Car exports to Hong Kong leap up

04 February 1994
REGIONAL

Hong Kong's car imports from the Middle East jumped by 230 per cent in the first 10 months of 1993, accounting for a third of all imports from the region. This resulted in a 13.6 per cent drop in Hong Kong's trade surplus compared with the corresponding period of 1992.

Total imports rose by 41 per cent to $1,160 million. Car sales from the UAE, Hong Kong's most important supplier in the region, reached $328 million for January-October last year, an increase of almost 250 per cent. This accounted for 59 per cent of total UAE exports to Hong Kong. Kuwait's car exports rose to $12.3 million, or 70 per cent of total sales to Hong Kong. The cars are mostly destined for China, which does not have access to top-of-the-range Japanese cars directly from Japan, trade observers say.

Pearls, precious and semi-precious stones still top Hong Kong's Middle East shopping list, reaching $466 million over the period, or 40 per cent of the total. Hong Kong re-exported 14.8 per cent of its Middle East imports, slightly less than last year.

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