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INDUSTRY AND TRADE
EXTERNAL TRADE
The value of Hong Kong's external trade in 1966 was maintained at a high level; the combined value of imports, exports and re- exports of merchandise trade reached $17,660 million, an increase of $2,166 million or 14 per cent over that for 1965. This was due to substantial rises in imports, exports, and re-exports. Cargo tonnage by all means of transport rose from 12,076,344 tons in 1965 to 13,218,134 tons in 1966. Trade statistics, including a break- down by countries and commodities and comparisons with previous years, are contained in Appendices XV to XXI.
Imports were valued at $10,097 million, an increase of 13 per cent. Although domestic supplies of agricultural produce and fish are substantial, most of Hong Kong's foodstuffs have to be imported, and food was the principal import, valued at $2,216 million, an increase of 9 per cent over 1965 and representing 22 per cent of all imports. The chief items of edible imports were live animals, rice and other cereals, fruits and vegetables, dairy products and eggs, and fish and fish preparations. Raw materials and semi- manufactured goods for industry included textile fibres and yarns, base metals and plastic moulding materials. Capital goods imported included machinery and transport equipment, while mineral fuels and lubricants were also imported in large quantities.
The sources of imports are determined by proximity, price, speed of delivery and by traditional trade relationships. China remained Hong Kong's principal supplier, increasing last year's figure by 19 per cent, providing 27 per cent of all imports, and 56 per cent of all food imports. Other items imported from China included textile yarn and fabrics, clothing and base metals. Imports from Japan, the second largest supplier, showed an increase of 19 per cent and accounted for 18 per cent of imports from all sources. Of imports from Japan 37 per cent were textile yarn fabrics: the rest were made-up of base metals, electric apparatus and appliances, chemicals and miscellaneous manufactured articles. Imports from both the United States and the United Kingdom showed slight increases. The principal imports from the United States were textile fibres, tobacco, machinery, fruits and vegetables and plastic materials. Imports from the United Kingdom were mainly machinery, motor vehicles and textile products.