INDUSTRY AND TRADE
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both countries consisted mainly of textile yarn, fabrics and made- up materials, in the case of Indonesia to the extent of 89%; there were also exports of clothing, paints and enamels, and enamelled iron and steel household utensils to Thailand. Exports were valued at $79.67 million to Thailand, and $46.97 million to Indonesia. Re-exports also consisted mainly of textile yarn, fabrics, and made-up articles-80% in the case of Indonesia and 79% in the case of Thailand. The value of re-exports to Thailand was $67.15 million and to Indonesia $28.19 million.
Other countries which contributed during 1959 to the increase in the value of Hong Kong's trade were, on both the import and export side, Burma and Canada; on the export side, Western Germany, Macau, Sweden and Ceylon; on the import side, Australia, the Netherlands and Belgium.
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The trend of the Colony's trade by value and volume for the years 1949-59 is illustrated by the graphs facing pages 64 and 65. Tables"showing the principal countries trading with the Colony and the composition of the trade, with comparative figures (where available) for 1957, 1958 and 1959 are at Appendices VII to X.
TRADE DEVELOPMENTS
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The export of Hong Kong's domestic products continued to expand during the year and new footholds were gained in many markets. The Colony's textile industry is now established as an important factor in world trade; this is shown by the fact that it is already facing some of the problems which have beset more highly industrialized countries.
Success in any particular overseas market is apt to invite tariff or other restrictions on exports against which the Colony's liberal trade policy offers no satisfactory counter-measures, and the Colony is increasingly faced with the introduction or intensifica- tion of discriminatory measures by importing countries designed to protect their industries in the face of the Colony's competitive products.
Late in 1958, the local textile industry had voluntarily agreed to limit the export to the United Kingdom of cotton textile manu- factures, whether in the piece or made-up, for a period of three years commencing on 1st February 1959. The annual ceiling is 164