ENG-1964 — Page 65

50

INDUSTRY AND TRADE

$14,647 million, representing an increase of $2,244 million or 18 per cent over 1963. Imports and domestic exports again rose considerably in value and this rise was matched in percentage by re-exports. The volume of Hong Kong trade as measured by cargo tonnage by all means of transport rose by 1 million tons during the year. Trade statistics including a breakdown by countries and commodities and comparisons with previous years are con- tained in Appendices XIII to XIX.

Imports in 1964 were valued at $8,706 million, an increase of 17 per cent. Although domestic supplies of agricultural produce and fish are substantial, most of the Colony's foodstuffs have to be imported. Food was therefore the principal import representing 23 per cent of all imports and being worth $2,012 million, an increase-of 16 per cent over the previous year. The chief food imports were rice, live animals, fruits and vegetables, dairy prod- ucts, sugar preparations, fish and fish preparations. Raw mate- rials and semi-manufactured goods imported for use by industry included textile yarn and fabrics, raw cotton, base metals and plastic moulding materials. Capital goods such as machinery and transport equipment, and mineral fuels and lubricants were also imported in large quantities.

The sources of imports are determined by proximity, prices, speed of delivery and by traditional trade relationships. China was the Colony's principal supplier, providing 22.6 per cent by value of all imports and 52 per cent of the Colony's food imports. Imports from China also included textile yarn and fabrics. The value of goods imported from China increased by 32 per cent compared with 1963. Imports from Japan, the second largest supplier, increased markedly to reach 17 per cent of imports from all sources. Textile goods represented 38 per cent of imports from Japan, but other goods included in the total were machinery, base metals, chemicals and many manufactured articles. Imports from the United States increased over the previous year, while those from Britain showed a decline. The principal imports from the United States were textile fibres, raw cotton, tobacco, machinery, plastic materials and fruits. The imports from Britain consisted mainly of machinery, wool textiles and motor vehicles.

The value of domestic exports increased by 15.6 per cent to reach a new record annual total of $4,428 million. They are still