TNAG-0938-FCO40-1157-Visit-of-John-Nott--Secretary-of-State-for-Trade--to-Hong-Ko-1980 — Page 263

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Background Paper No 3

iii Hong Kong's biggest export market is the USA which takes more than

33% of total exports. However, growth of exports there (in particular of clothing) has slowed down in recent months, in contrast to exports to W Germany, UK and Japan which remain buoyant.

iv Hong Kong is an important focus for trade with countries in the

Pacific Basin which are sources of essential imports and major markets for re-exported goods. Trade with them is likely to expand considerably, Taiwan and Singapore (chiefly oil) are growing in significance as suppliers.