Domestic exports to main markets
2.3
The growth rate of domestic exports to the United States slowed down sharply in the first quarter. Although, at $6,018 million, the value of domestic exports to the United
States was 12% higher than in the corresponding period of
1981, trade indexes available up to February 1982 suggest that
this growth comprised an increase in prices of 10% and a growth rate in real terms of only 2%. This latter figure represents a marked slowing down when compared with the growth
rate of 27% in real terms in the fourth quarter of 1981. The
recession in the U.S. economy was probably the major cause
the decline.
2.4
At $1,553 million, the value of domestic exports to
the United Kingdom in the first quarter was 2% higher than in the first quarter of 1981. After allowing for the effects of
price increases, there was a decrease of 5% in real
real terms.
The value of domestic exports to the Federal Republic of
Germany in the first quarter at $1,487 million was 7% lower than in the same period of 1981, equivalent to a drop of 12%
in real terms. On the other hand, the value of domestic
exports to China continued to grow rapidly; at $928 million in the first quarter, it was 68% higher than in the same period
of 1981(1). The value of domestic exports to Australia, at
$671 million, was 28% higher
higher than in the first quarter of 1981. As regards Japan, the value of domestic exports to this market in the first quarter, at $631 million, was 14% higher than in the first quarter of 1981. Trade indexes available up
to February suggest that this growth was made up of an increase of 16% in prices and a decrease of 2% in real terms.
(1)
/ Growth
Plans are in hand to construct unit value and quantum indexes of domestic exports to China. Before these indexes are available, it is
not possible to estimate the growth rate of domestic exports to China in real terms.
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