in Asia, after Japan).
recession brought a reduction
Subsequently, the world
in GDP growth, which was
only 1.1% in real terms in 1982. As in 1983 economic
Domestic exports
their 1983 level
Several factors
growth in 1984 was export led.
increased by 17% in real terms over
and the overall growth rate was 9.6%.
contributed to the 1983/84 recovery: the continuing
recovery
of Hong Kong's major trading partners,
particularly the United States; the rapid expansion of
trade with China; and the removal of doubt on the future of the territory following the agreement.
4.
Hong Kong i s almost totally lacking in natural
resources and,
relative to its population, i s
short of usable land.
therefore completely
very
The manufacturing sector is
dependent on imported raw
materials and the bulk of Hong Kong's requirements of foodstuffs and consumer goods is also imported.
5.
The value of Hong Kong's exports of goods in 1984,
including re-exports was HK$221,440 million (approx.
£22,144 million). The principal domestic exports were:
Textiles & Clothing
40.3%
Misc manufactured articles,
Plastic toys & dolls
8.4%
Watches/Clocks/Photo Equipment
6.4%
Radios & Telecommunications
6.3%
equipment
Domestic machinery & appliances
3.8%
The principal markets were:
1. United States
2.
China
3.
UK
4. FRG
5. Japan
6.
Canada
44.5%
8.2%
7.6%
6.9%
3.7%
3.3%