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Overseas Trade Services
UK/HONG KONG TRADE AND INVESTMENT: BACKGROUND
In 1992 UK exports to Hong Kong were £1,612m, an increase of 16% over 1991 compared with an increase of only 3.3% for UK exports to the world. Hong Kong is the UK's 13th (1992) largest export market (it was 28th in 1976) and the second largest in the Far East after Japan.
UK exports to Hong Kong, China and Taiwan (Em)
Jan-Feb
Jan-Feb
1988 1989
1990
1991
1992
1992
1993
HK China Taiwan
1,031
1,111
1,238
412
418
356
407
466 431
1,387 322
1,612
268
276
429
58
113
520
545
76
91
Approximately 15% of UK exports to Hong Kong were re-exported on to China in 1992.
2. Although our market share has fallen in recent years, using OECD figures the UK is still the leading European supplier to the Hong Kong market. Share of OECD exports to Hong Kong is as follows:
%
Jan-Sept, Jan-Sept
1987
1988 1989
1990
1991
1991 -
1992
UK
7.9
6.4
6.2
6.8
6.5
6.4
6.1
Germany
5.7
5.7
6.1
6.1
5.6
5.6
5.9
Italy
3.7
3.8
4.7
4.9
4.3
4.1
4.5
France
3.7
3.6
3.7
3.6
3.3
3.1
3.4
Japan
42.5
41.2
31.1
40.6
43.1
42.5
44.5
US
18.9 20.0 21.5
21.3
21.5
22.0
19.1
UK share of total imports has however fallen to 2% (compared with 3.7% in 1985). This is in large part due to the growth of Hong Kong's trade with, and outward processing operations in China and the growing importance of regional trade. The UK share of Hong Kong Government procurement was 14.1% in 1991. The US was leading supplier with 17.8%. A large percentage of Hong Kong Government's purchases from the UK are pharmaceutical products.
3.
The UK's principal exports are capital goods. In 1992 our most important export commodities were:- tobacco and tobacco manufactures; electrical machinery; miscellaneous manufactured articles; telecommunications and sound equipment; power generating machinery.
LT43.39
dti
Katyčios Papa
the department for Enterprise
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