TNAG-0385-FCO40-431-Trade-relations-between-Hong-Kong-and-the-EEC-1974 — Page 143

EEC is HK's

HONG ILONG STANDARD 22/10/3

biggest buyer

next to US

THE EUROPEAN Economic Community continued to be the second largest outlet for Hongkong's domestic exports in August, according to the latest statistics from the Census and Statistical Department.

During the first eight months of this year, the EEC countries occupied a total of 34 per cent of the total exports from the Colony whereas the United States accounted for 37 per cent.

In the corresponding period, the US had increased its imprts of our products by a mere nine per cent while the demand from the EEC countries serged by 50 per cent.

A $4,047 million value was recorded for exports to EEC from January to August this year whereas the US imported $4,341 million worth Hongkong goods,

It is seen that the EEC countries provide an increasing demand for Hongkong goods which will gradually takeover the position of US in terms of deniand,

In the domestic exports of Hongkong, the Colony scored a 3.8 times increase to Russia and East European countries. Ecxporters believe that trading with East European bloc will increase further.

#VED IN ASTRY No.51

201513

аккор

Since Janurary, local exports to Asian countries including Japan, China, Singapore and Taiwan, increased by 62 per cent.

Other regions where Hongkong is doing well in export are Middle East increase of 38 per cent, and Australiasia and Oceania, rise of 33 per cent,

In fact, Hongkong has made significant strides during the first eight months of this year in which total exports (including re-export) climbed by 26.5 per cent compared with last year while import serged by 22.2 per cent.

During this period the total value of exports was $15,525 million compared with $12,276 million last year, Import also increased from $14,063 million to $17,192 million.

According to Government statistics, the Colony imported a total value of $2,504 million products and exported a total value of $1,945 million alone in August, 1973,

Janpan Was the biggest exporter to Hongkong between January and August of this year, During this period, Hongkong imported $3,558.7 million worth of Japanese goods. Major items include: fabrics ($624 million), textile yarn ($262.7 million), and electrical machinery and apparatus and appliances ($426.3 million).

Following Japan, was China which exported # total of $3,184 million worth of goods to the Colony. Major Items from China include: food stuff (approximately $1,100 million) and textile yarn, fabrics and clothing ($800 million).

During the same period, Taiwan exported $1,024 million worth of goods, whereas the figures for Singapore were $$78 million and that of South Korea was $331 million.