the development of Hong Kong as a major financial centre.
Consumer prices increased by an average of just
2.8% in 1986 over 1985. However, as a result of the
depreciation of the Hong Kong dollar, import prices of
consumer goods have increased, and the inflation rate in
1987 is likely to be higher at around 6%.
The
The unemployment situation for the labour force
as a whole remained stable at a low level in 1986.
seasonally-adjusted unemployment rate was 2.2% in the
fourth quarter of 1986, which is very low by international
standards and indicates effective full employment in Hong
Kong.
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