KS
£ million
1980
1981
1982
Jan-June
1982
Jan-June
1983
UK exports to Hong Kong
559.4
(+26.5%)
618.5
(+10.6%)
732.5
(+18.4%)
392.1
348.9
(-11.0%)
UK imports from Hong Kong
850.3
(+23.1%)
896.6
(+5.4%)
872.5
425.0
645.9
(-2.7%)
(+51.9%)
Import figures for the current year are exaggerated by large movements of gold bullion
from Hong Kong.
2
Hong Kong has no natural resources and is completely dependent on international
trade. Around one half of Hong Kong's imports are of raw materials and basic food-
stuffs, much of which is obtained from South-East Asian countries and in which the
UK and other distant suppliers cannot compete.
3 Hong Kong's largest industry is textiles and clothing which produces 40% by
value of total domestic exports. Almost half of the UK's imports from Hong Kong
are from this sector which is one of the most sensitive items in Hong Kongs international
trade relations. Electronics, watches and toys are also major Hong Kong exports.
Re-exports account for one third of total exports.
INVESTMENT
Hong Kong has excellent communications and one of the largest financial centres in
the world. It is an ideal base from which to tackle other markets in the region,
including China. Although keen to attract foreign investment into Hong Kong, in
line with their general policy of non-interference the Hong Kong Government offers
no specific incentives. Most recent estimates (1982) show that the UK has a 5.9%
share (HK$ 448.5 million) of total known overseas industrial investment compared
with 77% held by the USA and Japan combined. However, UK banks and other service
industries are strongly represented.
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