ENG-1950 — Page 45

at the close of the year already causing dislocation to the Colony's economic life the well-being of which is fundamentally dependent on free trade.

The Colony's principal imports during the year in order of value were textile fabrics, chemical and pharmaceutical products, rubber and rubber manufactures, vegetable oils, industrially manufactured articles, and raw cotton. The main exports were textile fabrics, chemical and pharmaceutical products, rubber, vegetable oils, and cotton yarns and threads.

The following countries were the Colony's main sources of imports during the year: China, £54,000,000; U.S.A., £41,000,000; United Kingdom, £25,000,000; Malaya, £19,000,000; Japan, £14,000,000 Thailand, £11,000,000; and India, £10,000,000.

Exports from Hong Kong were mainly to the following countries: China, £91,000,000; Malaya, £34,000,000; U.S.A., £19,000,000; Macao, £13,000,000; United Kingdom, £10,000,000; Pakistan, £8,000,000; Indonesia, £8,000,000; and Japan, £8,000,000.

The British Commonwealth's share of the Colony's trade during the year was 28.9% (30.8% on imports and 26.9% on exports). Imports from the British Commonwealth were valued at £73 million ($1,168 million), exports at £62 million ($999 million). Imports from the United Kingdom increased by 10.7% over 1949 and exports to that country by 4.5%.

Since the announcement in May 1950 that foreign exchange for imports from Japan would be freely granted to bona fide merchants, trade with that country has expanded rapidly. Compared with the figures for 1949, imports from Japan showed an increase of 184.5% and exports to Japan an increase of 72%.`

Since the outbreak of hostilities, trade with Korea, which was already comparatively small, has been brought to a complete standstill.

The following illustrations give a simple idea of Hong Kong's commerce. Facts and figures in greater detail are given in the tables on pages 38 and 39.

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