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Kong (e.g. refined sugar, rubber shoes etc.). Re-exports constituted two-thirds of the imports and nine-tenths of the exports. Of them 10 per cent consisted of "Chinese coastal trade," 20 to 25 per cent consisted of non-Chinese entrepôt trade and the remainder, nearly 70 per cent, was made up of goods passing between China and the rest of the world via Hong Kong.
It is common to speak of Hong Kong's trade as being almost wholly concerned with China, but the above figures make it clear that such a part of it as is concerned with China alone is less important than that which is not concerned with China at all. The latter consists of such items as the trade in rice from Siam and Indo-China to Japan and the Philippines, the trade in wheat flour from North America to Siam and the trade in Japanese manufactured articles to Indo-China, Siam, Malaya and the Netherlands East Indies.
The latter half of the year 1937 showed, in spite of the general decline in China's trade, a considerable increase in the proportion of that trade passing through Hong Kong. The proportion of China's imports credited to Kowloon increased from 3% in July, 1937, to 45% in January, 1938. The proportion of China's exports returned as going to Hong Kong increased from 12% in July, 1937, to 41.3% in January, 1938. At the same time the absolute amount of Hong Kong's trade with China also increased.
This state of affairs with regard to the Colony's China trade, accompanied by a steady increase in general trade, continued during the first three quarters of 1938. In October of that year an abrupt downward movement in all trading figures was shown as the Japanese extended their operations to South China. As a result of the military occupation of Canton and the closure of the Pearl River the normal trade routes between the Colony and the South China delta regions were almost entirely disrupted, and at the close of the year, there were no signs of any early appreciable resumption of the South China trade. In the first nine months of 1938 the import and export trade with South China averaged $70.9 millions in each quarter. In the final quarter of the year the total was $32.6 millions.
In terms of the analysis of Hong Kong's trade before the Sino-Japanese hostilities, given above, the position at the end of the year was that, though categories (a) and (d) were only indirectly affected, categories (b) and (c) had, with the exception of air transport and minor attempts at avoiding the Japanese blockade of the Pearl River delta, come to a virtual standstill.
The total visible trade of the Colony during the year 1938 totalled $1,130.1 millions (£69.9 millions) as compared with $1,084.4 millions (£66.9 millions) in 1937, and $803.3 millions (£50.6 millions) in 1936. Imports of merchandise in 1938 increased by 0.2% as compared with 1937, and by 36.6% as compared with 1936. Exports increased by 49.5% as compared with 1936.
The following is a list of the appendices to this chapter with general observations on the statistics shown therein :-
A. TOTAL VALUE OF IMPORTS AND EXPORTS OF MERCHANDISE.
Statistics of imports and exports for the years 1935-1938 reveal a progressive increase of trade in terms of local currency (imports from $364.9 millions in 1935 to $618.1 millions in 1938, and exports from $271.0 millions in 1935 to $511.9 millions in 1938). Imports and exports in 1934 were higher than in 1935 in terms of local currency—the 1934 totals being $415.9 millions (imports) and $325.6 (exports), but, owing to higher currency values in 1935, the sterling totals were greater in that year.
B. PERCENTAGE OF TOTAL IMPORTS PROVIDED BY EMPIRE AND FOREIGN COUNTRIES.
During the period 1934-1938, the share of Hong Kong's total import trade supplied by British Empire countries has varied between 13 per cent and 17.2 per cent (the latter being the 1938 figure). The United Kingdom is the largest Empire
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Kong (e.g. refined sugar, rubber shoes etc.). Re-exports constituted two-thirds of the imports and nine-tenths of the exports. Of them 10 per cent, consisted of "Chinese coastal trade," 20 to 25 per cent/consisted of non-Chinese entrepôt trade and the remainder, nearly 70 per cent, was made up of goods passing between China and the rest of the world via Hong Kong.
It is common to speak of Hong Kong's trade as being almost wholly concerned with China, but the above figures make it clear that such a part of it as is concerned with China alone is less important than that which is not concerned with China at all. The latter consists of such items as the trade in rice from Siam and Indo-China to Japan and the Philippines, the trade in wheat flour from North America to Siam and the trade in Japanese manufactured articles to Indo-China, Siam, Malaya and the Netherlands East Indies.
The latter half of the year 1937 shewed, in spite of the general decline in China's trade, a considerable increase in the proportion of that trade passing through Hong Kong. The proportion of China's imports credited to Kowloon increased from 3% in July, 1937, to 45% in January, 1938.) (The proportion of China's exports returned as going to Hong Kong increased from 12% in July, 1937, to 41.3% in January, 1938. At the same time the absolute amount of Hong Kong's trade with China also increased.
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This state of affairs with regard to the Colony's China trade, accompanied by a steady increase in general trade, continued during the first three quarters of 1938. In October of that year an abrupt downvard movement in all trading figures was shewn as the Japanese extended their operations to South China. As a result of the military occupation of Canton and the closure of the Pearl River the normal trade routes between the Colony and the South China delta regions were almost entirely disrupted, and at the close of the year, there were no signs of any early appreciable resumption of the South China trade. In the first nine months of 1938 the import and export trade with South China averaged $70.9 millions in each quarter. In the final quarter of the year the total was $32.6 millions.
(In
In terms of the analysis of Hong Kong's trade before the Sino-Japanese hostilities, given above, the position at the end of the year was that, though categories (a) and (d) were only indirectly affected, categories (b) and (c) had, with the exception of air transport and minor attempts at avoiding the Japanese blockade of the Pearl River delta, come to a virtual standstill)
The total visible trade of the Colony during the year 1938 totalled $1,130.1 millions (£69.9 millions) as compared with $1,084.4 millions (£66.9 millions) in 1937, and $803.3 millions (£50.6 millions) in 1936. Imports of merchandise in 1938 increased by 0.2% as compared with 1937, and by 36.6% as compared with 1936. Exports increased by 49.5% as compared with 1936.
The following is a list of the appendices to this chapter with general observations on the statistics shewn therein :-
A. TOTAL VALUE OF IMPORTS AND EXPORTS OF MERCHANDISE.
Statistics of imports and exports for the years 1935-1938 reveal a progressive increase of trade in terms of local currency (imports from $364.9 millions in 1935 to $618.1 millions in 1938, and exports from $271.0 millions in 1935 to $511.9 millions in 1938). Imports and exports in 1934 were higher than in 1935 in terms of local currency-the 1934 totals being $415.9 millions (imports) and $325.6 (exports), but, owing to higher currency values in 1935, the sterling totals were greater in that year.
B. PERCENTAGE OF TOTAL IMPORTS PROVIDED BY EMPIRE AND FOREIGN COUNTRIES.
During the period 1934-1938, the share of Hong Kong's total import trade supplied by British Empire countries has varied between 13 per cent. and 17.2 per cent. (the latter being the 1938 figure). The United Kingdom is the largest Empire
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