| Abstract | For the first three quarters of 1996, Hong Kong's external trade remained uninspiring, with a highly volatile pattern emerging. During this period, the value of total exports expanded by 4%, considerably lower than the territory's customary annual double-digit growth rate. Hopes of a swift recovery in the second half were dashed as accelerating monthly trade figures were followed by repeated sharp slow-downs. One the whole, the short-term prospects for Hong Kong's external trade remain positive,as the downturn in global demand is believed to have levelled off. In the longer term, China's evolving trade and investment policies, along with its expanded port facilities, will affect the pattern of trade between Hong Kong and China. |
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