BUSAAF (2)
The labour market remains tight; 1.4% unemployment in 1983.
Retained imports of industrial machinery for manufacturing use, which is an important indicator of investment in the manufacturing sector, increased in real terms by 19% in 1986, 20% in 1987 and 16%
in 1988. The average inflation in the last ten years was about
8.9%. The forecast for 1989 is 8.5%.
4. Hong Kong is almost totally lacking in natural resources and, relative to its population, is very short of usable land. The manufacturing sector is therefore completely 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 1988, including re-exports was HK$493,069 Million (approx £3,700 million), an increase of 30.4%. The principal domestic exports were:
Textiles & Clothing
Watches/Clocks
Electronic components
Metal manufactures
The principal markets were:
38.0%
7.7%
4.3%
2.9%
6.
United States
China
FRE
UK
Japan
339/
17%
7%
7%
5%
Hong Kong's imports of goods in 1988 totalled HK$493.8 billion, compared with HK$ 378 billion in 1987. The principal imports were:
Raw materials
Consumer goods
Capital equipment
Foodstuffs
43.0%
33.0%
15.5%
6.4%
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