(b) Imports (HK$ m)
1977
1978
Total imports
48,701
63,056
Raw materials and semi-
manufactures
20,391
26,624
Consumer goods
11,436
16,757
Foodstuffs
7,541
8,547
Capital goods
6,500
8,165
Fuels
2,834
2,962
Principal suppliers 1978
HK$ m
%%
Japan
14,405
22.8
€
China
10,550
16.7
United States
7,519
11.9
Taiwan
4,257
6.8
Singapore
3,219
5.1
United Kingdom
2,975
4.7
Hong Kong does not publish balance of payments statistics, but considerable invisible earnings, mainly from transport and tourism, help to offset the deficit on visible trade.
Internal Situation
Most of Hong Kong is unproductive mountainland. Only 10% of the land is farmed, producing rice, vegetables, fruit, flowers, pigs and poultry. Agricultural production is sufficient to meet only a small proportion of local consumer demand. There is however a considerable fishing industry, with 5,500 boats employing 36,000 people and meeting over 90% of the local demand for fish.
Small quantities of quartz, feldspar and kaolin are mined.
Background
From the establishment of Hong Kong as a centre for Britain's Far East trade in 1841 until about 1950, trade and commerce provided the main economic activity of the population. Then, when the Korean
War brought a slump in trade with China, it became necessary to
develop other sources of income, particularly since the population had expanded rapidly with the influx of refugees from China at the
time of the Communist take-over,
Hong Kong therefore turned to
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