INDUSTRY AND TRADE
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equally rapidly during the last 12 months. The industry did not make any real headway until the second half of 1961 when about a dozen firms were operating; there are now 20. As an indication of the growth of this industry, exports of transistor radios in 1961 totalled over 263,000 sets valued at $12,700,000; in 1962 approxi- mately 1,047,000 sets valued at $37 million were exported. Of these, about 579,000 sets valued at $18 million went to the United States and 342,000 sets worth $13 million to Britain. Other industries which have been introduced and which have grown in recent years include the manufacture of air conditioners, plywood, carpets and other furnishings, stainless steel cutlery, electric fans, clocks, pleasure craft, cameras and binoculars.
TRADE
The value of merchandise imported, exported and re-exported in 1962 amounted to $11,045 million, an increase of nearly 12 per cent over the total for 1961 and the highest annual total ever recorded. Imports and domestic exports rose considerably in value, while by comparison re-exports recorded a moderate increase. Cargo tonnages by all means of transport were 9.5 million tons, as against 8.4 million tons in 1961. The main features of the Colony's trade for the past two years, and a breakdown by countries and by commodities for the years 1960 to 1962, are given in Appendix IV.
Imports in 1962 were valued at $6,657 million, which was 12 per cent higher than the previous year. Although local supplies of agricultural produce and fish are substantial, most of the Colony's foodstuffs have to be imported. Food was thus the prin- cipal import, representing nearly 24 per cent of all imports and being worth $1,609 million, which was an increase of 14 per cent over 1961. The chief items of edible imports were rice, fruits and vegetables, live animals, dairy products, sugar and sugar prepara- tions, pond fish and fish preparations. Other imported consumer goods included medicinal and pharmaceutical products, watches, radios, gramophones, tape recorders, tobacco and alcoholic bever- ages. Of considerable importance were the imports of raw materials and semi-manufactured goods for use in the Colony's industries. Among the principal items were textile yarn and fabrics, raw cotton, base metal and plastic moulding materials. Capital goods