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WEDNESDAY, SEPTEMBER 25, 1974
CHANGING PATTERN OF HONG KONG'S CLOTHING EXPORTS
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HONG KONG'S GARMENT MAKERS HAVE MADE NEW PROGRESS THIS YEAR IN DIVERSIFYING THEIR SHARE OF THE WORLD'S MARKETS AND OBTAINING NEW OUTLETS FOR THEIR PRODUCTS.
WHILE THE UNITED STATES CONTINUES TO BE THE LARGEST SINGLE MARKET FOR OUR CLOTHING EXPORTS, HIGHER RATES OF GROWTH HAVE BEEN ACHIEVED IN A NUMBER OF OTHER IMPORTANT MARKETS.
TRADE FIGURES FOR THE FIRST SIX MONTHS OF THIS YEAR SHOW THAT CLOTHING EXPORTS TO THE U.S. TOTALLED $1,133 MILLION – AN INCREASE OF FOUR AND A HALF PER CENT.
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AT THE SAME TIME, GLOBAL EXPORTS OF ALL TYPES OF
AN CLOTHING ROSE FROM $3,321 MILLION TO $4,198 MILLION INCREASE OF 26.5 PER CENT.
+THIS IS ABOUT SIX TIMES GREATER THAN THE INCREASE IN OUR CLOTHING EXPORTS TO THE U.S., INDICATING THAT HONG KONG IS BECOMING RELATIVELY LESS DEPENDENT ON THE AMERICAN MARKET AS AN OUTLET FOR ITS CLOTHING EXPORTS,+ SAID A SPOKESMAN FOR THE COMMERCE AND INDUSTRY DEPARTMENT.
COUNTRIES WHICH ARE BUYING MORE CLOTHING FROM HONG KONG INCLUDE THE FEDERAL REPUBLIC OF GERMANY COUR EXPORTS INCREASED FROM $640 MILLION IN THE FIRST HALF OF 1973 TO $890 MILLION IN THE FIRST HALF OF 1974) AUSTRALIA C$74 MILLION TO $172 MILLION), JAPAN C$66 MILLION TO $155 MILLION), SWITZERLAND C$66 MILLION TO $98 MILLION), LIBYA ($37 MILLION TO $51 MILLION) AND SOUTH AFRICA C$17 MILLION TO $43 MILLION).
+THIS CHANGING PATTERN IS TO BE WELCOMED AS IT SHOWS THE DETERMINATION OF HONG KONG MANUFACTURERS AND EXPORTERS TO ACHIEVE A WIDER DIVERSIFICATION OF GARMENT SALES IN OVERSEAS MARKETS,+ THE SPOKESMAN ADDED.
CLOTHING, HE POINTED OUT, PLAYS A DOMINANT ROLE IN HONG KONG'S EXPORT EARNINGS. LAST YEAR GARMENT SALES OVERSEAS NETTED $7,454 MILLION, ACCOUNTING FOR 38 PER CENT OF TOTAL DOMESTIC EXPORTS OF ALL PRODUCTS.
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