ECONOMIC PERFORMANCE IN 1997
 

  1. Estimated growth rates of the GDP and its expenditure components and rates of increase in the main price indicators in 1996 :

    (i) Growth rates in real terms of :
     

       
       
      (%)
       
      (%)
       
      Private consumption expenditure
       
       
       
      7.3
       
      Government consumption expenditure
       
       
       
      2.8
       
      Gross domestic fixed capital formation
       
       
       
      12.8
       
      transfer costs of land and buildings
      32.8  
      building and construction
      2.3  
      real estate developers' margin
      20.7  
      machinery and equipment
       
      15.6
       
       
       
      Total exports of goods   6.1
      domestic exports
      2.0  
      re-exports
       
      6.8
       
       
       
      Imports of goods   7.1
      Exports of servicess   -0.1
      Imports of services
       
       
       
      5.0
       
      Gross domestic product (GDP)
       
       
       
      5.2
       
      Per capita GDP
        2.1
      Per capita GDP at current prices
      HK$204,100  
        (US$26,400)  
    (ii) Rates of increase in :
     
      Composited Consumer Price Index   5.8
      Consumer Price Index (A)   5.7
      GDP deflator   5.9

  2. Performance of domestic exports and re-exports

    (i) Annual growth rates in real terms of :
     

        Domestic exports Re-exports
        (%) (%)
      1995 2 14
      1996 -8 14
      1997 2 8

    (ii) Shares of domestic exports and re-exports in the value of total exports:
     

        Domestic exports Re-exports
        (%) (%)
      1992 25 75
      1993 21 79
      1994 19 81
      1995 17 83
      1996 15 85
      1997 15 85

  3. Annual growth rates in real terms of retained imports :

      Retained imports
       
       
       Total
      Foodstuffs and
      consumer goods
      Raw materials and
      semi-manufactures

       Capital goods
        (%) (%) (%) (%)
      1995 13 3 15 23
      1996 -2 -8 * 1
      1997 8 7 7 21

        *   Less than 0.5%.

  4. Hong Kong's visible and invisible trade balance in 1996 :
       
       
      $Billion
       
      Domestic exports 211  
      Re-exports 1,245  
      Total exports 1,456  
      Imports* 1,619  
      Visible trade balance   -164
      Invisible trade balance #   113
      Balance on visible and invisible trade combined #   -51

      *   Including an estimate of imports of gold for industrial use.
      #   Preliminary estimate.

  5. Unemployment and underemployment rates :

       
       
      Unemployment rate
       
      Underemployment rate
       
        (%) (%)
      1995 3.2 2.1
      1996 2.8 1.7
      1997 2.2 1.2

  6. Annual rates of increase in the Consumer Price Indices :

      Composite CPI CPI(A) CPI(B) Hang Seng CPI
      (%) (%) (%) (%)
    1995 9.1 8.7 9.2 9.6
    1996 6.3 6.0 6.4 6.6
    1997 5.8 5.7 5.8 6.1
     
    Figures for 1996 and 1997are 1994/95-based and figures for 1995 are 1989/90-based.


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