1.5.
The major sources and destinations of HK's total trade in commodities are as follows:
1978 HK $ bn.
Imports
Re-exports
Exports
Balance
UK
3.0
3.9
+ 0.9
Japan
14.4
2.3
1.9
-10.2
China
10.6
-10.6
USA
7.6
1.2
15.1
+ 8.7
W. Germany
2.1
4.4
+ 2.3
Switzerland
2.1
0.3
0.7
+ 1.1
Australia
1.2
1.5
+ 0.3
Singapore
3.2
1.4
1.7
- 0.7
Taiwan
4.3
- 4.3
S. Korea
1.8
0.6
E. Indonesia
1.3
1.2 + 1.3
1.6.
However, in the textile and clothing sectors, HK is a substantial exporter:
2.
2.1.
1978 HK $ mn.
Imports
Re-exports
Exports Balance
Fibres
1,800
250
Yarns and Fabrics
8,700
1,800
2,900
Clothing
1,300
500
15,700
11,800
2,550
18,600
+ 9,350
In 1979, the UK trade with HK in manufactured goods was as follows:
UK Exports
Imports
1979 £ mn
Clothing
Other mfgrs
Others
8.5 307.8
433.5
442.0
383.2
691.0
The potential HK market for UK Yarns and Fabrics
In attempting to sell yarns and fabric to HK, for incorporation into garments for re-exporting to the UK, the UK textile industry is at a disadvantage on a number of counts:
the time factor, which both lengthens the merchandising cycle and slows down reponse times to repeat orders.
the proximity of HK to a number of competitors with in-built advantages:
USA
S. Korea and Taiwan
China and India
who have a large home market for bulk products, low chemical feedstuff prices and are base crop growers.
who have low cost labour and protected domestic markets.
who have low cost labour and are base crop growers of cotton:
It is also important to consider and evaluate the emergence of China as a textile and clothing trader and especially the implications of its strategy of creating development areas to attract external expertise and resources.
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