INDUSTRY AND TRADE
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Imports of capital goods amounted to $56,914 million, or 15 per cent of total imports. Imported capital goods consisted mainly of electrical machinery ($8,854 million), transport equipment ($7,276 million), office machines ($4,841 million), textile machinery ($3,501 million), electronic components and parts of computers ($6,892 million).
Imports of foodstuffs were valued at $26,754 million, representing seven per cent of total imports. The principal imported food items were fish and fish preparations ($5,859 million), fruit ($3,747 million), meat and meat preparations ($2,952 million) and vegetables ($2,708 million).
Mineral fuels, lubricants and related materials worth some $8,819 million were im- ported in 1987, representing two per cent of total imports.
China and Japan were the two principal suppliers of imports in 1987, providing 31 per cent and 19 per cent, respectively, of the total. China alone supplied 40 per cent of Hong Kong's imported foodstuffs. Taiwan ranked third, providing nine per cent of total imports, followed by the United States, the Republic of Korea, Singapore, the United Kingdom and the Federal Republic of Germany.
Exports
Clothing remained the largest component of domestic exports, being valued at $65,321 million or 33 per cent of the total. Exports of miscellaneous manufactured articles consisting mainly of plastic toys and dolls; jewellery; goldsmiths' and silversmiths' wares as well as plastic articles were valued at $29,983 million, representing 15 per cent of total domestic exports. Textiles were valued at $16,005 million (eight per cent of the total). Telecommunications and sound recording and reproducing apparatus and equipment amounted to $14,873 million or eight per cent of the total. Domestic exports of photo- graphic apparatus, equipment, supplies and optical goods, watches and clocks, valued at $15,646 million, contributed another eight per cent to the total. Other important exports included electrical machinery, apparatus and appliances consisting mainly of household type appliances; transistors and diodes (seven per cent) as well as office machines and automatic data processing equipment (five per cent).
The direction and level of Hong Kong's export trade is much influenced by economic conditions and commercial policies in major overseas markets. In 1987, 59 per cent of all domestic exports went to the United States and the European Economic Community (EEC). The largest market was the United States ($72,817 million or 37 per cent of the total), followed by China ($27,871 million or 14 per cent), the Federal Republic of Germany ($14,855 million or eight per cent) and the United Kingdom ($12,905 million or seven per cent). Domestic exports to Japan and Canada increased to $9,489 million and $5,656 million respectively, with Japan representing five per cent and Canada three per cent of total domestic exports. Other important markets were the Netherlands, Singapore and France.
Re-exports
Re-exports showed very significant increases in 1987, and now account for 48 per cent of the combined total of domestic exports and re-exports. The principal commodities re-exported were textiles ($28,332 million); clothing ($18,279 million); miscellaneous manufactured articles ($17,884 million); electrical machinery, apparatus and appliances ($15,956 million); telecommunications and sound recording and reproducing apparatus and equipment ($11,955 million) as well as photographic apparatus, equipment, supplies and optical goods, watches and clocks ($8,163 million). The main places of origin of these