ENG-1946 — Page 40

Chapter 5.

COMMERCE.

The following table shows the value of the Colony's imports and exports during 1946 (excluding Government sponsored cargo) and gives the corresponding figures for 1936-1940:

Imports.

Exports.

(In millions of HK$

HK$

1s. 3d. sterling).

1936.

•

•

1

452.4

1936..

.350.9

1937.

1938.

617.1

+

•

·

•

1937..

467.3

•

618.2

1938

+

·

*

511.9

1939.

4

•

.

594.2

1939.

533.4

1940.

1946.

·

752.7

•

1940.

+

.621.8

+

.933.5

1946.

•

.765.6

The increase shown in the 1946 figures does not represent an increase in the volume of commodities handled, since the value of all goods was very much greater than the value of similar goods before the war. The importance of this factor is shown in the following table of wholesale price indices (unweighted):

(1938 100)

1939.

1940.

1941

1946.

(first six

months only).

Foodstuffs

96.8

124.6

155.4

704.8

Textiles

91.2

124.8

138.3

769.1

•

Metals and Minerals..

100.0

141.8

160.2

287.3

Miscellaneous Articles .. 100.4

138.4

168.9

604.5

There are no figures available for an exact quantitative comparison, but it is estimated that about 50% of the volume of pre-war trade was handled.

Imports.

In the early part of the year foodstuffs formed the major single group of commodities imported but as the year pro- gressed and general rehabilitation got under way, the demand shifted to textiles and capital goods. Over the whole year foodstuffs headed the list of imports (about $210 million) followed by oils and fats ($114 million) piece-goods ($100 million), Chinese medicines ($66 million) paper and paper- ware ($41 million) and metals ($40 million).