22
INDUSTRY AND TRADE
were valued at $6,582 million, compared with $4,741 million in 1978. The industry com- prises 1,075 factories employing 90,567 workers. It produces a wide range of products, including radios, computer memory systems, calculators, transistors, integrated circuits, semi-conductors, pre-packaged electronic modules, television sets, smoke detectors and burglar alarm systems. The borderline between this industry and others, notably toys and watches, is becoming increasingly difficult to define because of the application of electronics technology.
The plastics industry, despite the effects of oil price increases on the cost of its raw materials, fared well in 1979. Domestic exports during the year were valued at $4,808 million, compared with $3,561 million in 1978. The industry has 4,674 factories and 87,853 workers. Hong Kong continues to be the world's largest supplier of toys, which represented the bulk of the plastics industry's output.
The watches and clocks industry continued to expand in 1979, particularly in the electronic watches sector. Domestic exports during the year were valued at $4,623 million, compared with $2,983 million in 1978. The industry has 770 factories employing 31,931 workers. Production includes both mechanical and electronic watches, clocks, watch cases, dials, metal watch bands, assembled watch movements and watch straps of various materials.
Other important light industries produce travel goods, handbags and similar articles; metal products; jewellery; domestic electrical equipment; and electrical machinery, apparatus and appliances.
Heavy and Service Industries
Hong Kong shipyards provide a competitive repair service and many of the yards also build a variety of vessels. Several large shipbuilding and repair yards, still under construc- tion on Tsing Yi Island, are now providing services to the shipping industry. The Kwai Chung Container Terminal, which handled the equivalent of 1.3 million 20-foot containers in 1979, together with its complementary repair and manufacturing facilities, also enhances Hong Kong's position as one of the leading ports in Asia.
The aircraft engineering industry has a high international reputation and provides maintenance, overhaul and repair facilities for most airlines operating in Asia.
The manufacture of machinery, machine tools and their parts provides support to other local industries and also contributes to Hong Kong's export trade. Of particular importance are blow moulding, injection moulding, and extrusion machines of up to 4,250-gram capacity for the plastics industry; power presses; lathes; shapers and drilling machines; polishing machines; printing presses; textile knitting and warping machines; and electroplating equipment.
External Trade
Total merchandise trade in 1979 amounted to $161,771 million, an increase of 38 per cent over 1978. Imports rose by 36 per cent to $85,837 million; domestic exports by 37 per cent to $55,912 million; and re-exports by 52 per cent to $20,022 million. y
Summary statistics of external trade, including a breakdown of countries, commodities and comparisons with previous years, are contained in Appendices 3 and 4.
Hong Kong is almost entirely dependent on imported resources to meet the needs of its five million people and the requirements of its diverse industries. In 1979, imports of raw materials and semi-manufactured goods totalled $37,507 million, representing 44