65
60
55
10
Hong Kong s
250 HK$BILLION
PERCENTAGE% 70
Domestic Exports
1980 -
1990
225
200
% Share of
Total Exports
175
150
Domestic Exports
125
100
75
50
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50
45
38
80
81 82
83
84 85 86 87
88
Hong Kong's Total Trade
1,500 HKSBILLION
1980 - 1990
Total Trade
1,200
Trade Balance
900
600
300
ප
0
-300
80
81
82
823
83
15
84 85 86 87
69
89
90
90
90
90
69
88
89
40
35
30
spurred by robust economic and industrial growth in the region, and also boosted by continuing import liberalisation. Total exports to Taiwan and Singapore, Hong Kong's third and fourth largest customers in the region, were up 29% and 21% respectively. Hong Kong's ongoing market diversification in the region is also producing results. Exports to Thailand and Indonesia, for example, rose 32% and 33% respectively.
OTHER MARKETS
Elsewhere, total exports performed well. In the wake of reform and decentralisation in Eastern Europe, Hong Kong traders succeeded in boosting sales to the area by 60%. Particularly impressive were exports to Hungary, Yugoslavia and Romania, with increases between 133% and 316%. At the same time, exports to Central and South America rose 30% on the back of de- regulation and liberalisation in several key markets. Sales to Africa also recorded a 23% increase. Results in the Australasian
and Middle East markets (where the Gulf conflict depressed trade), disappointing. Sales in these two regions declined 4% and 1% respectively.
PRODUCT PERFORMANCE
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While nearly all major products showed an increase in total exports, their growth rates varied considerably. The biggest gains were recorded for footwear (+64%), radios (+30%), travel goods (+24%), computer and office equipment parts (+25%) and toys (+19%). With the exception of computer parts, these products are primarily China- made re-exports. Items that made moderate advances included telecommunications equipment and parts (+16%) and watches and clocks (+14%). Below-average growth was recorded for textiles, garments and electronic components. In terms of domestic exports only, watches and clocks, telecommunications equipment and parts, parts for computers and office machines, artificial resins and plastic materials, elec- tronic components and printed matter achieved moderate growth.
CURRENT
YEAR AND PROSPECTS Export performance improved in the first quarter of 1991. Total exports rose 18%, with domestic exports and re-exports up 4% and 26% respectively. The rebound was due in no small measure to growth in the Western European and Asian markets.
In terms of product categories, the growth in domestic exports was led by electronic components and parts for office machines while garments, watches and clocks, and printed matter posted moderate increases. Other products including textiles,
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