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Results of 1994 survey of industrial production
The gross output of the manufacturing sector in 1994 amounted to $296 billion, representing a decrease of 5% when compared with 1993.
Net of total operating expenditure, the gross surplus amounted to 11.3% of the gross output in 1994. This was 0.2 of a percentage point lower than in 1993.
The value added of the manufacturing sector, which is a measure of its contribution to Hong Kong's gross domestic product, amounted to $87 billion in 1994. This represented a decrease of 5.1% when compared with 1993.
These are some of the major findings of the 1994 Survey of Industrial Production conducted from April 1995 to early 1996 and released today (Thursday) by the Census and Statistics Department.
All dollar figures are in terms of current prices. The percentage changes derived from these figures have not been adjusted for price changes. Caution should therefore be taken in interpreting the survey results.
In terms of percentage share of gross output, the operating expenditure incurred by manufacturing establishments amounted to 88.7% in 1994. This comprised 16.8% for compensation of employees; 60.2% for consumption of materials, supplies, and industrial work/services; and 11.7% for other expenses.
Compared with 1993, the percentage share of consumption of materials, supplies and industrial work/services decreased by one percentage point while that of compensation of employees and other expenses increased by 0.2 of a percentage point and one percentage point respectively.
The value added content of the gross output of the manufacturing sector amounted to 29.2%, comprising 16.8% for compensation of employees and 11.3% for gross surplus. Compared with 1993, the proportion for compensation of employees was up by 0.2 of a percentage point while that for gross surplus was down by 0.2 of a percentage point.
The survey results also showed that there were some 32,000 manufacturing establishments operating in 1994.