IN CONFIDENCE
2.6
Hong Kong's imports of goods in 1981 totalled HK$138,375 million (approx. £12,580 million).
The principal imports were:
Raw Materials
Consumer Goods
Capital Goods
Food Stuffs
Fuels
The principal suppliers were:
Japan
China
EC
of which:
UK
FRG
United States
Taiwan
Singapore
40.4%
26.7%
14.6%
10.6%
7.7%
23.2%
21.3%
11.5%
(4.5%)
(2.4%)
10.4%
7.8%
7.7%
2.7 Trade in invisibles makes an important contribution to Hong Kong's balance of payments. In 1980 Hong Kong's surplus on invisibles was, according to preliminary estimates, HK$8,850 million.
2.8 The balance of trade between the UK and Hong Kong is slightly in Hong Kong's favour. The British share of the Hong Kong market declined from over 11% in 1967 to only 4.2% in 1976, rose to 5.1% in 1979, and in 1981 stood at 4.5%. Hong Kong is now, however, Britain's largest market in the Far East, ahead of Japan. British exports to Hong Kong in 1980 totalled £559 million, which also
Hong Kong well ahead of China (£213 million) as a market for British goods. The real growth of UK exports to Hong Kong in the 5 years ending 1980 was 12.6% p.a. British imports from Hong Kong in
8
IN CONFIDENCE
put