ECONOMIC PERFORMANCE IN 1995

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1. Estimated growth rates of the GDP and its expenditure components and rates of increase in the main price indicators in 1995 :

(i) Growth rates in real terms of :
	(%)	(%)
Private consumption expenditure		1.3
Government consumption expenditure		4.3
Gross domestic fixed capital formation		6.4
transfer costs of land and buildings	-29.3
building and construction	0.2
real estate developers' margin	-10.1
machinery and equipment	19.8
Total exports of goods		11.9
domestic exports	1.9
re-exports	14.3
Imports of goods		13.7
Exports of services		10.9
Imports of services		5.7
Gross domestic product (GDP)		4.6
Per capita GDP		2.4
Per capita GDP at current prices	HK$179,600
	(US$23,200)
(ii) Rates of increase in:
Consumer Price Index (A)		8.7
GDP deflator		4.6

2. Performance of domestic exports and re-exports

(i) Annual growth rates in real terms of :
	(Domestic exports)	Re-exports
	(%)	(%)
1993	-4	20
1994	-2	14
1995	2	14
(ii) Shares of domestic exports and re-exports in the value of total exports:
	Domestic exports	Re-exports
	(%)	(%)
1990	35	65
1991	30	70
1992	25	75
1993	21	79
1994	19	81
1995	17	83

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

Retained imports
	Total	Foodstuffs and consumer goods	Raw materials and semi-manufactures	Capital goods
	(%)	(%)	(%)	(%)
1993	2	7	1	-2
1994	14	15	11	11
1995	13	3	15	23

4. Hong Kong's visible and invisible trade balance in 1995:

	Billion
Domestic exports	232
Re-exports	1,112
Total exports	1,344
Imports*	1,496
Visible trade balance		-152
Invisible trade balance#		126
Balance on visible and invisible trade combined#		-25

* Including an estimate of imports of gold for industrial use.
# Preliminary estimate. Figures do not add up because of rounding.

5. Unemployement and underemployment rates:

	Unemployment rate	Underemployment rate
	(%)	(%)
1993	2.1	1.6
1994	2.1	1.4
1995	3.2	2.1

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

	CPI(A)	CPI(B)	Hang Seng CPI	Composite CPI
	(%)	(%)	(%)	(%)
1992	9.4	9.6	9.8	9.6
1993	8.5	8.7	9.5	8.8
1994	8.1	8.6	10.0	8.8
1995	8.7	9.2	9.6	9.1

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[1996-97 Budget Speech]

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