COMMERCE AND INDUSTRY
Re-exports
In 2003, principal commodities re-exported were electrical machinery, apparatus and appliances ($303.1 billion or 18.7 per cent of the total value of re-exports), as well as telecommunications and sound recording and reproducing apparatus and equipment ($218.8 billion or 13.5 per cent of the total value of re-exports). The Mainland, Japan and Taiwan were the main origins of the re-exports, while the Mainland, the USA and Japan were the main destinations.
The Manufacturing Sector
Innovation, technology and relocation of lower value-added operations to the Mainland have accelerated the development of more knowledge-based and higher value-added manufacturing activities, as well as manufacturing-related services or producer services. Expansion of manufacturing activities offshore since the 1980s has turned Hong Kong into a strategic control centre of an increasingly globalised production network. In spite of Hong Kong's economic restructuring, the manufacturing sector remained an important sector of the economy, providing employment to 168 300 persons (7.6 per cent of the total private sector employees) in December 2003.
The printing and publishing industry was the largest employer in the manufacturing sector in 2003, followed by the clothing industry. Chart I shows the breakdown of employment within the manufacturing sector in 2003.
Chart 1: Number of Persons Employed by the Manufacturing Sector as at September 2003
Others 26.7% (46 235)
Metal products 3.3% (5 762)
Textiles 6.8% (11 776)
Electronics 8.9% (15 300)
Printing and publishing 22.0% (37 939)
Clothing 19.3% (33 327)
108
Food and beverages 13.0% (22 490)
The manufacturing sector remains export-oriented and its excellent performance contributed to Hong Kong's ranking as one of the world's leading exporters of textiles, clothing, watches and clocks, toys and jewellery. Domestic exports amounted to $122 billion in 2003 with clothing, electronics, textiles, chemical products and jewellery being the major export items. Chart 2 shows the value breakdown of domestic exports in 2003.