ENG-1957 — Page 108

INDUSTRY AND TRADE

89

exports was taken by only six countries-Malaya, the United Kingdom, Indonesia, Japan, the United States and Thailand; while manufactured goods, especially textile yarn, fabrics, made-up articles, and miscellaneous manu- factured articles, especially clothing, together accounted for 57%-

The value of imports was $5,149.5 million, a rise of 12.8% compared with 1956. China remained the principal source of the Colony's imports, and China, Japan, the United Kingdom and the United States together provided 60% of the value of total imports, of which 57% consisted of food and -manufactured goods. Although imports rose from nearly all countries, Japan, Malaya and Brazil record- ed decreases.

The value of imports from and of exports to the United Kingdom both rose in 1957. Exports increased by $38.4 million and accounted for 11% of total exports. Over one half of this increase was made up of exports of local products, mainly of textiles and footwear. Imports rose by $153.9 million and represented 13% of total imports; heavier purchases of base metals, non-electrical machinery and transport equipment were mainly responsible for this increase.

Although Japan was the second most important source of imports, the value of Japanese goods imported into Hong Kong fell by $47.2 million compared with 1956, due mainly to reductions in textile yarn and piece-goods, base metals and non-metallic mineral manufactures. Exports to Japan fell heavily by $89.7 million; textile fibres, mineral fuels, lubricants and related materials, cereals and cereal prepara- tions all recorded decreased values. Japan was, nevertheless, the Colony's fourth most important customer and took 8% of total exports.

Malaya (including Singapore) proved to be the Colony's most valuable customer in 1957, taking exports to the value of $372.7 million, consisting mainly of fruits and vegetables,