Re-exports soar on fuel demand

SOARING demand for fuels and capital goods provided the key impetus behind April's 21 per cent year-on-year rise in re-exports.

Detailed Government statistics released yesterday show that measured in volume terms, fuel re-exports grew 56.4 per cent while capital goods were up 44.8 per cent.

However, big gains across the board - consumer goods spurted 28 per cent year-on-year - were trimmed back by a 17.3 per cent fall in the level of foodstuffs re-exported through Hongkong.

For domestic exports, the unchanged year-on-year growth was boosted by a 0.7 per cent increase in prices.

The biggest movers among home-grown products were metal ores and scrap, up 14.5 per cent, and electronic components, up 13.4 per cent.

Footwear also recorded one of the biggest jumps in price, with costs increasing 4.8 per cent - while in volume terms exports slumped 46.4 per cent.

Demand for most domestic exports fell over the period, with radios down 34 per cent and textile articles down 46.5 per cent.

Among imports, foodstuffs again ate into growth across other commodities, with big falls in demand for wheat and flour, beef and pork dragging the overall figure down 17.3 per cent on the previous year.

Foodstuffs imports to rise included edible oils and lard.

In line with rising real wages, growth in consumer goods went up 27.9 per cent.

Imports of fuels were up 83.5 per cent while those of capital goods rose 32.3 per cent.