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INDUSTRY AND TRADE
semi-manufactured goods totalled $216,345 million, representing 43 per cent of total imports. The principal items imported were transistors, diodes, semi-conductors and integrated circuits ($27,204 million); plastic moulding materials ($20,892 million); fabrics of man- made fibres ($18,600 million); iron and steel ($12,139 million) watch and clock movements, cases and parts ($11,804 million); as well as woven cotton fabrics ($10,227 million).
Consumer goods, valued at $164,388 million, constituted 33 per cent of total imports. The major consumer goods imported were: clothing ($32,360 million); radios, television receivers, gramophones, records, amplifiers and tape recorders ($21,171 million); diamonds ($11,600 million); baby carriages, toys, games and sporting goods ($10,330 million); watches ($8,898 million); travel goods, handbags and similar containers ($8,459 million) as well as household-type electrical equipment ($5,640 million).
Imports of capital goods amounted to $77,182 million, or 15 per cent of total imports. Imported capital goods consisted mainly of electrical machinery ($12,400 million), office machines ($6,949 million), transport equipment ($6,616 million), electronic components and parts of computers ($6,075 million) and textile machinery ($3,912 million).
Imports of foodstuffs were valued at $32,070 million, representing six per cent of total imports. The principal imported food items were fish and fish preparations ($7,634 million), fruit ($4,409 million), vegetables ($3,642 million) as well as meat and meat preparations ($3,473 million).
Mineral fuels, lubricants and related materials worth some $8,813 million were imported in 1988, representing two per cent of total imports.
China and Japan were the two principal suppliers of imports in 1988, providing 31 per cent and 19 per cent, respectively, of the total. China alone supplied 41 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 Federal Republic of Germany and the United Kingdom.
Exports
Clothing remained the largest component of domestic exports, being valued at $67,309 mil- lion or 31 per cent of the total. Exports of miscellaneous manufactured articles consisting mainly of jewellery, goldsmiths' and silversmiths' wares; plastic toys and dolls as well as plastic articles were valued at $29,911 million, representing 14 per cent of domestic exports. Photographic apparatus, equipment, supplies and optical goods, watches and clocks were valued at $19,317 million (nine per cent of the total). Electrical machinery, apparatus and appliances consisting mainly of household type appliances; transistors and diodes amount- ed to $17,498 million or eight per cent of the total. Domestic exports of telecommunications and sound recording and reproducing apparatus and equipment, valued at $17,319 million, contributed another eight per cent to the total. Other important exports included textiles (seven per cent) as well as office machines and automatic data processing equipment (six per cent). The direction and level of Hong Kong's export trade is much influenced by economic conditions and commercial policies in its major overseas markets. In 1988, 55 per cent of all domestic exports went to the United States and the European Economic Community (EEC). The largest market was the United States ($72,884 million or 33 per cent of the total), followed by China ($38,043 million or 17 per cent), the Federal Republic of Germany ($16,157 million or seven per cent) and the United Kingdom ($15,524 million or seven per cent). Domestic exports to Japan and Canada increased to $11,435 million and $5,984 million respectively, with Japan representing five per cent and Canada three per cent of total domestic exports. Other important markets were Singapore, Netherlands and France.